Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheet

v3.22.1
Consolidated Balance Sheet - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
Investment properties:    
Land and improvements $ 480,289 $ 480,289
Building and other improvements 547,445 547,445
Gross investment properties 1,027,734 1,027,734
Less: accumulated depreciation (18,601) (14,615)
Net investment properties 1,009,133 1,013,119
Cash and cash equivalents 34,343 627,522
Accounts receivable 47,866 48,554
Lease intangible assets, net 251,251 254,600
Right-of-use lease assets 100,095 100,617
Assets associated with investment properties held for sale 0 19,215
Other assets, net 4,796 1,066
Total assets 1,447,484 2,064,693
Liabilities:    
Accounts payable and accrued expenses 1,223 1,626
Lease intangible liabilities, net 125,101 126,769
Lease liabilities 37,584 37,554
Liabilities associated with investment properties held for sale 0 2,124
Other liabilities 9,286 9,250
Total liabilities 173,194 177,323
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, 2021 0 0
Additional paid-in capital 1,952,120 1,952,120
Accumulated distributions in excess of earnings (677,830) (64,750)
Total equity 1,274,290 1,887,370
Total liabilities and equity $ 1,447,484 $ 2,064,693