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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
ASSETS    
Investments in real estate, net $ 502,006 $ 497,984
Investment in unconsolidated entity 12,381 0
Cash and cash equivalents 46,190 22,311
Restricted cash 11,290 11,340
Loans receivable, net 62,547 73,543
Accounts receivable, net 3,780 3,396
Deferred rent receivable and charges, net 37,543 36,095
Other intangible assets, net 4,461 5,251
Other assets 10,050 10,946
TOTAL ASSETS 690,248 660,866
LIABILITIES:    
Debt, net 184,267 201,145
Accounts payable and accrued expenses 107,220 26,751
Intangible liabilities, net 20 237
Due to related parties 3,155 4,541
Other liabilities 17,856 16,861
Total liabilities 312,518 249,535
COMMITMENTS AND CONTINGENCIES (Note 14)
REDEEMABLE PREFERRED STOCK: Series A cumulative redeemable preferred stock, $0.001 par value; 35,438,752 and 35,776,705 shares authorized as of December 31, 2022 and December 31, 2021, respectively; 693,741 shares issued and outstanding as of December 31, 2022 and 1,633,965 and 1,631,965 shares issued and outstanding, respectively, as of December 31, 2021; liquidation preference of $25.00 per share, subject to adjustment 15,697 37,782
EQUITY:    
Common stock, $0.001 par value; 900,000,000 shares authorized; 22,737,853 and 23,369,331 shares issued and outstanding as of December 31, 2022 and December 31, 2021, respectively 23 24
Additional paid-in capital 861,721 866,746
Distributions in excess of earnings (837,846) (804,227)
Total stockholders’ equity 361,660 373,204
Noncontrolling interests 373 345
Total equity 362,033 373,549
TOTAL LIABILITIES, REDEEMABLE PREFERRED STOCK, AND EQUITY 690,248 660,866
Series A Preferred Stock    
EQUITY:    
Cumulative redeemable preferred stock 189,048 156,431
Series A1 Preferred Stock    
EQUITY:    
Cumulative redeemable preferred stock 147,514 0
Series D Preferred Stock    
EQUITY:    
Cumulative redeemable preferred stock 1,200 1,396
Series L Preferred Stock    
EQUITY:    
Cumulative redeemable preferred stock $ 0 $ 152,834