Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.22.4
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Investment properties:    
Land and improvements $ 422,114 $ 480,289
Building and other improvements 497,523 547,445
Gross investment properties 919,637 1,027,734
Less: accumulated depreciation (27,742) (14,615)
Net investment properties 891,895 1,013,119
Cash and cash equivalents 48,922 627,522
Accounts receivable 42,685 48,554
Lease intangible assets, net 228,529 254,600
Right-of-use lease assets 87,086 100,617
Assets associated with investment properties held for sale 0 19,215
Other assets, net 831 1,066
Total assets 1,299,948 2,064,693
Liabilities:    
Accounts payable and accrued expenses 1,061 1,626
Lease intangible liabilities, net 101,920 126,769
Lease liabilities 37,676 37,554
Liabilities associated with investment properties held for sale 0 2,124
Other liabilities 8,628 9,250
Total liabilities 149,285 177,323
Commitments and contingencies (Note 6)
Equity:    
Trust certificates, no par value, 75,000,000 certificates authorized, issued and outstanding as of December 31, 2022 and 2021 0 0
Additional paid-in capital 1,952,120 1,952,120
Accumulated distributions in excess of earnings (801,457) (64,750)
Total equity 1,150,663 1,887,370
Total liabilities and equity $ 1,299,948 $ 2,064,693