v3.25.2
Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Real Estate    
Land $ 23,224 $ 22,891
Building and Improvements 408,930 408,552
Total Real Estate 432,154 431,443
Less Accumulated Depreciation (51,321) (44,709)
Net Real Estate 380,833 386,734
Cash and Cash Equivalents 21,854 20,213
In-Place Lease Intangible Assets, net 16,695 17,794
Loan Receivable, net (Current Expected Credit Loss of $93 and $116, respectively) 4,907 4,884
Other Assets 1,558 1,911
Total Assets 425,847 431,536
Liabilities:    
Accounts Payable and Accrued Expenses 981 1,515
Revolving Credit Facility 7,600 7,600
Dividends and Distributions Payable 9,024 9,246
Security Deposits 7,642 8,117
Rent Received in Advance 990 684
Other Liabilities 81 402
Total Liabilities 26,318 27,564
Commitments and Contingencies (Note 15)
Equity:    
Preferred Stock, $0.01 Par Value, 100,000,000 Shares Authorized, 0 Shares Issued and Outstanding, respectively 0 0
Common Stock, $0.01 Par Value, 400,000,000 Shares Authorized, 20,552,632 and 20,514,583 Shares Issued and Outstanding, respectively 205 205
Additional Paid-In Capital 446,759 446,627
Accumulated Deficit (54,265) (50,067)
Total Stockholders' Equity 392,699 396,765
Noncontrolling Interests 6,830 7,207
Total Equity 399,529 403,972
Total Liabilities and Equity $ 425,847 $ 431,536

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