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NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESInterim Financial InformationThe accompanying unaudited consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. These unaudited consolidated financial statements do not include all of the information and notes required by accounting principles generally accepted in the United States of America (“U.S. GAAP”) for complete financial statements, and should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, which provides a more complete understanding of the Company’s accounting policies, financial position, operating results, business properties, and other matters. The unaudited consolidated financial statements reflect all adjustments which are, in the opinion of management, necessary to present fairly the financial position of the Company and the results of operations for the interim periods. The results of operations for the three months ended March 31, 2022 are not necessarily indicative of results to be expected for the year ending December 31, 2022. Principles of ConsolidationThe consolidated financial statements include the accounts of the Company, its wholly owned subsidiaries, and other entities in which we have a controlling interest. Any real estate entities or properties included in the consolidated financial statements have been consolidated only for the periods that such entities or properties were owned or under control by us. All inter-company balances and transactions have been eliminated in the consolidated financial statements. As of March 31, 2022, the Company has an equity investment in PINE. Prior to the Interest Purchase (hereinafter defined in Note 7, “Investment in Joint Ventures”) completed on September 30, 2021, the Company held a 30% retained interest in the entity that owns the Mitigation Bank. Additionally, the Company held a 33.5% retained interest in the entity that held approximately 1,600 acres of undeveloped land in Daytona Beach, Florida (the “Land JV”) prior the sale of all of its remaining land holdings, which sale was completed on December 10, 2021, for $66.3 million to Timberline Acquisition Partners, LLC an affiliate of Timberline Real Estate Partners (the “Land JV Sale”).Use of Estimates in the Preparation of Financial StatementsThe preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.Among other factors, fluctuating market conditions that can exist in the national real estate markets and the volatility and uncertainty in the financial and credit markets make it possible that the estimates and assumptions, most notably those related to the Company’s investments in income properties, could change materially due to continued volatility in the real estate and financial markets, or as a result of a significant dislocation in those markets.Recently Issued Accounting StandardsCessation of LIBOR. In January 2021, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2021-01 which is in response to concerns about structural risks of interbank offered rates (“IBORs”), and, particularly, the risk of cessation of the London Interbank Offered Rate (“LIBOR”), regulators in numerous jurisdictions around the world have undertaken reference rate reform initiatives to identify alternative reference rates that are more observable or transaction based and less susceptible to manipulation. The amendments in ASU 2021-01 are effective immediately and clarify that certain optional expedients and exceptions in Topic 848 for contract modifications and hedge accounting apply to derivatives that are affected by the discounting transition. The Company believes that its interest rate swaps, hereinafter described in Note 17, “Interest Rate Swaps”, meet the scope of Topic 848-10-15-3A and therefore, Company will be able to continue to apply a perfectly effective assessment method for each interest rate swap by electing the corresponding optional expedient for subsequent assessments. Debt with Conversion and Other Options. In August 2020, the FASB issued ASU 2020-06 related to simplifying the accounting for convertible instruments by removing certain separation models for convertible instruments. Among other things, the amendments in the update also provide for improvements in the consistency in EPS calculations by amending the guidance by requiring that an entity use the if-converted method for convertible instruments. The amendments in ASU 2020-06 are effective for reporting periods beginning after December 15, 2021. Effective January 1, 2022, the Company adopted ASU 2020-06 whereby diluted EPS includes the dilutive impact, if any, of the 2025 Notes (hereinafter defined) using the if-converted method. Further, the Company elected, upon adoption, to utilize the modified retrospective approach, negating the required restatement of EPS for periods prior to adoption.Cash and Cash EquivalentsCash and cash equivalents includes cash on hand, bank demand accounts, and money market accounts having original maturities of 90 days or less. The Company’s bank balances as of March 31, 2022 and December 31, 2021 include certain amounts over the Federal Deposit Insurance Corporation limits.Restricted CashRestricted cash totaled $26.4 million at March 31, 2022, of which $24.3 million is being held in various escrow accounts to be reinvested through the like-kind exchange structure into other income properties, $0.6 million is being held in an escrow account in connection with the Mitigation Bank as required by the applicable state and federal permitting authorities, and the remaining $1.5 million is being held in various escrow accounts related to certain tenant improvements and commissions payable. Derivative Financial Instruments and Hedging ActivityInterest Rate Swaps. The Company accounts for its cash flow hedging derivatives in accordance with FASB ASC Topic 815-20, Derivatives and Hedging. Depending upon the hedge’s value at each balance sheet date, the derivatives are included in either other assets or accrued and other liabilities on the consolidated balance sheet at its fair value. On the date each interest rate swap was entered into, the Company designated the derivatives as a hedge of the variability of cash flows to be paid related to the recognized long-term debt liabilities. The Company documented the relationship between the hedging instruments and the hedged item, as well as its risk-management objective and strategy for undertaking the hedge transactions. At the hedges’ inception, the Company assessed whether the derivatives that are used in hedging the transactions are highly effective in offsetting changes in cash flows of the hedged items, and we will continue to do so on a quarterly basis. Changes in fair value of the hedging instruments that are highly effective and designated and qualified as cash-flow hedges are recorded in other comprehensive income and loss, until earnings are affected by the variability in cash flows of the designated hedged items.Fair Value of Financial InstrumentsThe carrying amounts of the Company’s financial assets and liabilities including cash and cash equivalents, restricted cash, accounts receivable, accounts payable, and accrued and other liabilities at March 31, 2022 and December 31, 2021, approximate fair value because of the short maturity of these instruments. The carrying value of the Company’s Credit Facility (hereinafter defined) as of March 31, 2022 and December 31, 2021, approximates current market rates for revolving credit arrangements with similar risks and maturities. The face value of the Company’s fixed rate commercial loan and master lease investments, the 2026 Term Loan (hereinafter defined), the 2027 Term Loan (hereinafter defined), mortgage note, and convertible debt held as of March 31, 2022 and December 31, 2021 are measured at fair value based on current market rates for financial instruments with similar risks and maturities (see Note 9, “Fair Value of Financial Instruments”).Fair Value Measurements The Company’s estimates of fair value of financial and non-financial assets and liabilities is based on the framework established by U.S. GAAP. The framework specifies a hierarchy of valuation inputs which was established to increase consistency, clarity and comparability in fair value measurements and related disclosures. U.S. GAAP describes a fair value hierarchy based upon three levels of inputs that may be used to measure fair value, two of which are considered observable and one that is considered unobservable. The following describes the three levels:<table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.14;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:24.5pt;"/><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">Level 1 – Valuation is based upon quoted prices in active markets for identical assets or liabilities.</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.14;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:24.5pt;"/><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">Level 2 – Valuation is based upon inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.14;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:24.5pt;"/><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">Level 3 – Valuation is generated from model-based techniques that use at least one significant assumption not observable in the market. These unobservable assumptions reflect estimates of assumptions that market participants would use in pricing the asset or liability. Valuation techniques include option pricing models, discounted cash flow models and similar techniques.</td></tr></table>Recognition of Interest Income from Commercial Loan and Master Lease InvestmentsInterest income on commercial loan and master lease investments includes interest payments made by the borrower and the accretion of purchase discounts and loan origination fees, offset by the amortization of loan costs. Interest payments are accrued based on the actual coupon rate and the outstanding principal balance and purchase discounts and loan origination fees are accreted into income using the effective yield method, adjusted for prepayments. Mitigation CreditsMitigation credits are stated at historical cost. As these assets are sold, the related revenues and cost of sales are reported as revenues from, and direct costs of, real estate operations, respectively, in the consolidated statements of operations.Accounts ReceivableAccounts receivable related to income properties, which are classified in other assets on the consolidated balance sheets, primarily consist of accrued tenant reimbursable expenses and other tenant receivables. Receivables related to income property tenants totaled $1.7 million and $0.9 million as of March 31, 2022 and December 31, 2021, respectively. The $0.8 million increase is primarily attributable to an increase in estimated accrued receivables for variable lease payments including common area maintenance, insurance, real estate taxes and other operating expenses.Accounts receivable related to real estate operations, which are classified in other assets on the consolidated balance sheets, totaled $1.1 million as of March 31, 2022 and December 31, 2021. The accounts receivable as of March 31, 2022 and December 31, 2021 are primarily related to the reimbursement of certain infrastructure costs completed by the Company in conjunction with two land sale transactions that closed during the fourth quarter of 2015 as more fully described in Note 12, “Other Assets.”As of March 31, 2022 and December 31, 2021, $0.3 million was due from the buyer of the golf operations for the rounds surcharge the Company paid to the City of Daytona Beach.The collectability of the aforementioned receivables shall be considered and adjusted through an allowance for credit losses pursuant to ASC 326, Financial Instruments-Credit Losses. As of March 31, 2022 and December 31, 2021, the Company recorded an allowance for doubtful accounts of $0.5 million.Purchase Accounting for Acquisitions of Real Estate Subject to a LeaseInvestments in real estate are carried at cost less accumulated depreciation and impairment losses, if any. The cost of investments in real estate reflects their purchase price or development cost. We evaluate each acquisition transaction to determine whether the acquired asset meets the definition of a business. Under ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business, an acquisition does not qualify as a business when there is no substantive process acquired or substantially all of the fair value is concentrated in a single identifiable asset or group of similar identifiable assets or the acquisition does not include a substantive process in the form of an acquired workforce or an acquired contract that cannot be replaced without significant cost, effort or delay. Transaction costs related to acquisitions that are asset acquisitions are capitalized as part of the cost basis of the acquired assets, while transaction costs for acquisitions that are deemed to be acquisitions of a business are expensed as incurred. Improvements and replacements are capitalized when they extend the useful life or improve the productive capacity of the asset. Costs of repairs and maintenance are expensed as incurred.In accordance with FASB guidance, the fair value of the real estate acquired with in-place leases is allocated to the acquired tangible assets, consisting of land, building and tenant improvements, and identified intangible assets and liabilities, consisting of the value of above-market and below-market leases, the value of in-place leases, and the value of leasing costs, based in each case on their relative fair values. In allocating the fair value of the identified intangible assets and liabilities of an acquired property, above-market and below-market in-place lease values are recorded as other assets or liabilities based on the present value. The capitalized above-market lease values are amortized as a reduction of rental income over the remaining terms of the respective leases. The capitalized below-market lease values are amortized as an increase to rental income over the initial term unless management believes that it is likely that the tenant will renew the lease upon expiration, in which case the Company amortizes the value attributable to the renewal over the renewal period. The value of in-place leases and leasing costs are amortized to expense over the remaining non-cancelable periods of the respective leases. If a lease were to be terminated prior to its stated expiration, all unamortized amounts relating to that lease would be written off.Sales of Real EstateWhen income properties are disposed of, the related cost basis of the real estate, intangible lease assets, and intangible lease liabilities, net of accumulated depreciation and/or amortization, and any accrued straight-line rental income balance for the underlying operating leases are removed, and gains or losses from the dispositions are reflected in net income within gain (loss) on disposition of assets. In accordance with the FASB guidance, gains or losses on sales of real estate are generally recognized using the full accrual method.Gains and losses on land sales, in addition to the sale of Subsurface Interests and mitigation credits, are accounted for as required by FASB ASC Topic 606, Revenue from Contracts with Customers. The Company recognizes revenue from such sales when the Company transfers the promised goods in the contract based on the transaction price allocated to the performance obligations within the contract. As market information becomes available, the underlying cost basis is analyzed and recorded at the lower of cost or market.Income TaxesThe Company elected to be taxed as a REIT for U.S. federal income tax purposes under the Internal Revenue Code of 1986, as amended (the “Code”) commencing with its taxable year ended December 31, 2020. The Company believes that, commencing with such taxable year, it has been organized and has operated in such a manner as to qualify for taxation as a REIT under the U.S. federal income tax laws. The Company intends to continue to operate in such a manner. As a REIT, the Company will be subject to U.S. federal and state income taxation at corporate rates on its net taxable income; the Company, however, may claim a deduction for the amount of dividends paid to its stockholders. Amounts distributed as dividends by the Company will be subject to taxation at the stockholder level only. While the Company must distribute at least 90% of its REIT taxable income, determined without regard to the dividends paid deduction and excluding any net capital gain, to qualify as a REIT, the Company intends to distribute all of its net taxable income. The Company is allowed certain other non-cash deductions or adjustments, such as depreciation expense, when computing its REIT taxable income and distribution requirement. These deductions permit the Company to reduce its dividend payout requirement under U.S. federal income tax laws. Certain states may impose minimum franchise taxes. To comply with certain REIT requirements, the Company holds certain of its non-REIT assets and operations through taxable REIT subsidiaries (“TRSs”) and subsidiaries of TRSs, which will be subject to applicable U.S. federal, state and local corporate income tax on their taxable income. For the periods presented, the Company held a total of two TRSs subject to taxation. The Company’s TRSs will file tax returns separately as C-Corporations.The Company uses the asset and liability method to account for income taxes for the Company’s TRSs. Deferred income taxes result primarily from the net tax effect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes (see Note 21, “Income Taxes”). In June 2006, the FASB issued additional guidance, which clarifies the accounting for uncertainty in income taxes recognized in a company’s financial statements included in income taxes. The interpretation prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. The interpretation also provides guidance on de-recognition, classification, interest and penalties, accounting in interim periods, and disclosure and transition. In accordance with FASB guidance included in income taxes, the Company has analyzed its various federal and state filing positions and believes that its income tax filing positions and deductions are well documented and supported. Additionally, the Company believes that its accruals for tax liabilities are adequate. Therefore, no reserves for uncertain income tax positions have been recorded pursuant to the FASB guidance.

