Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.20.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
ASSETS    
Investments in real estate, net $ 799,456 $ 792,081
Lease intangibles, net 4,001 4,827
Cash and cash equivalents 30,232 13,688
Other assets, net 7,431 6,191
TOTAL ASSETS 841,120 816,787
LIABILITIES:    
Borrowings under lines of credit 100 100
Notes and bonds payable, net 477,426 481,829
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 March 31, 2020, and December 31, 2019, net 28,418 28,359
Accounts payable and accrued expenses 8,733 10,132
Due to related parties, net 2,921 2,169
Other liabilities, net 15,467 15,228
Total liabilities 533,065 537,817
Commitments and contingencies (Note 7)
Stockholders’ equity:    
Preferred stock, value 6 5
Common stock, $0.001 par value; 65,522,353 shares authorized 21,346,458 shares issued and outstanding as of March 31, 2020; 91,514,600 shares authorized, 20,936,658 shares issued and outstanding as of December 31, 2019 21 21
Additional paid-in capital 348,020 315,770
Accumulated other comprehensive loss (1,647) (390)
Distributions in excess of accumulated earnings (40,701) (38,785)
Total stockholders’ equity 305,699 276,621
Non-controlling interests in Operating Partnership 2,356 2,349
Total equity 308,055 278,970
TOTAL LIABILITIES AND EQUITY $ 841,120 $ 816,787