Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.23.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Investment properties:    
Land and improvements $ 415,764 $ 422,114
Building and other improvements 496,222 497,523
Gross investment properties 911,986 919,637
Less: accumulated depreciation (31,269) (27,742)
Net investment properties 880,717 891,895
Cash and cash equivalents 41,564 48,922
Accounts receivable 41,723 42,685
Lease intangible assets, net 224,712 228,529
Right-of-use lease assets, net 86,627 87,086
Other assets, net 1,346 831
Total assets 1,276,689 1,299,948
Liabilities:    
Accounts payable and accrued expenses 1,383 1,061
Lease intangible liabilities, net 98,480 101,920
Lease liabilities 37,700 37,676
Other liabilities 8,578 8,628
Total liabilities 146,141 149,285
Commitments and contingencies (Note 5)
Equity:    
Trust certificates, no par value, 75,000,000 certificates authorized, issued and outstanding, as of March 31, 2022 and December 31, 2022 0 0
Additional paid-in capital 1,952,120 1,952,120
Accumulated distributions in excess of earnings (821,572) (801,457)
Total equity 1,130,548 1,150,663
Total liabilities and equity $ 1,276,689 $ 1,299,948