Interim Financial InformationThe accompanying unaudited consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. These unaudited consolidated financial statements do not include all of the information and notes required by accounting principles generally accepted in the United States of America (“U.S. GAAP”) for complete financial statements, and should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, which provides a more complete understanding of the Company’s accounting policies, financial position, operating results, business properties, and other matters. The unaudited consolidated financial statements reflect all adjustments which are, in the opinion of management, necessary to present fairly the financial position of the Company and the results of operations for the interim periods. The results of operations for the three months ended March 31, 2022 are not necessarily indicative of results to be expected for the year ending December 31, 2022.

Principles of ConsolidationThe consolidated financial statements include the accounts of the Company, its wholly owned subsidiaries, and other entities in which we have a controlling interest. Any real estate entities or properties included in the consolidated financial statements have been consolidated only for the periods that such entities or properties were owned or under control by us. All inter-company balances and transactions have been eliminated in the consolidated financial statements. As of March 31, 2022, the Company has an equity investment in PINE. Prior to the Interest Purchase (hereinafter defined in Note 7, “Investment in Joint Ventures”) completed on September 30, 2021, the Company held a 30% retained interest in the entity that owns the Mitigation Bank. Additionally, the Company held a 33.5% retained interest in the entity that held approximately 1,600 acres of undeveloped land in Daytona Beach, Florida (the “Land JV”) prior the sale of all of its remaining land holdings, which sale was completed on December 10, 2021, for $66.3 million to Timberline Acquisition Partners, LLC an affiliate of Timberline Real Estate Partners (the “Land JV Sale”).

0.30

0.335

1600 66300000

Use of Estimates in the Preparation of Financial StatementsThe preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.Among other factors, fluctuating market conditions that can exist in the national real estate markets and the volatility and uncertainty in the financial and credit markets make it possible that the estimates and assumptions, most notably those related to the Company’s investments in income properties, could change materially due to continued volatility in the real estate and financial markets, or as a result of a significant dislocation in those markets.

Recently Issued Accounting StandardsCessation of LIBOR. In January 2021, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2021-01 which is in response to concerns about structural risks of interbank offered rates (“IBORs”), and, particularly, the risk of cessation of the London Interbank Offered Rate (“LIBOR”), regulators in numerous jurisdictions around the world have undertaken reference rate reform initiatives to identify alternative reference rates that are more observable or transaction based and less susceptible to manipulation. The amendments in ASU 2021-01 are effective immediately and clarify that certain optional expedients and exceptions in Topic 848 for contract modifications and hedge accounting apply to derivatives that are affected by the discounting transition. The Company believes that its interest rate swaps, hereinafter described in Note 17, “Interest Rate Swaps”, meet the scope of Topic 848-10-15-3A and therefore, Company will be able to continue to apply a perfectly effective assessment method for each interest rate swap by electing the corresponding optional expedient for subsequent assessments. Debt with Conversion and Other Options. In August 2020, the FASB issued ASU 2020-06 related to simplifying the accounting for convertible instruments by removing certain separation models for convertible instruments. Among other things, the amendments in the update also provide for improvements in the consistency in EPS calculations by amending the guidance by requiring that an entity use the if-converted method for convertible instruments. The amendments in ASU 2020-06 are effective for reporting periods beginning after December 15, 2021. Effective January 1, 2022, the Company adopted ASU 2020-06 whereby diluted EPS includes the dilutive impact, if any, of the 2025 Notes (hereinafter defined) using the if-converted method. Further, the Company elected, upon adoption, to utilize the modified retrospective approach, negating the required restatement of EPS for periods prior to adoption.

Cash and Cash EquivalentsCash and cash equivalents includes cash on hand, bank demand accounts, and money market accounts having original maturities of 90 days or less. The Company’s bank balances as of March 31, 2022 and December 31, 2021 include certain amounts over the Federal Deposit Insurance Corporation limits.

26400000

24300000

600000

1500000

Derivative Financial Instruments and Hedging ActivityInterest Rate Swaps. The Company accounts for its cash flow hedging derivatives in accordance with FASB ASC Topic 815-20, Derivatives and Hedging. Depending upon the hedge’s value at each balance sheet date, the derivatives are included in either other assets or accrued and other liabilities on the consolidated balance sheet at its fair value. On the date each interest rate swap was entered into, the Company designated the derivatives as a hedge of the variability of cash flows to be paid related to the recognized long-term debt liabilities. The Company documented the relationship between the hedging instruments and the hedged item, as well as its risk-management objective and strategy for undertaking the hedge transactions. At the hedges’ inception, the Company assessed whether the derivatives that are used in hedging the transactions are highly effective in offsetting changes in cash flows of the hedged items, and we will continue to do so on a quarterly basis. Changes in fair value of the hedging instruments that are highly effective and designated and qualified as cash-flow hedges are recorded in other comprehensive income and loss, until earnings are affected by the variability in cash flows of the designated hedged items.

Fair Value of Financial InstrumentsThe carrying amounts of the Company’s financial assets and liabilities including cash and cash equivalents, restricted cash, accounts receivable, accounts payable, and accrued and other liabilities at March 31, 2022 and December 31, 2021, approximate fair value because of the short maturity of these instruments. The carrying value of the Company’s Credit Facility (hereinafter defined) as of March 31, 2022 and December 31, 2021, approximates current market rates for revolving credit arrangements with similar risks and maturities. The face value of the Company’s fixed rate commercial loan and master lease investments, the 2026 Term Loan (hereinafter defined), the 2027 Term Loan (hereinafter defined), mortgage note, and convertible debt held as of March 31, 2022 and December 31, 2021 are measured at fair value based on current market rates for financial instruments with similar risks and maturities (see Note 9, “Fair Value of Financial Instruments”).

Fair Value Measurements The Company’s estimates of fair value of financial and non-financial assets and liabilities is based on the framework established by U.S. GAAP. The framework specifies a hierarchy of valuation inputs which was established to increase consistency, clarity and comparability in fair value measurements and related disclosures. U.S. GAAP describes a fair value hierarchy based upon three levels of inputs that may be used to measure fair value, two of which are considered observable and one that is considered unobservable. The following describes the three levels:<table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.14;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:24.5pt;"/><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">Level 1 – Valuation is based upon quoted prices in active markets for identical assets or liabilities.</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.14;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:24.5pt;"/><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">Level 2 – Valuation is based upon inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.</td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.14;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:24.5pt;"/><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">Level 3 – Valuation is generated from model-based techniques that use at least one significant assumption not observable in the market. These unobservable assumptions reflect estimates of assumptions that market participants would use in pricing the asset or liability. Valuation techniques include option pricing models, discounted cash flow models and similar techniques.</td></tr></table>

Recognition of Interest Income from Commercial Loan and Master Lease InvestmentsInterest income on commercial loan and master lease investments includes interest payments made by the borrower and the accretion of purchase discounts and loan origination fees, offset by the amortization of loan costs. Interest payments are accrued based on the actual coupon rate and the outstanding principal balance and purchase discounts and loan origination fees are accreted into income using the effective yield method, adjusted for prepayments. Mitigation CreditsMitigation credits are stated at historical cost. As these assets are sold, the related revenues and cost of sales are reported as revenues from, and direct costs of, real estate operations, respectively, in the consolidated statements of operations.

