Quarterly report [Sections 13 or 15(d)]

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
Real estate investments, at cost:    
Land $ 167,254 $ 176,532
Buildings, fixtures and improvements 962,663 976,676
Total real estate investments, at cost 1,129,917 1,153,208
Less: accumulated depreciation 204,111 195,042
Total real estate investments, net 925,806 958,166
Accounts receivable, net 44,553 35,333
Intangible lease assets, net 74,054 75,947
Cash and cash equivalents 13,731 22,362
Restricted cash 50,450 38,277
Real estate assets held for sale, net 0 12,803
Other assets, net 27,956 27,614
Total assets 1,136,550 1,170,502
LIABILITIES AND EQUITY    
Mortgages payable, net 331,955 371,957
Credit facility revolver 102,000 92,000
Accounts payable and accrued expenses 26,860 40,219
Below-market lease liabilities, net 16,964 18,449
Distributions payable 1,141 1,208
Other liabilities, net 27,254 22,154
Total liabilities 506,174 545,987
Common stock, $0.001 par value, 100,000,000 shares authorized 57,044,714 and 56,314,634 shares issued and outstanding as of September 30, 2026 and December 31, 2025, respectively 57 56
Additional paid-in capital 1,153,510 1,151,644
Accumulated other comprehensive loss 0 (5)
Accumulated deficit (524,436) (528,482)
Total stockholders’ equity 629,131 623,213
Non-controlling interest 1,245 1,302
Total equity 630,376 624,515
Total liabilities and equity $ 1,136,550 $ 1,170,502