Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Investment properties:
Land and improvements	$ 408,064	$ 422,114
Building and other improvements	492,937	497,523
Gross investment properties	901,001	919,637
Less: accumulated depreciation	(41,818)	(27,742)
Net investment properties	859,183	891,895
Cash and cash equivalents	38,026	48,922
Accounts receivable	39,504	42,685
Lease intangible assets, net	212,001	228,529
Right-of-use lease assets, net	85,254	87,086
Other assets, net	522	831
Total assets	1,234,490	1,299,948
Liabilities:
Accounts payable and accrued expenses	1,224	1,061
Lease intangible liabilities, net	93,078	101,920
Lease liabilities	37,763	37,676
Other liabilities	8,603	8,628
Total liabilities	140,668	149,285
Commitments and contingencies (Note 6)
Equity:
Trust certificates, no par value, 75,000,000 certificates authorized, issued and outstanding, as of December 31, 2023 and 2022	0	0
Additional paid-in capital	1,952,120	1,952,120
Accumulated distributions in excess of earnings	(858,298)	(801,457)
Total equity	1,093,822	1,150,663
Total liabilities and equity	$ 1,234,490	$ 1,299,948