Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.20.4
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2020
Dec. 31, 2019
ASSETS    
Investments in real estate, net $ 1,046,203 $ 792,081
Lease intangibles, net 3,732 4,827
Cash and cash equivalents 9,218 13,688
Other assets, net 8,136 6,191
TOTAL ASSETS 1,067,289 816,787
LIABILITIES:    
Borrowings under lines of credit 100 100
Notes and bonds payable, net 623,961 481,829
Series A cumulative term preferred stock, $0.001 par value; $25.00 per share liquidation preference; 2,000,000 shares authorized, 1,150,000 shares issued and outstanding as of December 31, 2020 and 2019, net 28,594 28,359
Accounts payable and accrued expenses 9,081 10,132
Due to related parties, net 2,484 2,169
Other liabilities, net 19,279 15,228
Total liabilities 683,499 537,817
Commitments and contingencies (Note 7)
Stockholders’ equity:    
Common stock, $0.001 par value; 65,544,073 shares authorized, 26,219,019 shares issued and outstanding as of December 31, 2020; 91,514,600 shares authorized, 20,936,658 shares issued and outstanding as of December 31, 2019 26 21
Additional paid-in capital 440,470 315,770
Accumulated other comprehensive loss (1,500) (390)
Distributions in excess of accumulated earnings (55,213) (38,785)
Total stockholders’ equity 383,790 276,621
Non-controlling interests in Operating Partnership 0 2,349
Total equity 383,790 278,970
TOTAL LIABILITIES AND EQUITY 1,067,289 816,787
Series B Preferred Stock    
Stockholders’ equity:    
Preferred stock, value 6 5
Series C Preferred Stock    
Stockholders’ equity:    
Preferred stock, value $ 1 $ 0