Quarterly report [Sections 13 or 15(d)]

Consolidated Balance Sheets

v3.25.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Investment properties:    
Land and improvements $ 366,086 $ 368,586
Building and other improvements 450,786 457,285
Gross investment properties 816,872 825,871
Less: accumulated depreciation (54,590) (52,104)
Net investment properties 762,282 773,767
Cash and cash equivalents 34,030 51,886
Accounts receivable 34,350 35,366
Lease intangible assets, net 184,127 191,262
Right-of-use lease assets, net 79,040 83,428
Assets associated with investment properties held for sale 16,673 0
Other assets, net 3,100 541
Total assets 1,113,602 1,136,250
Liabilities:    
Accounts payable and accrued expenses 3,190 3,011
Lease intangible liabilities, net 69,494 73,205
Lease liabilities 37,795 37,795
Liabilities associated with investment properties held for sale 2,715 0
Other liabilities 8,221 8,351
Total liabilities 121,415 122,362
Commitments and contingencies (Note 5)
Equity:    
Trust certificates, no par value, 75,000,000 certificates authorized, issued and outstanding, as of March 31, 2025 and December 31, 2024 0 0
Additional paid-in capital 1,952,120 1,952,120
Accumulated distributions in excess of earnings (959,933) (938,232)
Total equity 992,187 1,013,888
Total liabilities and equity $ 1,113,602 $ 1,136,250