Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.21.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2021
Dec. 31, 2020
ASSETS    
Real estate, at cost $ 1,165,366 $ 1,095,439
Less: accumulated depreciation (60,402) (49,236)
Real estate, at cost 1,104,964 1,046,203
Lease intangibles, net 5,038 3,732
Cash and cash equivalents 66,789 9,218
Other assets, net 24,843 8,136
TOTAL ASSETS 1,201,634 1,067,289
LIABILITIES:    
Borrowings under lines of credit 100 100
Notes and bonds payable, net 627,408 623,961
Accounts payable and accrued expenses 10,806 9,081
Due to related parties, net 1,994 2,484
Other liabilities, net 21,530 19,279
Total liabilities 720,320 683,499
Commitments and contingencies (Note 7)
Stockholders’ equity:    
Common stock, $0.001 par value; 63,944,073 shares authorized, 30,478,064 shares issued and outstanding as of June 30, 2021; 65,544,073 shares authorized, 26,219,019 shares issued and outstanding as of December 31, 2020 30 26
Additional paid-in capital 549,123 440,470
Distributions in excess of accumulated earnings (68,533) (55,213)
Accumulated other comprehensive loss (1,344) (1,500)
Total stockholders’ equity 479,284 383,790
Non-controlling interests in Operating Partnership 2,030 0
Total equity 481,314 383,790
TOTAL LIABILITIES AND EQUITY 1,201,634 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 58,482 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