XML 13 R2.htm IDEA: XBRL DOCUMENT v3.21.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2021
Dec. 31, 2020
Real estate assets:    
Land $ 189,155 $ 189,155
Buildings and improvements 1,954,838 1,938,629
Fixtures and equipment 13,308 12,949
Total real estate assets, gross 2,157,301 2,140,733
Less accumulated depreciation 555,688 538,717
Real estate assets, net 1,601,613 1,602,016
Acquired real estate leases, less accumulated amortization of $53,670 and $55,447, respectively 25,836 28,206
Cash, cash equivalents and restricted cash 4,113 4,150
Tenant rent receivables 4,337 7,656
Straight-line rent receivable 69,743 67,789
Prepaid expenses and other assets 5,873 5,752
Related party mortgage loan receivable 21,000 21,000
Office computers and furniture, net of accumulated depreciation of $1,459 and $1,443, respectively 147 163
Deferred leasing commissions, net of accumulated amortization of $26,384 and $30,411, respectively 56,771 56,452
Total assets 1,789,433 1,793,184
Liabilities:    
Bank note payable 27,500 3,500
Term loans payable, less unamortized financing costs of $2,332 and $2,677, respectively 717,668 717,323
Series A & Series B Senior Notes, less unamortized financing costs of $781 and $822, respectively 199,219 199,178
Accounts payable and accrued expenses 63,456 72,058
Accrued compensation 1,390 3,918
Tenant security deposits 8,041 8,677
Lease liability 1,444 1,536
Other liabilities: derivative liabilities 13,698 17,311
Acquired unfavorable real estate leases, less accumulated amortization of $3,959 and $4,031, respectively 1,433 1,592
Total liabilities 1,033,849 1,025,093
Commitments and contingencies
Stockholders' Equity:    
Preferred stock, $.0001 par value, 20,000,000 shares authorized, none issued or outstanding
Common stock, $.0001 par value, 180,000,000 shares authorized, 107,328,199 and 107,328,199 shares issued and outstanding, respectively 11 11
Additional paid-in capital 1,357,131 1,357,131
Accumulated other comprehensive income (13,698) (17,311)
Accumulated distributions in excess of accumulated earnings (587,860) (571,740)
Total stockholders' equity 755,584 768,091
Total liabilities and stockholders' equity $ 1,789,433 $ 1,793,184