Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.23.2
Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 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 (34,878) (27,742)
Net investment properties 877,108 891,895
Cash and cash equivalents 33,942 48,922
Accounts receivable 41,167 42,685
Lease intangible assets, net 221,547 228,529
Right-of-use lease assets, net 86,168 87,086
Other assets, net 1,165 831
Total assets 1,261,097 1,299,948
Liabilities:    
Accounts payable and accrued expenses 1,167 1,061
Lease intangible liabilities, net 97,093 101,920
Lease liabilities 37,734 37,676
Other liabilities 8,642 8,628
Total liabilities 144,636 149,285
Commitments and contingencies (Note 5)
Equity:    
Trust certificates, no par value, 75,000,000 certificates authorized, issued and outstanding, as of June 30, 2023 and December 31, 2022 0 0
Additional paid-in capital 1,952,120 1,952,120
Accumulated distributions in excess of earnings (835,659) (801,457)
Total equity 1,116,461 1,150,663
Total liabilities and equity $ 1,261,097 $ 1,299,948