Accounts ReceivableAccounts receivable related to income properties, which are classified in other assets on the consolidated balance sheets, primarily consist of accrued tenant reimbursable expenses and other tenant receivables. Receivables related to income property tenants totaled $1.7 million and $0.9 million as of March 31, 2022 and December 31, 2021, respectively. The $0.8 million increase is primarily attributable to an increase in estimated accrued receivables for variable lease payments including common area maintenance, insurance, real estate taxes and other operating expenses.Accounts receivable related to real estate operations, which are classified in other assets on the consolidated balance sheets, totaled $1.1 million as of March 31, 2022 and December 31, 2021. The accounts receivable as of March 31, 2022 and December 31, 2021 are primarily related to the reimbursement of certain infrastructure costs completed by the Company in conjunction with two land sale transactions that closed during the fourth quarter of 2015 as more fully described in Note 12, “Other Assets.”As of March 31, 2022 and December 31, 2021, $0.3 million was due from the buyer of the golf operations for the rounds surcharge the Company paid to the City of Daytona Beach.The collectability of the aforementioned receivables shall be considered and adjusted through an allowance for credit losses pursuant to ASC 326, Financial Instruments-Credit Losses. As of March 31, 2022 and December 31, 2021, the Company recorded an allowance for doubtful accounts of $0.5 million.

1700000 900000 800000 1100000 1100000 2 300000 300000

500000

Purchase Accounting for Acquisitions of Real Estate Subject to a LeaseInvestments in real estate are carried at cost less accumulated depreciation and impairment losses, if any. The cost of investments in real estate reflects their purchase price or development cost. We evaluate each acquisition transaction to determine whether the acquired asset meets the definition of a business. Under ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business, an acquisition does not qualify as a business when there is no substantive process acquired or substantially all of the fair value is concentrated in a single identifiable asset or group of similar identifiable assets or the acquisition does not include a substantive process in the form of an acquired workforce or an acquired contract that cannot be replaced without significant cost, effort or delay. Transaction costs related to acquisitions that are asset acquisitions are capitalized as part of the cost basis of the acquired assets, while transaction costs for acquisitions that are deemed to be acquisitions of a business are expensed as incurred. Improvements and replacements are capitalized when they extend the useful life or improve the productive capacity of the asset. Costs of repairs and maintenance are expensed as incurred.In accordance with FASB guidance, the fair value of the real estate acquired with in-place leases is allocated to the acquired tangible assets, consisting of land, building and tenant improvements, and identified intangible assets and liabilities, consisting of the value of above-market and below-market leases, the value of in-place leases, and the value of leasing costs, based in each case on their relative fair values. In allocating the fair value of the identified intangible assets and liabilities of an acquired property, above-market and below-market in-place lease values are recorded as other assets or liabilities based on the present value. The capitalized above-market lease values are amortized as a reduction of rental income over the remaining terms of the respective leases. The capitalized below-market lease values are amortized as an increase to rental income over the initial term unless management believes that it is likely that the tenant will renew the lease upon expiration, in which case the Company amortizes the value attributable to the renewal over the renewal period. The value of in-place leases and leasing costs are amortized to expense over the remaining non-cancelable periods of the respective leases. If a lease were to be terminated prior to its stated expiration, all unamortized amounts relating to that lease would be written off.

Income TaxesThe Company elected to be taxed as a REIT for U.S. federal income tax purposes under the Internal Revenue Code of 1986, as amended (the “Code”) commencing with its taxable year ended December 31, 2020. The Company believes that, commencing with such taxable year, it has been organized and has operated in such a manner as to qualify for taxation as a REIT under the U.S. federal income tax laws. The Company intends to continue to operate in such a manner. As a REIT, the Company will be subject to U.S. federal and state income taxation at corporate rates on its net taxable income; the Company, however, may claim a deduction for the amount of dividends paid to its stockholders. Amounts distributed as dividends by the Company will be subject to taxation at the stockholder level only. While the Company must distribute at least 90% of its REIT taxable income, determined without regard to the dividends paid deduction and excluding any net capital gain, to qualify as a REIT, the Company intends to distribute all of its net taxable income. The Company is allowed certain other non-cash deductions or adjustments, such as depreciation expense, when computing its REIT taxable income and distribution requirement. These deductions permit the Company to reduce its dividend payout requirement under U.S. federal income tax laws. Certain states may impose minimum franchise taxes. To comply with certain REIT requirements, the Company holds certain of its non-REIT assets and operations through taxable REIT subsidiaries (“TRSs”) and subsidiaries of TRSs, which will be subject to applicable U.S. federal, state and local corporate income tax on their taxable income. For the periods presented, the Company held a total of two TRSs subject to taxation. The Company’s TRSs will file tax returns separately as C-Corporations.The Company uses the asset and liability method to account for income taxes for the Company’s TRSs. Deferred income taxes result primarily from the net tax effect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes (see Note 21, “Income Taxes”). In June 2006, the FASB issued additional guidance, which clarifies the accounting for uncertainty in income taxes recognized in a company’s financial statements included in income taxes. The interpretation prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. The interpretation also provides guidance on de-recognition, classification, interest and penalties, accounting in interim periods, and disclosure and transition. In accordance with FASB guidance included in income taxes, the Company has analyzed its various federal and state filing positions and believes that its income tax filing positions and deductions are well documented and supported. Additionally, the Company believes that its accruals for tax liabilities are adequate. Therefore, no reserves for uncertain income tax positions have been recorded pursuant to the FASB guidance.

0.90 2

NOTE 3. INCOME PROPERTIESLeasing revenue consists of long-term rental revenue from retail, office, and commercial income properties, which is recognized as earned, using the straight-line method over the life of each lease. Lease payments below include straight-line base rental revenue as well as the non-cash accretion of above and below market lease amortization. The variable lease payments are comprised of percentage rent and reimbursements from tenants for common area maintenance, insurance, real estate taxes, and other operating expenses.The components of leasing revenue are as follows (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:48.18%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.89%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:21.56%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.89%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.89%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:21.56%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:48.18%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:51.81%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Three Months Ended</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:48.18%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:24.45%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, 2022</td><td style="vertical-align:bottom;width:2.89%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:24.45%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, 2021</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:48.18%;background:#cceeff;margin:0pt;padding:0pt;">Leasing Revenue</td><td style="vertical-align:bottom;white-space:nowrap;width:2.89%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:21.56%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.89%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.89%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:21.56%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:48.18%;margin:0pt;padding:0pt;">Lease Payments</td><td style="vertical-align:bottom;width:2.89%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:21.56%;margin:0pt;padding:0pt;"> 12,285</td><td style="vertical-align:bottom;white-space:nowrap;width:2.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.89%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:21.56%;margin:0pt;padding:0pt;"> 9,698</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:48.18%;background:#cceeff;margin:0pt;padding:0pt;">Variable Lease Payments</td><td style="vertical-align:bottom;width:2.89%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:21.56%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 2,883</td><td style="vertical-align:bottom;white-space:nowrap;width:2.89%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.89%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:21.56%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1,751</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:48.18%;margin:0pt;padding:0pt;">Total Leasing Revenue</td><td style="vertical-align:bottom;width:2.89%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:21.56%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 15,168</td><td style="vertical-align:bottom;white-space:nowrap;width:2.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.89%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:21.56%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 11,449</td></tr></table>Minimum future base rental revenue on non-cancelable leases subsequent to March 31, 2022, for the next five years ended December 31 are summarized as follows (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:72.8%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:middle;width:2.71%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:2.71%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:21.75%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:72.8%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Year Ending December 31,</td><td style="vertical-align:bottom;white-space:nowrap;width:2.71%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:24.47%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Amounts </td></tr><tr><td style="vertical-align:top;width:72.8%;background:#cceeff;margin:0pt;padding:0pt;">Remainder of 2022</td><td style="vertical-align:middle;width:2.71%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:2.71%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:21.75%;background:#cceeff;margin:0pt;padding:0pt;"> 40,077</td></tr><tr><td style="vertical-align:top;width:72.8%;margin:0pt;padding:0pt;">2023</td><td style="vertical-align:middle;width:2.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:2.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:21.75%;margin:0pt;padding:0pt;"> 51,224</td></tr><tr><td style="vertical-align:top;width:72.8%;background:#cceeff;margin:0pt;padding:0pt;">2024</td><td style="vertical-align:middle;width:2.71%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:2.71%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:21.75%;background:#cceeff;margin:0pt;padding:0pt;"> 49,231</td></tr><tr><td style="vertical-align:top;width:72.8%;margin:0pt;padding:0pt;">2025</td><td style="vertical-align:middle;width:2.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:2.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:21.75%;margin:0pt;padding:0pt;"> 47,631</td></tr><tr><td style="vertical-align:top;width:72.8%;background:#cceeff;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:middle;width:2.71%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:2.71%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:21.75%;background:#cceeff;margin:0pt;padding:0pt;"> 41,211</td></tr><tr><td style="vertical-align:top;width:72.8%;margin:0pt;padding:0pt;">2027</td><td style="vertical-align:middle;width:2.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:2.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:21.75%;margin:0pt;padding:0pt;"> 34,104</td></tr><tr><td style="vertical-align:top;width:72.8%;background:#cceeff;margin:0pt;padding:0pt;">2028 and Thereafter (Cumulative)</td><td style="vertical-align:middle;width:2.71%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:2.71%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:21.75%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 123,230</td></tr><tr><td style="vertical-align:top;width:72.8%;margin:0pt;padding:0pt;">Total</td><td style="vertical-align:middle;width:2.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:2.71%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:21.75%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 386,708</td></tr></table>2022 Acquisitions. During the three months ended March 31, 2022, the Company acquired Price Plaza Shopping Center, a multi-tenant income property located in Katy, Texas for a purchase price of $39.1 million, or a total acquisition cost of $39.2 million including capitalized acquisition costs. Price Plaza Shopping Center comprises 205,813 square feet, was 95% leased at acquisition, and had a weighted average remaining lease term of 5.7 years at acquisition. In connection with the acquisition of Price Plaza Shopping Center, the company assumed a $17.8 million fixed-rate mortgage note, as further discussed in Note 16, “Long-Term Debt.”Of the $39.2 million total acquisition cost, $15.6 million was allocated to land, $17.9 million was allocated to buildings and improvements, and $5.9 million was allocated to intangible assets pertaining to the in-place lease value, leasing costs, and above market lease value and $0.2 million was allocated to intangible liabilities for the below market lease value. The amortization period for the intangible assets and liabilities was 5.7 years at acquisition. 2022 Dispositions. During the three months ended March 31, 2022, the Company sold two income properties, including (i) Party City, a single-tenant income property located in Oceanside, New York for $6.9 million resulting in a $0.06 million loss and (ii) the Carpenter Hotel ground lease, a single-tenant income property located in Austin, Texas for $17.1 million resulting in a $0.2 million loss. The lease with Carpenter Hotel included two tenant repurchase options. Pursuant to FASB ASC Topic 842, Leases, the $16.25 million investment was recorded in the accompanying consolidated balance sheets as a commercial loan and master lease investment prior to its disposition during the three months ended March 31, 2022. The sale of the properties reflect a total disposition volume of $24.0 million, resulting in aggregate losses of $0.2 million. 2021 Acquisitions. During the three months ended March 31, 2021, the Company acquired two income properties including (i) Jordan Landing, a multi-tenant income property located in West Jordan, Utah for a purchase price of $20.0 million, or a total acquisition cost of $20.1 million including capitalized acquisition costs, which income property comprises 170,996 square feet, was 100% leased at acquisition, and had a weighted average remaining lease term of 7.9 years at acquisition and (ii) Eastern Commons, a multi-tenant income property located in Henderson, Nevada for a purchase price of $18.5 million, or a total acquisition cost of $18.6 million including capitalized acquisition costs, which income property comprises 133,304 square feet, was 96% leased at acquisition, and had a weighted average remaining lease term of 6.9 years at acquisition. The two multi-tenant income properties acquired during the three months ended March 31, 2021, represent an aggregate purchase price of $38.5 million, or a total acquisition cost of $38.6 million including capitalized acquisition costs. Of the total $38.6 million acquisition cost, $18.4 million was allocated to land, $14.3 million was allocated to buildings and improvements, and $5.9 million was allocated to intangible assets pertaining to the in-place lease value, leasing costs, and above market lease value. The weighted average amortization period for the intangible assets and liabilities was 7.6 years at acquisition.2021 Dispositions. During the three months ended March 31, 2021, the Company sold two income properties, including (i) World of Beer/Fuzzy’s Taco Shop, a multi-tenant income property located in Brandon, Florida for $2.3 million resulting in a $0.6 million gain and (ii) Moe’s Southwest Grill, a single-tenant income property located in Jacksonville, Florida for $2.5 million resulting in a $0.1 million gain. The sale of the properties reflect a total disposition volume of $4.9 million, resulting in aggregate gains of $0.7 million.

