Balance Sheet

v3.24.2.u1

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Real Estate
Land	$ 21,717	$ 21,397
Building and Improvements	405,955	390,911
Total Real Estate	427,672	412,308
Less Accumulated Depreciation	(38,191)	(31,999)
Net Real Estate	389,481	380,309
Cash and Cash Equivalents	20,687	25,843
In-Place Lease Intangible Assets, net	18,786	19,779
Loan Receivable, net (Current Expected Credit Loss of $141 and $167, respectively)	4,859	4,833
Other Assets	2,385	2,528
Total Assets	436,198	433,292
Liabilities:
Accounts Payable and Accrued Expenses	921	1,117
Revolving Credit Facility	7,600	1,000
Loan Payable, net	0	1,000
Dividends and Distributions Payable	9,009	8,385
Security Deposits	8,789	8,616
Rent Received in Advance	784	990
Other Liabilities	149	227
Total Liabilities	27,252	21,335
Commitments and Contingencies
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, 20,509,883 and 20,503,520 Shares Issued and Outstanding, respectively	205	205
Additional Paid-In Capital	446,006	445,289
Accumulated Deficit	(44,581)	(40,909)
Total Stockholders' Equity	401,630	404,585
Noncontrolling Interests	7,316	7,372
Total Equity	408,946	411,957
Total Liabilities and Equity	$ 436,198	$ 433,292

- Definition

Sum of the carrying values as of the balance sheet date of obligations incurred through that date, including liabilities incurred and payable to vendors for goods and services received, taxes, interest, rent and utilities, compensation costs, payroll taxes and fringe benefits (other than pension and postretirement obligations), contractual rights and obligations, and statutory obligations.

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