|12 Months Ended
Dec. 31, 2022
|Subsequent Events [Abstract]
In January 2023, periods of heavy rainfall in California resulted in floods that impacted several areas of the state, including regions where certain of our farms are located. As a result of this flooding, one of our farms in the Central Valley suffered damage to certain structures located on the farm. We are still in the process of assessing the damage, but at this time, we do not expect the cost of repairs to exceed $1.0 million. In addition, we expect the damage to be fully covered by either insurance or the tenant’s obligations pursuant to the lease. None of our other farms in California were materially impacted by the floods.
Debt Activity—Loan Maturities
Subsequent to December 31, 2022, we repaid an $8.1 million maturing bond that bore interest at an annual rate of 3.53%.
The following table provides information on equity sales that have occurred subsequent to December 31, 2022 (dollars in thousands, except per-share amounts):
(1)Net of Selling Commissions and Dealer-Manager Fees or underwriting discounts and commissions (in each case, as applicable).
On January 10, 2023 our Board of Directors authorized and we declared the following monthly cash distributions to holders of our preferred and common stock (distributions to holders of our Series E Preferred Stock were authorized and declared on January 18, 2023):
(1)The same amounts paid to common stockholders will be paid as distributions on each OP Unit held by non-controlling OP Unitholders as of the above record dates.