The components of leasing revenue are as follows (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:48.18%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.89%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:21.56%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.89%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.89%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:21.56%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:48.18%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:51.81%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Three Months Ended</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:48.18%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:24.45%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, 2022</td><td style="vertical-align:bottom;width:2.89%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:24.45%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, 2021</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:48.18%;background:#cceeff;margin:0pt;padding:0pt;">Leasing Revenue</td><td style="vertical-align:bottom;white-space:nowrap;width:2.89%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:21.56%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.89%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.89%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:21.56%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:48.18%;margin:0pt;padding:0pt;">Lease Payments</td><td style="vertical-align:bottom;width:2.89%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:21.56%;margin:0pt;padding:0pt;"> 12,285</td><td style="vertical-align:bottom;white-space:nowrap;width:2.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.89%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:21.56%;margin:0pt;padding:0pt;"> 9,698</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:48.18%;background:#cceeff;margin:0pt;padding:0pt;">Variable Lease Payments</td><td style="vertical-align:bottom;width:2.89%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:21.56%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 2,883</td><td style="vertical-align:bottom;white-space:nowrap;width:2.89%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.89%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:21.56%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1,751</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:48.18%;margin:0pt;padding:0pt;">Total Leasing Revenue</td><td style="vertical-align:bottom;width:2.89%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:21.56%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 15,168</td><td style="vertical-align:bottom;white-space:nowrap;width:2.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.89%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:21.56%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 11,449</td></tr></table>

12285000

9698000

2883000

1751000

15168000

11449000

Minimum future base rental revenue on non-cancelable leases subsequent to March 31, 2022, for the next five years ended December 31 are summarized as follows (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:72.8%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:middle;width:2.71%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:2.71%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:21.75%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:72.8%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Year Ending December 31,</td><td style="vertical-align:bottom;white-space:nowrap;width:2.71%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:24.47%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Amounts </td></tr><tr><td style="vertical-align:top;width:72.8%;background:#cceeff;margin:0pt;padding:0pt;">Remainder of 2022</td><td style="vertical-align:middle;width:2.71%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:2.71%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:21.75%;background:#cceeff;margin:0pt;padding:0pt;"> 40,077</td></tr><tr><td style="vertical-align:top;width:72.8%;margin:0pt;padding:0pt;">2023</td><td style="vertical-align:middle;width:2.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:2.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:21.75%;margin:0pt;padding:0pt;"> 51,224</td></tr><tr><td style="vertical-align:top;width:72.8%;background:#cceeff;margin:0pt;padding:0pt;">2024</td><td style="vertical-align:middle;width:2.71%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:2.71%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:21.75%;background:#cceeff;margin:0pt;padding:0pt;"> 49,231</td></tr><tr><td style="vertical-align:top;width:72.8%;margin:0pt;padding:0pt;">2025</td><td style="vertical-align:middle;width:2.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:2.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:21.75%;margin:0pt;padding:0pt;"> 47,631</td></tr><tr><td style="vertical-align:top;width:72.8%;background:#cceeff;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:middle;width:2.71%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:2.71%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:21.75%;background:#cceeff;margin:0pt;padding:0pt;"> 41,211</td></tr><tr><td style="vertical-align:top;width:72.8%;margin:0pt;padding:0pt;">2027</td><td style="vertical-align:middle;width:2.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:2.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:21.75%;margin:0pt;padding:0pt;"> 34,104</td></tr><tr><td style="vertical-align:top;width:72.8%;background:#cceeff;margin:0pt;padding:0pt;">2028 and Thereafter (Cumulative)</td><td style="vertical-align:middle;width:2.71%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:2.71%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:21.75%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 123,230</td></tr><tr><td style="vertical-align:top;width:72.8%;margin:0pt;padding:0pt;">Total</td><td style="vertical-align:middle;width:2.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:2.71%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:21.75%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 386,708</td></tr></table>

