Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.21.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2021
Dec. 31, 2020
ASSETS    
Investments in real estate, net $ 1,046,371 $ 1,046,203
Lease intangibles, net 4,390 3,732
Cash and cash equivalents 72,894 9,218
Other assets, net 10,811 8,136
TOTAL ASSETS 1,134,466 1,067,289
LIABILITIES:    
Borrowings under lines of credit 100 100
Notes and bonds payable, net 628,912 623,961
Accounts payable and accrued expenses 8,573 9,081
Due to related parties, net 3,146 2,484
Other liabilities, net 17,696 19,279
Total liabilities 716,799 683,499
Commitments and contingencies (Note 7)
Stockholders’ equity:    
Common stock, $0.001 par value; 63,094,073 shares authorized, 27,531,951 shares issued and outstanding as of March 31, 2021; 65,544,073 shares authorized, 26,219,019 shares issued and outstanding as of December 31, 2020 27 26
Additional paid-in capital 476,996 440,470
Accumulated other comprehensive loss (133) (1,500)
Distributions in excess of accumulated earnings (61,066) (55,213)
Total stockholders’ equity 415,832 383,790
Non-controlling interests in Operating Partnership 1,835 0
Total equity 417,667 383,790
TOTAL LIABILITIES AND EQUITY 1,134,466 1,067,289
Series A Preferred Stock    
LIABILITIES:    
Cumulative term preferred stock, value 0 28,594
Series D Preferred Stock    
LIABILITIES:    
Cumulative term preferred stock, value 58,372 0
Series B Preferred Stock    
Stockholders’ equity:    
Cumulative redeemable preferred stock, value 6 6
Series C Preferred Stock    
Stockholders’ equity:    
Cumulative redeemable preferred stock, value $ 2 $ 1