Land (amounts related to variable interest entities ('vies') of 0 and 6,416 at september 30, 2025 and december 31, 2024, respectively)
98,883
98,883
Buildings and improvements (amounts related to vies of 0 and 13,279 at september 30, 2025 and december 31, 2024, respectively)
1,088,981
1,085,048
Fixtures and equipment
11,355
11,399
Total real estate assets, gross
1,199,219
1,195,330
Less accumulated depreciation (amounts related to vies of 0 and 682 at september 30, 2025 and december 31, 2024, respectively)
399,597
391,918
Real estate assets, net (amounts related to vies of 0 and 19,013 at september 30, 2025 and december 31, 2024, respectively)
799,622
803,412
Acquired real estate leases, less accumulated amortization of 14,238 and 13,613, respectively (amounts related to vies of 0 and 67, less accumulated amortization of 0 and 35 at september 30, 2025 and december 31, 2024, respectively)
2,899
3,309
Cash, cash equivalents and restricted cash (amounts related to vies of 239 and 1,314 at september 30, 2025 and december 31, 2024, respectively)
31,575
30,518
Tenant rent receivables
1,380
1,568
Straight-line rent receivable
38,857
37,839
Prepaid expenses and other assets
3,889
3,583
Office computers and furniture, net of accumulated depreciation of 1,094 and 1,073, respectively
48
55
Deferred leasing commissions, net of accumulated amortization of 14,749 and 14,195, respectively
22,762
22,959
Total assets
901,032
903,243
Term loans payable, less unamortized financing costs of 881 and 2,220, respectively
125,114
125,124
Series a & series b senior notes, less unamortized financing costs of 473 and 1,191, respectively
122,449
122,656
Accounts payable and accrued expenses (amounts related to vies of 83 and 534 at september 30, 2025 and december 31, 2024, respectively)
28,785
22,010
Accrued compensation
2,635
1,911
Tenant security deposits
6,258
6,289
Lease liability
417
515
Acquired unfavorable real estate leases, less accumulated amortization of 54 and 89, respectively
37
38
Preferred stock, .0001 par value, 20,000,000 shares authorized, none issued or outstanding
-
0
Total liabilities
285,695
278,543
Common stock, .0001 par value, 180,000,000 shares authorized, 103,690,340 and 103,566,715 shares issued and outstanding, respectively
10
10
Additional paid-in capital
1,335,586
1,335,586
Accumulated distributions in excess of accumulated earnings
720,259
710,896
Total stockholders' equity
615,337
624,700
Total liabilities and stockholders' equity
901,032
903,243
Unit: Thousand (K) dollars (except for numbers of shares and EPS). Numbers labeled with * are estimated quarterly values.
Time Plot
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