40077000

51224000

49231000

47631000

41211000

34104000

123230000

386708000

39100000

39200000

205813

0.95 P5Y8M12D

17800000

39200000 15600000 17900000

5900000

200000

P5Y8M12D

6900000

-60000.00

17100000

-200000

16250000

24000000.0

-200000

20000000.0

20100000

170996

1 P7Y10M24D

18500000

18600000

133304

0.96 P6Y10M24D

38500000

38600000 38600000 18400000 14300000

5900000

P7Y7M6D

2300000

600000

2500000

100000

4900000

700000

NOTE 4. COMMERCIAL LOAN AND MASTER LEASE INVESTMENTSOur investments in commercial loans or similar structured finance investments, such as mezzanine loans or other subordinated debt, have been and are expected to continue to be secured by real estate or the borrower’s pledge of its ownership interest in the entity that owns the real estate. The loans we invest in or originate are for commercial real estate located in the United States and its territories, and are current or performing with either a fixed or floating rate. Some of these loans may be syndicated in either a pari-passu or senior/subordinated structure. Commercial first mortgage loans generally provide for a higher recovery rate due to their senior position in the underlying collateral. Commercial mezzanine loans are typically secured by a pledge of the borrower’s equity ownership in the underlying commercial real estate. Unlike a mortgage, a mezzanine loan is not secured by a lien on the property. An investor’s rights in a mezzanine loan are usually governed by an intercreditor agreement that provides holders with the rights to cure defaults and exercise control on certain decisions of any senior debt secured by the same commercial property.2022 Activity. On January 26, 2022, the Company originated a construction loan secured by the property and improvements to be constructed thereon for the second phase of The Exchange at Gwinnett project located in Buford, Georgia for $8.7 million. The construction loan matures on January 26, 2024, has a one-year extension option, bears a fixed interest rate of 7.25%, and requires payments of interest only prior to maturity. At closing, a loan origination fee of $0.1 million was received by the Company. Funding of the loan will occur as the borrower completes the underlying construction. As of March 31, 2022, the Company has not disbursed any funds to the borrower. On March 11, 2022, the Company sold the Carpenter Hotel ground lease located in Austin, Texas for $17.1 million. The lease with Carpenter Hotel included two tenant repurchase options. Pursuant to FASB ASC Topic 842, Leases, the initial $16.25 million investment was recorded in the consolidated balance sheets as a commercial loan and master lease investment at the time of acquisition. The carrying value at the time of sale totaled $17.3 million. The Company’s commercial loan and master lease investments were comprised of the following at March 31, 2022 (in thousands): <table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:41.66%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.76%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.33%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.82%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:6.49%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.82%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:6.49%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.17%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:6.14%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:6.39%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:41.66%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Description</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;width:10.76%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Date of Investment</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;width:9.33%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Maturity Date</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:7.31%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Original Face Amount</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:7.31%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Current Face Amount</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:7.31%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Carrying Value</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;width:6.39%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Coupon Rate</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:41.66%;background:#cceeff;margin:0pt;padding:0pt;">Westland Gateway Plaza – Hialeah, FL</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.76%;background:#cceeff;margin:0pt;padding:0pt;">September 2020</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.33%;background:#cceeff;margin:0pt;padding:0pt;"> N/A</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.82%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.49%;background:#cceeff;margin:0pt;padding:0pt;"> 21,085</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.82%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.49%;background:#cceeff;margin:0pt;padding:0pt;"> 21,085</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.17%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.14%;background:#cceeff;margin:0pt;padding:0pt;"> 21,151</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:6.39%;background:#cceeff;margin:0pt;padding:0pt;"> N/A</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:41.66%;margin:0pt;padding:0pt;">Mortgage Note – 4311 Maple Avenue – Dallas, TX</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.76%;margin:0pt;padding:0pt;">October 2020</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.33%;margin:0pt;padding:0pt;">April 2023</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.82%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.49%;margin:0pt;padding:0pt;"> 400</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.82%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.49%;margin:0pt;padding:0pt;"> 400</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.17%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.14%;margin:0pt;padding:0pt;"> 394</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:6.39%;margin:0pt;padding:0pt;">7.50%</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:41.66%;background:#cceeff;margin:0pt;padding:0pt;">Mortgage Note – 110 N Beach Street – Daytona Beach, FL</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.76%;background:#cceeff;margin:0pt;padding:0pt;">June 2021</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:9.33%;background:#cceeff;margin:0pt;padding:0pt;">December 2022</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.82%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.49%;background:#cceeff;margin:0pt;padding:0pt;"> 364</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.82%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.49%;background:#cceeff;margin:0pt;padding:0pt;"> 364</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.17%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.14%;background:#cceeff;margin:0pt;padding:0pt;"> 364</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:6.39%;background:#cceeff;margin:0pt;padding:0pt;">10.00%</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:41.66%;margin:0pt;padding:0pt;">Construction Loan – The Exchange At Gwinnett – Buford, GA</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.76%;margin:0pt;padding:0pt;">January 2022</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.33%;margin:0pt;padding:0pt;">January 2024</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.82%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.49%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 8,700</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.82%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.49%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.17%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.14%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (79)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:6.39%;margin:0pt;padding:0pt;">7.25%</td></tr><tr><td style="vertical-align:top;width:41.66%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.33%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.82%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:6.49%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 30,549</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.82%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:6.49%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 21,849</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.17%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:6.14%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 21,830</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:6.39%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr></table>The Company’s commercial loan and master lease investments were comprised of the following at December 31, 2021 (in thousands): <table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:41.49%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.43%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.77%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.41%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.88%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;width:41.49%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Description</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;width:11.43%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Date of Investment</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;width:7.77%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Maturity Date</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:7.59%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Original Face Amount</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:7.59%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Current Face Amount</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:7.65%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Carrying Value</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;width:5.88%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Coupon Rate</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:41.49%;background:#cceeff;margin:0pt;padding:0pt;">Carpenter Hotel – 400 Josephine Street, Austin, TX</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.43%;background:#cceeff;margin:0pt;padding:0pt;">July 2019</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.77%;background:#cceeff;margin:0pt;padding:0pt;"> N/A</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:6.71%;background:#cceeff;margin:0pt;padding:0pt;"> 16,250</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:6.71%;background:#cceeff;margin:0pt;padding:0pt;"> 16,250</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.23%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:6.41%;background:#cceeff;margin:0pt;padding:0pt;"> 17,189</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.88%;background:#cceeff;margin:0pt;padding:0pt;"> N/A</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:41.49%;margin:0pt;padding:0pt;">Westland Gateway Plaza – Hialeah, FL</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.43%;margin:0pt;padding:0pt;">September 2020</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.77%;margin:0pt;padding:0pt;"> N/A</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.71%;margin:0pt;padding:0pt;"> 21,085</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.71%;margin:0pt;padding:0pt;"> 21,085</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.41%;margin:0pt;padding:0pt;"> 21,148</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.88%;margin:0pt;padding:0pt;"> N/A</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:41.49%;background:#cceeff;margin:0pt;padding:0pt;">Mortgage Note – 4311 Maple Avenue – Dallas, TX</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.43%;background:#cceeff;margin:0pt;padding:0pt;">October 2020</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.77%;background:#cceeff;margin:0pt;padding:0pt;">April 2023</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.71%;background:#cceeff;margin:0pt;padding:0pt;"> 400</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.71%;background:#cceeff;margin:0pt;padding:0pt;"> 400</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.23%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.41%;background:#cceeff;margin:0pt;padding:0pt;"> 394</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.88%;background:#cceeff;margin:0pt;padding:0pt;">7.50%</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:41.49%;margin:0pt;padding:0pt;">Mortgage Note – 110 N Beach Street – Daytona Beach, FL</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.43%;margin:0pt;padding:0pt;">June 2021</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:7.77%;margin:0pt;padding:0pt;">December 2022</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.71%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 364</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.71%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 364</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.23%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.41%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 364</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.88%;margin:0pt;padding:0pt;">10.00%</td></tr><tr><td style="vertical-align:top;width:41.49%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.43%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.77%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:6.71%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 38,099</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:6.71%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 38,099</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.23%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:6.41%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 39,095</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.88%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr></table>The carrying value of the commercial loan and master lease investments portfolio at March 31, 2022 and December 31, 2021 consisted of the following (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:59.41%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.76%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:16.44%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.76%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:16.49%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:59.41%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:38.52%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As of</td></tr><tr><td style="vertical-align:bottom;width:59.41%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:18.2%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, 2022</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:18.25%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">December 31, 2021</td></tr><tr><td style="vertical-align:top;width:59.41%;background:#cceeff;margin:0pt;padding:0pt;">Current Face Amount</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.76%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.44%;background:#cceeff;margin:0pt;padding:0pt;"> 21,849</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.76%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.49%;background:#cceeff;margin:0pt;padding:0pt;"> 38,099</td></tr><tr><td style="vertical-align:top;width:59.41%;margin:0pt;padding:0pt;">Imputed Interest over Rent Payments Received</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.44%;margin:0pt;padding:0pt;"> 66</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.49%;margin:0pt;padding:0pt;"> 1,002</td></tr><tr><td style="vertical-align:top;width:59.41%;background:#cceeff;margin:0pt;padding:0pt;">Unaccreted Origination Fees</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.44%;background:#cceeff;margin:0pt;padding:0pt;"> (81)</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.49%;background:#cceeff;margin:0pt;padding:0pt;"> (2)</td></tr><tr><td style="vertical-align:bottom;width:59.41%;margin:0pt;padding:0pt;">CECL Reserve</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.76%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.44%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (4)</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.76%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.49%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (4)</td></tr><tr><td style="vertical-align:bottom;width:59.41%;background:#cceeff;margin:0pt;padding:0pt;">Total Commercial Loan and Master Lease Investments</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.76%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.44%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 21,830</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.76%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.49%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 39,095</td></tr></table>

