Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2021
Jan. 30, 2021
Investment properties:    
Land and improvements $ 480,289 $ 716,504
Building and other improvements 547,445 999,983
Gross investment properties 1,027,734 1,716,487
Less: accumulated depreciation (14,615) 0
Net investment properties 1,013,119 1,716,487
Cash and cash equivalents 627,522 25,563
Accounts receivable 48,554 0
Lease intangible assets, net 254,600 314,264
Right-of-use lease assets 100,617 110,691
Assets associated with investment properties held for sale 19,215 0
Other assets, net 1,066 0
Total assets 2,064,693 2,167,005
Liabilities:    
Accounts payable and accrued expenses 1,626 8,651
Lease intangible liabilities, net 126,769 168,159
Lease liabilities 37,554 38,075
Liabilities associated with investment properties held for sale 2,124
Other liabilities 9,250 0
Total liabilities 177,323 214,885
Commitments and contingencies (Note 6)
Equity:    
Trust certificates, no par value, 75,000,000 certificates authorized, issued and outstanding as of December 31, 2021 and Effective Date 0 0
Additional paid-in capital 1,952,120 1,952,120
Accumulated distributions in excess of earnings (64,750) 0
Total equity 1,887,370 1,952,120
Total liabilities and equity $ 2,064,693 $ 2,167,005