Quarterly report pursuant to Section 13 or 15(d)

Subsequent Events

v3.24.3
Subsequent Events
 9 Months Ended
Sep. 30, 2024
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS SUBSEQUENT EVENTS
Portfolio Activity—Dispositions
Subsequent to September 30, 2024, we entered into agreements to sell 11 blueberry farms located in Allegan and Van Buren, Michigan, for total consideration of approximately $5.0 million, exclusive of closing costs. As of September 30, 2024, the aggregate carrying value of these farms was approximately $5.0 million and was included in Total real estate, net on our Condensed Consolidated Balance Sheets. We currently expect these sales to be completed during the three months ending December 31, 2024.
Financing Activity
Equity Activity—Equity Issuances
The following table provides information on equity sales that occurred subsequent to September 30, 2024 (dollars in thousands, except per-share amounts):
Type of Issuance Number of
Shares Sold		 Weighted Average Offering Price
Per Share		 Gross Proceeds
Net Proceeds(1)
Common Stock – ATM Program 346,216 $ 13.52  $ 4,680  $ 4,633 
(1)Net of Selling Commissions and Dealer-Manager Fees or underwriting discounts and commissions (in each case, as applicable).
Distributions
On October 8, 2024, our Board of Directors declared the following monthly cash distributions to holders of our preferred and common stock:
Issuance Record Date Payment Date Distribution per Share
Series B Preferred Stock: October 22, 2024 October 31, 2024 $ 0.125 
November 20, 2024 November 29, 2024 0.125 
December 20, 2024 December 31, 2024 0.125 
Total Series B Preferred Stock Distributions: $ 0.375 
Series C Preferred Stock: October 22, 2024 October 31, 2024 $ 0.125 
November 20, 2024 November 29, 2024 0.125 
December 20, 2024 December 31, 2024 0.125 
Total Series C Preferred Stock Distributions: $ 0.375 
Series D Term Preferred Stock: October 22, 2024 October 31, 2024 $ 0.104167 
November 20, 2024 November 29, 2024 0.104167 
December 20, 2024 December 31, 2024 0.104167 
Total Series D Term Preferred Stock Distributions: $ 0.312501 
Series E Preferred Stock: October 24, 2024 November 4, 2024 $ 0.104167 
November 27, 2024 December 4, 2024 0.104167 
December 23, 2024 January 3, 2025 0.104167 
Total Series E Preferred Stock Distributions: $ 0.312501 
Common Stock(1):
October 22, 2024 October 31, 2024 $ 0.0467 
November 20, 2024 November 29, 2024 0.0467 
December 20, 2024 December 31, 2024 0.0467 
Total Common Stock Distributions $ 0.1401 
(1)The same amounts paid to common stockholders were or will be paid as distributions on each OP Unit held by non-controlling OP Unitholders, if any, as of the above record dates.