Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2022
Dec. 31, 2021
Investment properties:    
Land and improvements $ 463,927 $ 480,289
Building and other improvements 544,366 547,445
Gross investment properties 1,008,293 1,027,734
Less: accumulated depreciation (22,447) (14,615)
Net investment properties 985,846 1,013,119
Cash and cash equivalents 34,313 627,522
Accounts receivable 46,946 48,554
Lease intangible assets, net 246,522 254,600
Right-of-use lease assets 99,574 100,617
Assets associated with investment properties held for sale 21,058 19,215
Other assets, net 3,993 1,066
Total assets 1,438,252 2,064,693
Liabilities:    
Accounts payable and accrued expenses 1,145 1,626
Lease intangible liabilities, net 118,115 126,769
Lease liabilities 37,613 37,554
Liabilities associated with investment properties held for sale 5,406 2,124
Other liabilities 11,233 9,250
Total liabilities 173,512 177,323
Commitments and contingencies (Note 5)
Equity:    
Trust certificates, no par value, 75,000,000 certificates authorized, issued and outstanding, as of June 30, 2022 and December 31, 2021 0 0
Additional paid-in capital 1,952,120 1,952,120
Accumulated distributions in excess of earnings (687,380) (64,750)
Total equity 1,264,740 1,887,370
Total liabilities and equity $ 1,438,252 $ 2,064,693