8700000 P1Y

0.0725

100000

17100000

16250000

17300000

The Company’s commercial loan and master lease investments were comprised of the following at March 31, 2022 (in thousands): <table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:41.66%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.76%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.33%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.82%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:6.49%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.82%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:6.49%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.17%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:6.14%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:6.39%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:41.66%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Description</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;width:10.76%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Date of Investment</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;width:9.33%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Maturity Date</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:7.31%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Original Face Amount</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:7.31%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Current Face Amount</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:7.31%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Carrying Value</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;width:6.39%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Coupon Rate</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:41.66%;background:#cceeff;margin:0pt;padding:0pt;">Westland Gateway Plaza – Hialeah, FL</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.76%;background:#cceeff;margin:0pt;padding:0pt;">September 2020</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.33%;background:#cceeff;margin:0pt;padding:0pt;"> N/A</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.82%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.49%;background:#cceeff;margin:0pt;padding:0pt;"> 21,085</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.82%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.49%;background:#cceeff;margin:0pt;padding:0pt;"> 21,085</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.17%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.14%;background:#cceeff;margin:0pt;padding:0pt;"> 21,151</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:6.39%;background:#cceeff;margin:0pt;padding:0pt;"> N/A</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:41.66%;margin:0pt;padding:0pt;">Mortgage Note – 4311 Maple Avenue – Dallas, TX</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.76%;margin:0pt;padding:0pt;">October 2020</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.33%;margin:0pt;padding:0pt;">April 2023</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.82%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.49%;margin:0pt;padding:0pt;"> 400</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.82%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.49%;margin:0pt;padding:0pt;"> 400</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.17%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.14%;margin:0pt;padding:0pt;"> 394</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:6.39%;margin:0pt;padding:0pt;">7.50%</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:41.66%;background:#cceeff;margin:0pt;padding:0pt;">Mortgage Note – 110 N Beach Street – Daytona Beach, FL</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.76%;background:#cceeff;margin:0pt;padding:0pt;">June 2021</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:9.33%;background:#cceeff;margin:0pt;padding:0pt;">December 2022</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.82%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.49%;background:#cceeff;margin:0pt;padding:0pt;"> 364</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.82%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.49%;background:#cceeff;margin:0pt;padding:0pt;"> 364</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.17%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.14%;background:#cceeff;margin:0pt;padding:0pt;"> 364</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:6.39%;background:#cceeff;margin:0pt;padding:0pt;">10.00%</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:41.66%;margin:0pt;padding:0pt;">Construction Loan – The Exchange At Gwinnett – Buford, GA</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.76%;margin:0pt;padding:0pt;">January 2022</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.33%;margin:0pt;padding:0pt;">January 2024</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.82%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.49%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 8,700</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.82%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.49%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.17%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.14%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (79)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:6.39%;margin:0pt;padding:0pt;">7.25%</td></tr><tr><td style="vertical-align:top;width:41.66%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.33%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.82%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:6.49%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 30,549</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.82%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:6.49%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 21,849</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.17%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:6.14%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 21,830</td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:6.39%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr></table>The Company’s commercial loan and master lease investments were comprised of the following at December 31, 2021 (in thousands): <table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:41.49%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.43%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.77%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.71%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.41%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.88%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;width:41.49%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Description</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;width:11.43%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Date of Investment</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;width:7.77%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Maturity Date</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:7.59%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Original Face Amount</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:7.59%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Current Face Amount</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:7.65%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Carrying Value</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;width:5.88%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Coupon Rate</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:41.49%;background:#cceeff;margin:0pt;padding:0pt;">Carpenter Hotel – 400 Josephine Street, Austin, TX</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.43%;background:#cceeff;margin:0pt;padding:0pt;">July 2019</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.77%;background:#cceeff;margin:0pt;padding:0pt;"> N/A</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:6.71%;background:#cceeff;margin:0pt;padding:0pt;"> 16,250</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:6.71%;background:#cceeff;margin:0pt;padding:0pt;"> 16,250</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.23%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:6.41%;background:#cceeff;margin:0pt;padding:0pt;"> 17,189</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.88%;background:#cceeff;margin:0pt;padding:0pt;"> N/A</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:41.49%;margin:0pt;padding:0pt;">Westland Gateway Plaza – Hialeah, FL</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.43%;margin:0pt;padding:0pt;">September 2020</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.77%;margin:0pt;padding:0pt;"> N/A</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.71%;margin:0pt;padding:0pt;"> 21,085</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.71%;margin:0pt;padding:0pt;"> 21,085</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.41%;margin:0pt;padding:0pt;"> 21,148</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.88%;margin:0pt;padding:0pt;"> N/A</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:41.49%;background:#cceeff;margin:0pt;padding:0pt;">Mortgage Note – 4311 Maple Avenue – Dallas, TX</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.43%;background:#cceeff;margin:0pt;padding:0pt;">October 2020</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.77%;background:#cceeff;margin:0pt;padding:0pt;">April 2023</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.71%;background:#cceeff;margin:0pt;padding:0pt;"> 400</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.71%;background:#cceeff;margin:0pt;padding:0pt;"> 400</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.23%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.41%;background:#cceeff;margin:0pt;padding:0pt;"> 394</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.88%;background:#cceeff;margin:0pt;padding:0pt;">7.50%</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:41.49%;margin:0pt;padding:0pt;">Mortgage Note – 110 N Beach Street – Daytona Beach, FL</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.43%;margin:0pt;padding:0pt;">June 2021</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:7.77%;margin:0pt;padding:0pt;">December 2022</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.71%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 364</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.71%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 364</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.23%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:6.41%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 364</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.88%;margin:0pt;padding:0pt;">10.00%</td></tr><tr><td style="vertical-align:top;width:41.49%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.43%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.77%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:6.71%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 38,099</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.87%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:6.71%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 38,099</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.23%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:6.41%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 39,095</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.88%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr></table>The carrying value of the commercial loan and master lease investments portfolio at March 31, 2022 and December 31, 2021 consisted of the following (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:59.41%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.76%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:16.44%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.76%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:16.49%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:59.41%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:38.52%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As of</td></tr><tr><td style="vertical-align:bottom;width:59.41%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:18.2%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, 2022</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:18.25%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">December 31, 2021</td></tr><tr><td style="vertical-align:top;width:59.41%;background:#cceeff;margin:0pt;padding:0pt;">Current Face Amount</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.76%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.44%;background:#cceeff;margin:0pt;padding:0pt;"> 21,849</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.76%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.49%;background:#cceeff;margin:0pt;padding:0pt;"> 38,099</td></tr><tr><td style="vertical-align:top;width:59.41%;margin:0pt;padding:0pt;">Imputed Interest over Rent Payments Received</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.44%;margin:0pt;padding:0pt;"> 66</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.49%;margin:0pt;padding:0pt;"> 1,002</td></tr><tr><td style="vertical-align:top;width:59.41%;background:#cceeff;margin:0pt;padding:0pt;">Unaccreted Origination Fees</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.44%;background:#cceeff;margin:0pt;padding:0pt;"> (81)</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.49%;background:#cceeff;margin:0pt;padding:0pt;"> (2)</td></tr><tr><td style="vertical-align:bottom;width:59.41%;margin:0pt;padding:0pt;">CECL Reserve</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.76%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.44%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (4)</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.76%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.49%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (4)</td></tr><tr><td style="vertical-align:bottom;width:59.41%;background:#cceeff;margin:0pt;padding:0pt;">Total Commercial Loan and Master Lease Investments</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.76%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.44%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 21,830</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.76%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.49%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 39,095</td></tr></table>

21085000

21151000

400000

394000

0.0750 364000

364000

0.1000 8700000 -79000 0.0725 30549000

21849000

21830000

16250000

17189000

21085000

21148000

400000

394000

0.0750 364000

364000

0.1000 38099000

38099000

39095000

21849000

38099000

66000 1002000

-81000

-2000

4000

21830000

39095000

0.015

0.08 0.00 0.15

900000

600000

500000

The following table represents amounts due (to) from PINE as of March 31, 2022 and December 31, 2021 which are included in other assets on the consolidated balance sheets (in thousands): <table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:56.48%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:middle;width:2.78%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:2.78%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:16.19%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.78%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:middle;width:2.78%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:16.19%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:middle;width:56.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:2.78%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:40.73%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As of</td></tr><tr><td style="vertical-align:bottom;width:56.48%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Description</td><td style="vertical-align:bottom;white-space:nowrap;width:2.78%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:18.97%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, 2022</td><td style="vertical-align:bottom;width:2.78%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:18.97%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">December 31, 2021</td></tr><tr><td style="vertical-align:top;width:56.48%;background:#cceeff;margin:0pt;padding:0pt;">Management Services Fee due From PINE</td><td style="vertical-align:middle;width:2.78%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:2.78%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.19%;background:#cceeff;margin:0pt;padding:0pt;"> 936</td><td style="vertical-align:bottom;white-space:nowrap;width:2.78%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:2.78%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.19%;background:#cceeff;margin:0pt;padding:0pt;"> 913</td></tr><tr><td style="vertical-align:top;width:56.48%;margin:0pt;padding:0pt;">Dividend Receivable</td><td style="vertical-align:middle;width:2.78%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:2.78%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.19%;margin:0pt;padding:0pt;"> 330</td><td style="vertical-align:bottom;white-space:nowrap;width:2.78%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:2.78%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.19%;margin:0pt;padding:0pt;"> 330</td></tr><tr><td style="vertical-align:top;width:56.48%;background:#cceeff;margin:0pt;padding:0pt;">Other</td><td style="vertical-align:middle;width:2.78%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:2.78%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.19%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (39)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.78%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:2.78%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.19%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 410</td></tr><tr><td style="vertical-align:top;width:56.48%;margin:0pt;padding:0pt;">Total</td><td style="vertical-align:middle;width:2.78%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:2.78%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.19%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 1,227</td><td style="vertical-align:bottom;white-space:nowrap;width:2.78%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:2.78%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.19%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 1,653</td></tr></table>

936000 913000 330000 330000 -39000 410000

1227000

1653000

125900000

1223854

23300000

394737

7500000

421053

8000000.0

5000000.0

17.75

4765

100000

18.47

8088

100000

17.65

1223854

828643

38600000

0.152

6900000

44500000

11500000

30000000.0

-500000

20000 10000

30000.00

NOTE 6. REAL ESTATE OPERATIONSReal Estate Operations Land and development costs at March 31, 2022 and December 31, 2021 were as follows (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:53.15%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.15%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:19.1%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:middle;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:19.1%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:53.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.15%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:44.69%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As of </td></tr><tr><td style="vertical-align:bottom;width:53.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.15%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:21.26%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, 2022</td><td style="vertical-align:bottom;width:2.16%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:21.26%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">December 31, 2021</td></tr><tr><td style="vertical-align:top;width:53.15%;background:#cceeff;margin:0pt;padding:0pt;">Land and Development Costs</td><td style="vertical-align:bottom;width:2.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:19.1%;background:#cceeff;margin:0pt;padding:0pt;"> 358</td><td style="vertical-align:middle;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:19.1%;background:#cceeff;margin:0pt;padding:0pt;"> 358</td></tr><tr><td style="vertical-align:top;width:53.15%;margin:0pt;padding:0pt;">Subsurface Interests</td><td style="vertical-align:bottom;width:2.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.16%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:19.1%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 336</td><td style="vertical-align:middle;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:2.16%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:19.1%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 334</td></tr><tr><td style="vertical-align:top;width:53.15%;background:#cceeff;margin:0pt;padding:0pt;">Total Land and Development Costs </td><td style="vertical-align:bottom;width:2.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.16%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:19.1%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 694</td><td style="vertical-align:middle;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:2.16%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:19.1%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 692</td></tr></table>Mitigation Credits. The Company owns mitigation credits and mitigation credit rights with an aggregate cost basis of $24.7 million as of March 31, 2022 and December 31, 2021. During the three months ended September 30, 2021, the Company completed the Interest Purchase, hereinafter defined in Note 7, “Investment in Joint Ventures”. As a result of the Interest Purchase, as of September 30, 2021, the Company owns 100% of the Mitigation Bank, and therefore its underlying assets, which includes an inventory of mitigation credits. Certain of the mitigation credits are currently available for sale with the remainder to become available as they are released to the Mitigation Bank by the applicable state and federal authorities pursuant to the completion of phases of the approved mitigation plans (“Mitigation Credit Rights”). At the time of the Interest Purchase on September 30, 2021, the Company’s cost basis in the newly acquired mitigation credits and Mitigation Credit Rights totaled $0.9 million and $21.6 million, respectively, which is comprised of (i) $15.6 million of the $18.0 million Interest Purchase allocated to the mitigation credit assets and (ii) the $6.9 million previously recorded value of the retained interest in the entity that owns the Mitigation Bank.Revenues and the cost of sales of mitigation credit sales are reported as revenues from, and direct costs of, real estate operations, respectively, in the consolidated statements of operations. There were no mitigation credit sales during the three months ended March 31, 2022 or March 31, 2021. Subsurface Interests. As of March 31, 2022, the Company owns 365,000 acres of Subsurface Interests. The Company leases certain of the Subsurface Interests to mineral exploration firms for exploration. The Company’s subsurface operations consist of revenue from the leasing of exploration rights and in some instances, additional revenues from royalties applicable to production from the leased acreage, which revenues are included within real estate operations in the consolidated statements of operations. During the three months ended March 31, 2022, the Company sold approximately 4,750 acres of subsurface oil, gas, and mineral rights for a sales price of $0.4 million. During the three months ended March 31, 2021, the Company sold approximately 25,000 acres of subsurface oil, gas, and mineral rights for a sales price of $1.9 million. Revenues received from oil royalties totaled $0.01 million during each of the three months ended March 31, 2022 and 2021.The Company is not prohibited from selling any or all of its Subsurface Interests. The Company may release surface entry rights or other rights upon request of a surface owner for a negotiated release fee typically based on a percentage of the surface value. Should the Company complete a transaction to sell all or a portion of its Subsurface Interests or complete a release transaction, the Company may utilize the like-kind exchange structure in acquiring one or more replacement investments including income-producing properties. Cash payments for the release of surface entry rights totaled $0.02 million and $0.01 million during the three months ended March 31, 2022 and 2021, respectively.

