Quarterly report pursuant to Section 13 or 15(d)

Note 3 - Real Estate (Tables)

v3.22.2
Note 3 - Real Estate (Tables)
6 Months Ended
Jun. 30, 2022
Notes Tables  
Schedule of Real Estate Properties [Table Text Block]
             

Tenant

Market

Site Type

Closing Date

Real Estate Acquisition Costs

 

Bloom Medicinal

Missouri

Cultivation

April 1, 2022

  7,301 (1)

Ayr Wellness, Inc.

Pennsylvania

Cultivation

June 30, 2022

  14,529  

Ayr Wellness, Inc.

Nevada

Cultivation

June 30, 2022

  13,579  

Total

$ 35,409  
       
(1) Includes $5,004 of TI funded at closing of the property.      
Tenant Improvements [Table Text Block]
                 

Tenant

Market

Site Type

Acquisition Closing Date

 

TI Funded during six months ended June 30, 2022

 

Unfunded Commitments (1)

 

Curaleaf

Florida

Cultivation

August 4, 2020

    20,983  (2)   -  

Mint

Massachusetts

Cultivation

April 1, 2021

    349     2,651  

Mint

Arizona

Cultivation

June 24, 2021

    2,505     6,462  

PharmaCann

Massachusetts

Dispensary

March 17, 2021

    25     -  

Trulieve

Pennsylvania

Cultivation

March 17, 2021

    7,046     -  

Organic Remedies

Missouri

Cultivation

December 20, 2021

    4,271     757  

Bloom Medicinal

Missouri

Cultivation

April 1, 2022

    3,613     1,603  
Ayr Wellness, Inc. Pennsylvania Cultivation June 30, 2022     -     750  

Total

  $ 38,792   $ 12,223  
                     

(1) The $12.2 million of unfunded commitments does not include a $16.5 million option but not obligation to acquire an adjacent property from an existing tenant.

(2) On June 16, 2022, the Company funded the expansion of an existing property.

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]
   

Amortization

 

Year

 

Expense

 

2022 (six months ending balance at December 31, 2022)

  $ 1,006  

2023

    2,013  

2024

    2,013  

2025

    2,013  

2026

    2,013  

Thereafter

    13,937  

Total

  $ 22,995  
Lessor, Operating Lease, Payment to be Received, Fiscal Year Maturity [Table Text Block]
   

Contractual

 
   

Minimum

 

Year

 

Rent

 

2022 (six months ending balance at December 31, 2022)

  $ 22,144  

2023

    45,361  

2024

    46,583  

2025

    47,779  

2026

    49,007  

Thereafter

    536,181  

Total

  $ 747,055  
Disaggregation of Revenue [Table Text Block]
   

For the Six Months Ended June 30,

 
   

2022

   

2021

 
                                 
   

Number

   

Percentage of

   

Number

   

Percentage of

 
   

of

   

Rental

   

of

   

Rental

 
   

Leases

   

Income

   

Leases

   

Income

 

Curaleaf

    11       25 %     11       38 %

Cresco Labs

    1       17 %     1       28 %

Trulieve

    1       14 %     1     9 %      
Revolutionary Clinics     1       13 %     1       - %

Columbia Care

    5       11 %     5       10 %

Acreage

    3       8 %     3       13 %

Organic Remedies

    1       6 %     -       - %
   

For the Three Months Ended June 30,

 
   

2022

   

2021

 
                                 
   

Number

   

Percentage of

   

Number

   

Percentage of

 
   

of

   

Rental

   

of

   

Rental

 
   

Leases

   

Income

   

Leases

   

Income

 

Curaleaf

    11       25 %     11       35 %

Cresco Labs

    1       17 %     1       23 %

Trulieve

    1       14 %     1       13 %

Revolutionary Clinics

    1       13 %     1       - %

Columbia Care

    5       10 %     5       15 %

Acreage

    3       8 %     3       10 %

Organic Remedies

    1       6 %     -       - %