Balance Sheet

v3.26.1

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Real Estate
Land	$ 22,903	$ 22,903
Building and Improvements	404,983	404,983
Total Real Estate	427,886	427,886
Less Accumulated Depreciation	(61,287)	(57,916)
Net Real Estate	366,599	369,970
Real estate held for sale	4,802	4,802
Cash and Cash Equivalents	24,766	23,937
In-Place Lease Intangible Assets, net	15,218	15,710
Loan Receivable, net (Current Expected Credit Loss of $60 and $71, respectively)	4,940	4,929
Other Assets	1,306	1,481
Total Assets	417,631	420,829
Liabilities:
Accounts Payable and Accrued Expenses	1,085	1,307
Revolving Credit Facility	7,600	7,600
Dividends and Distributions Payable	9,036	9,169
Security Deposits	6,728	6,728
Rent Received in Advance	1,445	1,013
Other Liabilities	109	324
Total Liabilities	26,003	26,141
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, 20,580,766 and 20,552,632 Shares Issued and Outstanding, respectively	206	205
Additional Paid-In Capital	447,363	447,185
Accumulated Deficit	(62,625)	(59,449)
Total Stockholders' Equity	384,944	387,941
Noncontrolling Interests	6,684	6,747
Total Equity	391,628	394,688
Total Liabilities and Equity	$ 417,631	$ 420,829

- 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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