Land and development costs at March 31, 2022 and December 31, 2021 were as follows (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:53.15%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.15%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:19.1%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:middle;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:19.1%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:53.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.15%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:44.69%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As of </td></tr><tr><td style="vertical-align:bottom;width:53.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.15%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:21.26%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, 2022</td><td style="vertical-align:bottom;width:2.16%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:21.26%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">December 31, 2021</td></tr><tr><td style="vertical-align:top;width:53.15%;background:#cceeff;margin:0pt;padding:0pt;">Land and Development Costs</td><td style="vertical-align:bottom;width:2.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:19.1%;background:#cceeff;margin:0pt;padding:0pt;"> 358</td><td style="vertical-align:middle;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:19.1%;background:#cceeff;margin:0pt;padding:0pt;"> 358</td></tr><tr><td style="vertical-align:top;width:53.15%;margin:0pt;padding:0pt;">Subsurface Interests</td><td style="vertical-align:bottom;width:2.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.16%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:19.1%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 336</td><td style="vertical-align:middle;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:2.16%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:19.1%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 334</td></tr><tr><td style="vertical-align:top;width:53.15%;background:#cceeff;margin:0pt;padding:0pt;">Total Land and Development Costs </td><td style="vertical-align:bottom;width:2.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.16%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:19.1%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 694</td><td style="vertical-align:middle;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:2.16%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:19.1%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 692</td></tr></table> 358000 358000 336000 334000

694000

692000

24700000 24700000

900000 21600000 15600000

18000000.0

6900000

365000

4750

400000

25000

1900000

10000.00

20000.00 10000.00

NOTE 7. INVESTMENT IN JOINT VENTURESThe Company had no investments in joint ventures as of March 31, 2022 or December 31, 2021. Land JV. The Company’s previously held retained interest in the Land JV represented a notional 33.5% stake in the venture, the value of which was realized in the form of distributions based on the timing and the amount of proceeds achieved when the land was ultimately sold by the Land JV. On December 10, 2021, the Land JV completed the sale of all of its remaining land holdings.The Company served as the manager of the Land JV and was responsible for day-to-day operations at the direction of the partners of the Land JV prior to the Land JV Sale. All major decisions and certain other actions that could be taken by the Company, as manager, were approved by the unanimous consent of the JV Partners. Pursuant to the Land JV’s operating agreement, the Land JV paid the Company, as manager, a management fee in the initial amount of $20,000 per month. The management fee was evaluated quarterly, and as land sales occurred in the Land JV, the basis for the Company’s management fee was reduced as the management fee was based on the value of real property that remained in the Land JV. The final monthly management fee was received in December 2021 and totaled $10,000.Prior to the Land JV Sale, the investment in joint ventures on the Company’s consolidated balance sheets included the Company’s previously held ownership interest in the Land JV. We concluded the Land JV to be a variable interest entity and therefore, it was accounted for under the equity method of accounting as the Company was not the primary beneficiary as defined in FASB ASC Topic 810, Consolidation. The significant factors related to this determination included, but were not limited to, the Land JV being jointly controlled by the members through the use of unanimous approval for all material actions. Under the guidance of FASB ASC 323, Investments-Equity Method and Joint Ventures, the Company used the equity method to account for the Land JV investment. During the year ended December 31, 2021, the Company recognized impairment charges on its previously held retained interest in the Land JV totaling $17.6 million. The aggregate $17.6 million impairment on the previously held retained interest in the Land JV is comprised of a $16.5 million charge during the three months ended June 30, 2021 and a $1.1 million charge during the three months ended December 31, 2021, which is a result of eliminating the investment in joint ventures based on the final proceeds received through distributions of the Land JV in connection with the Land JV Sale.The following table provides summarized financial information of the Land JV for the three months ended March 31, 2021 (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:65.63%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:29.04%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:65.63%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:31.69%;margin:0pt;padding:0pt;">Three Months Ended</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:65.63%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:31.69%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, 2021</td></tr><tr><td style="vertical-align:top;width:65.63%;background:#cceeff;margin:0pt;padding:0pt;">Revenues</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:29.04%;background:#cceeff;margin:0pt;padding:0pt;"> 21</td></tr><tr><td style="vertical-align:top;width:65.63%;margin:0pt;padding:0pt;">Direct Cost of Revenues</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:29.04%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (81)</td></tr><tr><td style="vertical-align:top;width:65.63%;background:#cceeff;margin:0pt;padding:0pt;">Operating Loss</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:29.04%;background:#cceeff;margin:0pt;padding:0pt;"> (60)</td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:65.63%;margin:0pt;padding:0pt;">Other Operating Expenses</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:29.04%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (71)</td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:65.63%;background:#cceeff;margin:0pt;padding:0pt;">Net Loss</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:29.04%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> (131)</td></tr></table>The Company’s share of the Land JV’s net loss was zero for the three months ended March 31, 2021. Pursuant to ASC 323, certain adjustments are made when calculating the Company’s share of net income (loss) of the Land JV, including adjustments required to reflect the investor’s share of changes in investee’s capital to reflect distributions from the Land JV. Additionally, basis differences are also considered. The Company recorded the initial retained interest in the Land JV of $48.9 million at the estimated fair market value based on the relationship of the $97.0 million sales price of the 66.5% equity interest to the 33.5% retained interest. The Land JV recorded the assets contributed by the Company at carry-over basis pursuant to ASC 845 which states that transfers of nonmonetary assets should typically be recorded at the transferor’s historical cost basis. Accordingly, the Company’s basis difference in the 33.5% retained equity interest was evaluated each quarter upon determining the Company’s share of the Land JV’s net income (loss). As a result of the Land JV Sale, the liquidation of the Land JV’s assets, and the dissolution of the underlying entities, such evaluation was no longer required subsequent to December 31, 2021. Mitigation Bank. The mitigation bank transaction completed in June 2018 consisted of the sale of a 70% interest in the entity that owns the Mitigation Bank (the “Mitigation Bank JV”). The purchaser of the 70% interest in the Mitigation Bank JV was comprised of certain funds and accounts managed by an investment advisor subsidiary of BlackRock, Inc. (“BlackRock”). The Company retained a 30% non-controlling interest in the Mitigation Bank JV. A third-party was retained by the Mitigation Bank JV as the day-to-day manager of the Mitigation Bank JV property, responsible for the maintenance, generation, tracking, and other aspects of wetland mitigation credits. Prior to September 30, 2021, the investment in joint ventures included on the Company’s consolidated balance sheets included $6.9 million related to the fair market value of the 30% retained interest in the Mitigation Bank JV. On September 30, 2021, the Company, through a wholly owned and fully consolidated TRS, purchased the remaining 70% interest in the Mitigation Bank JV from BlackRock for $18.0 million (the “Interest Purchase”) resulting in a net cash payment by the Company of $16.1 million after utilizing the available cash in the Mitigation Bank JV of $1.9 million. As a result of the Interest Purchase, the Mitigation Bank JV is now wholly owned by the Company and is referred to as the Mitigation Bank. Pursuant to ASU 2017-01, Business Combinations: Clarifying the Definition of a Business, the Interest Purchase represents an asset acquisition as substantially all of the fair value of the gross assets acquired are concentrated in a group of similar identifiable assets, i.e. the mitigation credits and mitigation credit rights. Accordingly, the Company recorded the Interest Purchase by allocating the total cost of the asset group to the individual assets acquired. The Company’s total cost of the Interest Purchase totaled $24.9 million which is comprised of (i) the $18.0 million Interest Purchase and (ii) the $6.9 million previously recorded value of the retained interest in the entity that owns the Mitigation Bank. In connection with the Interest Purchase, the previously recorded value of $6.9 million of the retained interest was eliminated and the $24.9 million total cost was allocated as follows: (i) $1.8 million to cash and cash equivalents, (ii) $0.6 million to restricted cash, (iii) $0.9 million to the mitigation credits, and (iv) $21.6 million to the mitigation credit rights. During the period from June 2018 through the date of the Interest Purchase on September 30, 2021, the operations of the Mitigation Bank JV are summarized as follows. The operating agreement of the Mitigation Bank JV (the “Operating Agreement”) was executed in conjunction with the mitigation bank transaction and stipulated that the Company should have arranged for sales of the Mitigation Bank JV’s mitigation credits to unrelated third parties totaling no less than $6.0 million of revenue to the Mitigation Bank JV, net of commissions, by the end of 2020, utilizing a maximum of 60 mitigation credits (the “Minimum Sales Requirement”). The Operating Agreement stipulated that if the Minimum Sales Requirement was not achieved, then BlackRock had the right, but was not required, to cause the Company to purchase the number of mitigation credits necessary to reach the Minimum Sales Requirement (the “Minimum Sales Guarantee”). As a result of not having achieved the Minimum Sales Requirement prior to December 31, 2020, during the nine months ended September 30, 2021, the Company had active discussions with BlackRock whereby BlackRock did not cause the Company to effectuate the Minimum Sales Guarantee; rather, the Company purchased the remaining 70% interest in the Mitigation Bank JV from BlackRock.The following table provides summarized financial information of the Mitigation Bank JV for the three months ended March 31, 2021 (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:70.88%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.59%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.59%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:23.92%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:70.88%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.59%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:26.51%;margin:0pt;padding:0pt;">Three Months Ended</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:70.88%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.59%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:26.51%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, 2021</td></tr><tr><td style="vertical-align:top;width:70.88%;background:#cceeff;margin:0pt;padding:0pt;">Revenues</td><td style="vertical-align:bottom;white-space:nowrap;width:2.59%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.59%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:23.92%;background:#cceeff;margin:0pt;padding:0pt;"> 104</td></tr><tr><td style="vertical-align:top;width:70.88%;margin:0pt;padding:0pt;">Direct Cost of Revenues</td><td style="vertical-align:bottom;white-space:nowrap;width:2.59%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.59%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:23.92%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (7)</td></tr><tr><td style="vertical-align:top;width:70.88%;background:#cceeff;margin:0pt;padding:0pt;">Operating Income </td><td style="vertical-align:bottom;white-space:nowrap;width:2.59%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.59%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:23.92%;background:#cceeff;margin:0pt;padding:0pt;"> 97</td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:70.88%;margin:0pt;padding:0pt;">Other Operating Expenses</td><td style="vertical-align:bottom;white-space:nowrap;width:2.59%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.59%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:23.92%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (100)</td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:70.88%;background:#cceeff;margin:0pt;padding:0pt;">Net Loss</td><td style="vertical-align:bottom;white-space:nowrap;width:2.59%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.59%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:23.92%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> (3)</td></tr></table>The Company’s share of the Mitigation Bank JV’s net loss was zero for the three months ended March 31, 2021. Pursuant to ASC 323, certain adjustments are made when calculating the Company’s share of net income (loss), including adjustments required to reflect the investor’s share of changes in investee’s capital to reflect distributions from the Mitigation Bank JV. Additionally, basis differences are also considered. The Company recorded the initial retained interest in the Mitigation Bank JV of $6.8 million in June 2018 at the estimated fair market value based on the relationship of the $15.3 million sales price of the 70% equity interest to the 30% retained interest. The Mitigation Bank JV recorded the assets contributed by the Company at carry-over basis pursuant to ASC 845 which states that transfers of nonmonetary assets should typically be recorded at the transferor’s historical cost basis. Accordingly, the Company’s basis difference in the 30% retained equity interest was evaluated each quarter upon determining the Company’s share of the Mitigation Bank JV’s net income (loss). As a result of the Interest Purchase, such evaluation was no longer required subsequent to December 31, 2021.

