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Note 3 - Business Change - Changes on Balance Sheet (Details) - USD ($)
Sep. 30, 2022
Jul. 01, 2022
Jun. 30, 2022
Dec. 31, 2021
Sep. 30, 2021
Jun. 30, 2021
Dec. 31, 2020
Land $ 47,708,000 $ 21,208,000 $ 0        
Buildings and improvements 161,695,000 158,304,000 0        
Intangible lease assets 10,979,000 10,979,000 0        
Construction in progress 43,973,000 46,052,000 0        
Furniture, fixtures, and equipment 354,000 349,000 0        
Total Operating Real Estate Investments 264,709,000 236,892,000 0        
Investments, at fair value 704,475,000 804,617,000 1,129,544,000        
Equity method investments 141,373,000 143,264,000 0        
Life insurance policies, at fair value 66,150,000 56,440,000 0        
Cash and cash equivalents 29,211,000 16,136,000 4,044,000 $ 2,238,000      
Restricted cash 34,487,000 34,640,000 0 440,000      
Accounts receivable, net   4,849,000 0        
Accrued interest and dividends 3,653,000 4,045,000 172,000 913,000      
Prepaid and other assets 6,172,000 5,414 [1] 3,896 [1] 510,000      
TOTAL ASSETS 1,254,878,000 1,306,297,000 1,137,656,000 1,048,014,000      
Mortgages payable, net 144,913,000 145,908,000 0        
Notes payable, net 27,250,000 23,500,000 16,000,000 42,500,000      
Prime brokerage borrowing 10,059,000 7,492,000 7,492,000 9,188,000      
Accounts payable and other accrued liabilities 11,521,000 3,590,000 1,296,000        
Accrued real estate taxes payable 3,432,000 2,323,000 0        
Accrued interest payable 820,000 639,000 0 63,000      
Security deposit liability 449,000 434,000 0        
Prepaid rents 2,077,000 1,845,000 0        
Intangible lease liabilities 6,399,000 6,770 [1] 0 [1]        
Due to affiliates   928,000 0        
Total Liabilities 207,821,000 193,429,000 24,788,000 53,554,000      
Series A cumulative preferred shares, net of deferred financing costs   0 [2] 83,252 [2] 83,252,000      
Preferred stock, $0.001 par value: 4,800,000 shares authorized; 3,359,593 shares issued and outstanding 3,000 3,000 3,000        
Common stock, $0.001 par value: unlimited shares authorized; 37,171,807 shares issued and outstanding 37,000 37,000 37,000        
Additional paid-in capital 998,465,000 998,557,000 915,305,000 913,920,000      
Accumulated earnings less dividends 48,552,000 114,271,000 114,271,000 (2,712,000)      
Total Stockholders' Equity 1,047,057,000 1,112,868,000 1,029,616,000 $ 911,208,000 $ 835,096,000 $ 791,423,000 $ 790,825,000
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 1,254,878,000 1,306,297,000 $ 1,137,656,000        
Cumulative Effect, Period of Adoption, Adjustment [Member]              
Land [1]   21,208,000          
Buildings and improvements [1]   158,304,000          
Intangible lease assets [1]   10,979,000          
Construction in progress [1]   46,052,000          
Furniture, fixtures, and equipment [1]   349,000          
Total Operating Real Estate Investments   236,892,000          
Investments, at fair value [3]   (324,927,000)          
Equity method investments [4]   143,264,000          
Life insurance policies, at fair value [3]   56,440,000          
Cash and cash equivalents [1]   12,092,000          
Restricted cash [1]   34,640,000          
Accounts receivable, net [1]   4,849,000          
Accrued interest and dividends [1]   3,873,000          
Prepaid and other assets [1]   1,518          
TOTAL ASSETS   168,641,000          
Mortgages payable, net [1]   145,908,000          
Notes payable, net [1]   7,500,000          
Prime brokerage borrowing   0          
Accounts payable and other accrued liabilities [1]   2,294,000          
Accrued real estate taxes payable [1]   2,323,000          
Accrued interest payable [1]   639,000          
Security deposit liability [1]   434,000          
Prepaid rents [1]   1,845,000          
Intangible lease liabilities [1]   6,770          
Due to affiliates [1]   928,000          
Total Liabilities   168,641,000          
Series A cumulative preferred shares, net of deferred financing costs [2]   (83,252)          
Preferred stock, $0.001 par value: 4,800,000 shares authorized; 3,359,593 shares issued and outstanding   0          
Common stock, $0.001 par value: unlimited shares authorized; 37,171,807 shares issued and outstanding   0          
Additional paid-in capital [2]   83,252,000          
Accumulated earnings less dividends   0          
Total Stockholders' Equity   83,252,000          
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY   $ 168,641,000          
[1] Change due to consolidation of subsidiaries that were previously accounted for at fair value.
[2] The mandatory redemption feature of the Series A Preferred Shares (defined below) expired on the Deregistration Date. As such, the Series A Preferred Shares are now accounted for as a component permanent equity.
[3] Change due to investments that were previously accounted for at fair value being consolidated or accounted for using the equity method.
[4] Change due to applying the equity method to investments that were previously carried at fair value. See Note 8 for more information on the Company's equity method investments.