v3.22.1
Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
ASSETS:    
Land $ 15,097 $ 15,649
Building and Improvements 275,605 272,432
Total Real Estate 290,702 288,081
Less Accumulated Depreciation (11,329) (9,155)
Net Real Estate 279,373 278,926
Cash and Cash Equivalents 114,788 127,097
Mortgage Loan Receivable 30,000 30,000
In-Place Lease Intangible Assets, net 23,498 24,002
Other Assets 8,278 858
TOTAL ASSETS 455,937 460,883
LIABILITIES:    
Dividends, Dividend Equivalents and Distributions Payable 7,200 6,765
Security Deposits Payable 6,047 6,047
Loan Payable, net 1,966 3,759
Interest Reserve 1,225 2,144
Rent Received in Advance 1,106 1,429
Accrued Expenses and Other Liabilities 719 1,404
Total Liabilities 18,263 21,548
COMMITMENTS AND CONTINGENCIES
EQUITY:    
Preferred Stock, $0.01 Par Value, 100,000,000 Shares Authorized, 12.5% Series A Redeemable Cumulative Preferred Stock, 0 and 0 Shares Issued and Outstanding at March 31, 2022 and December 31, 2021, respectively 0 0
Common Stock, $0.01 Par Value, 400,000,000 Shares Authorized, 21,300,410 Shares Issued and Outstanding at March 31, 2022 and 21,235,914 Shares Issued and Outstanding at December 31, 2021 213 213
Additional Paid-In Capital 452,690 450,916
Accumulated Deficit (25,586) (23,574)
Total Stockholders' Equity 427,317 427,555
NONCONTROLLING INTERESTS 10,357 11,780
Total Equity 437,674 439,335
TOTAL LIABILITIES AND EQUITY $ 455,937 $ 460,883

Source