Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.23.3
Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
Investment properties:    
Land and improvements $ 412,114 $ 422,114
Building and other improvements 494,615 497,523
Gross investment properties 906,729 919,637
Less: accumulated depreciation (38,361) (27,742)
Net investment properties 868,368 891,895
Cash and cash equivalents 33,937 48,922
Accounts receivable 40,223 42,685
Lease intangible assets, net 215,573 228,529
Right-of-use lease assets, net 85,711 87,086
Other assets, net 964 831
Total assets 1,244,776 1,299,948
Liabilities:    
Accounts payable and accrued expenses 1,028 1,061
Lease intangible liabilities, net 95,706 101,920
Lease liabilities 37,752 37,676
Other liabilities 8,525 8,628
Total liabilities 143,011 149,285
Commitments and contingencies (Note 5)
Equity:    
Trust certificates, no par value, 75,000,000 certificates authorized, issued and outstanding, as of September 30, 2023 and December 31, 2022 0 0
Additional paid-in capital 1,952,120 1,952,120
Accumulated distributions in excess of earnings (850,355) (801,457)
Total equity 1,101,765 1,150,663
Total liabilities and equity $ 1,244,776 $ 1,299,948