Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2021
Dec. 31, 2020
ASSETS    
Real estate, at cost $ 1,223,935 $ 1,095,439
Less: accumulated depreciation (67,007) (49,236)
Real estate, at cost 1,156,928 1,046,203
Lease intangibles, net 4,742 3,732
Cash and cash equivalents 66,491 9,218
Other assets, net 33,675 8,136
TOTAL ASSETS 1,261,836 1,067,289
LIABILITIES:    
Borrowings under lines of credit 100 100
Notes and bonds payable, net 645,967 623,961
Accounts payable and accrued expenses 8,409 9,081
Due to related parties, net 3,181 2,484
Other liabilities, net 20,138 19,279
Total liabilities 736,389 683,499
Commitments and contingencies (Note 7)
Stockholders’ equity:    
Common stock, $0.001 par value; 63,953,993 shares authorized, 32,043,989 shares issued and outstanding as of September 30, 2021; 65,544,073 shares authorized, 26,219,019 shares issued and outstanding as of December 31, 2020 32 26
Additional paid-in capital 598,693 440,470
Distributions in excess of accumulated earnings (74,427) (55,213)
Accumulated other comprehensive loss (987) (1,500)
Total stockholders’ equity 523,320 383,790
Non-controlling interests in Operating Partnership 2,127 0
Total equity 525,447 383,790
TOTAL LIABILITIES AND EQUITY 1,261,836 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 58,594 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 $ 3 $ 1