Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Balance Sheets

v3.25.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Investment properties:    
Land and improvements $ 368,586 $ 408,064
Building and other improvements 457,285 492,937
Gross investment properties 825,871 901,001
Less: accumulated depreciation (52,104) (41,818)
Net investment properties 773,767 859,183
Cash and cash equivalents 51,886 38,026
Accounts receivable, including straight-line rent 35,366 39,504
Lease intangible assets, net 191,262 212,001
Right-of-use lease assets, net 83,428 85,254
Other assets, net 541 522
Total assets 1,136,250 1,234,490
Liabilities:    
Accounts payable and accrued expenses 3,011 1,224
Lease intangible liabilities, net 73,205 93,078
Lease liabilities 37,795 37,763
Other liabilities 8,351 8,603
Total liabilities 122,362 140,668
Commitments and contingencies (Note 6)
Equity:    
Trust certificates, no par value, 75,000,000 certificates authorized, issued and outstanding, as of December 31, 2024 and 2023 0 0
Additional paid-in capital 1,952,120 1,952,120
Accumulated distributions in excess of earnings (938,232) (858,298)
Total equity 1,013,888 1,093,822
Total liabilities and equity $ 1,136,250 $ 1,234,490