XML 12 R2.htm IDEA: XBRL DOCUMENT v3.22.2.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2022
Dec. 31, 2021
Real estate properties    
Land $ 200,686 $ 204,801
Building and improvement 1,233,713 1,244,177
Tenant improvement 134,785 119,011
Furniture, fixtures and equipment 673 664
Real estate properties, gross 1,569,857 1,568,653
Accumulated depreciation (178,237) (157,356)
Real estate properties, net 1,391,620 1,411,297
Cash and cash equivalents 22,012 21,321
Restricted cash 19,669 20,945
Rents receivable, net 39,700 30,415
Deferred leasing costs, net 22,060 20,327
Acquired lease intangible assets, net 58,580 68,925
Other assets 30,638 28,283
Total Assets 1,584,279 1,601,513
Liabilities:    
Debt 676,116 653,648
Accounts payable and accrued liabilities 38,091 27,101
Deferred rent 8,921 11,600
Tenant rent deposits 7,014 6,165
Acquired lease intangible liabilities, net 9,602 10,872
Other liabilities 20,199 21,532
Total Liabilities 759,943 730,918
Commitments and Contingencies (Note 9)
Equity:    
6.625% Series A Preferred stock, $0.01 par value per share, 5,600,000 shares authorized, 4,480,000 issued and outstanding as of September 30, 2022 and December 31, 2021 112,000 112,000
Common stock, $0.01 par value, 100,000,000 shares authorized, 39,718,767 and 43,554,375 shares issued and outstanding as of September 30, 2022 and December 31, 2021 397 435
Additional paid-in capital 435,086 482,061
Retained earnings 273,843 275,502
Accumulated other comprehensive income/(loss) 2,819 (382)
Total Stockholders' Equity 824,145 869,616
Non-controlling interests in properties 191 979
Total Equity 824,336 870,595
Total Liabilities and Equity $ 1,584,279 $ 1,601,513