0.335 20000000 10000000

17600000

16500000

1100000

The following table provides summarized financial information of the Land JV for the three months ended March 31, 2021 (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:65.63%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:29.04%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:65.63%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:31.69%;margin:0pt;padding:0pt;">Three Months Ended</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:65.63%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:31.69%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, 2021</td></tr><tr><td style="vertical-align:top;width:65.63%;background:#cceeff;margin:0pt;padding:0pt;">Revenues</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:29.04%;background:#cceeff;margin:0pt;padding:0pt;"> 21</td></tr><tr><td style="vertical-align:top;width:65.63%;margin:0pt;padding:0pt;">Direct Cost of Revenues</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:29.04%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (81)</td></tr><tr><td style="vertical-align:top;width:65.63%;background:#cceeff;margin:0pt;padding:0pt;">Operating Loss</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:29.04%;background:#cceeff;margin:0pt;padding:0pt;"> (60)</td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:65.63%;margin:0pt;padding:0pt;">Other Operating Expenses</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:29.04%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (71)</td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:65.63%;background:#cceeff;margin:0pt;padding:0pt;">Net Loss</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:29.04%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> (131)</td></tr></table>

21000

81000

-60000

71000

-131000

48900000

97000000.0

0.665 0.665 0.335 0.335 0.70 0.70

0.30

6900000

0.30

0.70

18000000.0

16100000

1900000

24900000

18000000.0

6900000 6900000 24900000

1800000

600000

900000 21600000 6000000.0 60 0.70

The following table provides summarized financial information of the Mitigation Bank JV for the three months ended March 31, 2021 (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:70.88%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.59%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.59%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:23.92%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:70.88%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.59%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:26.51%;margin:0pt;padding:0pt;">Three Months Ended</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:70.88%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.59%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:26.51%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, 2021</td></tr><tr><td style="vertical-align:top;width:70.88%;background:#cceeff;margin:0pt;padding:0pt;">Revenues</td><td style="vertical-align:bottom;white-space:nowrap;width:2.59%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.59%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:23.92%;background:#cceeff;margin:0pt;padding:0pt;"> 104</td></tr><tr><td style="vertical-align:top;width:70.88%;margin:0pt;padding:0pt;">Direct Cost of Revenues</td><td style="vertical-align:bottom;white-space:nowrap;width:2.59%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.59%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:23.92%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (7)</td></tr><tr><td style="vertical-align:top;width:70.88%;background:#cceeff;margin:0pt;padding:0pt;">Operating Income </td><td style="vertical-align:bottom;white-space:nowrap;width:2.59%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.59%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:23.92%;background:#cceeff;margin:0pt;padding:0pt;"> 97</td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:70.88%;margin:0pt;padding:0pt;">Other Operating Expenses</td><td style="vertical-align:bottom;white-space:nowrap;width:2.59%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.59%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:23.92%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (100)</td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:70.88%;background:#cceeff;margin:0pt;padding:0pt;">Net Loss</td><td style="vertical-align:bottom;white-space:nowrap;width:2.59%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.59%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:23.92%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> (3)</td></tr></table>

104000

7000

97000

100000

-3000

6800000

15300000

0.70

0.30

NOTE 8. INVESTMENT SECURITIESThe Company acquired 815,790 shares of PINE common stock in connection with the IPO. During the three months ended March 31, 2022, the Company purchased 4,765 shares of PINE common stock on the open market for a total of $0.1 million, or an average price of $18.47 per share. During the year ended December 31, 2021, the Company purchased 8,088 shares of PINE common stock on the open market for a total of $0.1 million, or an average price of $17.65 per share. As of March 31, 2022, the Company owns, in the aggregate and on a fully diluted basis, 2.05 million shares of PINE, or 15.2% of PINE’s total shares outstanding for an investment value of $38.6 million, which total includes 1.2 million OP Units, or 9.1%, which the Company received in exchange for the contribution of certain income properties to the PINE Operating Partnership, in addition to 828,643 shares of common stock owned by the Company, or 7.0%. The Company has elected the fair value option related to the aggregate investment in securities of PINE pursuant to ASC 825, otherwise such investments would have been accounted for under the equity method.The Company calculates the unrealized gain or loss based on the closing stock price of PINE at each respective balance sheet date. The unrealized, non-cash gains and losses resulting from the changes in the closing stock price of PINE are included in investment and other income (loss) in the consolidated statements of operations for the three months ended March 31, 2022 and 2021.The Company’s available-for-sale securities as of March 31, 2022 and December 31, 2021 are summarized below (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:30.97%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.59%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:13.59%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.59%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:13.59%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.59%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:13.59%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.59%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:13.59%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:30.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:15.19%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Cost</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:15.19%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Unrealized Gains in Investment Income</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:15.19%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Unrealized Losses in Investment Income</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:15.19%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Estimated Fair Value (Level 1 Inputs)</td></tr><tr><td style="vertical-align:bottom;width:30.97%;background:#cceeff;margin:0pt;padding:0pt;">March 31, 2022</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.59%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:13.59%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.59%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:13.59%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.59%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:13.59%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.59%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:13.59%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:30.97%;margin:0pt;padding:0pt;">Common Stock</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;margin:0pt;padding:0pt;"> 15,731</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;margin:0pt;padding:0pt;"> (152)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;margin:0pt;padding:0pt;"> 15,579</td></tr><tr><td style="vertical-align:top;width:30.97%;background:#cceeff;margin:0pt;padding:0pt;">Operating Units</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 23,253</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (245)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 23,008</td></tr><tr><td style="vertical-align:top;width:30.97%;margin:0pt;padding:0pt;">Total Equity Securities</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.59%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 38,984</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (397)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 38,587</td></tr><tr><td style="vertical-align:top;width:30.97%;background:#cceeff;margin:0pt;padding:0pt;">Total Available-for-Sale Securities</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.59%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 38,984</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> (397)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 38,587</td></tr><tr><td style="vertical-align:top;width:30.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.59%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:30.97%;background:#cceeff;margin:0pt;padding:0pt;">December 31, 2021</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.59%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:30.97%;margin:0pt;padding:0pt;">Common Stock</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;margin:0pt;padding:0pt;"> 15,643</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;margin:0pt;padding:0pt;"> 868</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;margin:0pt;padding:0pt;"> 16,511</td></tr><tr><td style="vertical-align:top;width:30.97%;background:#cceeff;margin:0pt;padding:0pt;">Operating Units</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 23,253</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1,273</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 24,526</td></tr><tr><td style="vertical-align:top;width:30.97%;margin:0pt;padding:0pt;">Total Equity Securities</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.59%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 38,896</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 2,141</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 41,037</td></tr><tr><td style="vertical-align:top;width:30.97%;background:#cceeff;margin:0pt;padding:0pt;">Total Available-for-Sale Securities</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.59%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 38,896</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 2,141</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 41,037</td></tr></table>

815790

4765

100000

18.47

8088

100000

17.65

2050000.00 0.152

38600000

1200000

0.091

828643

0.070

The Company’s available-for-sale securities as of March 31, 2022 and December 31, 2021 are summarized below (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:30.97%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.59%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:13.59%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.59%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:13.59%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.59%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:13.59%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.59%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:13.59%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:30.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:15.19%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Cost</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:15.19%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Unrealized Gains in Investment Income</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:15.19%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Unrealized Losses in Investment Income</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:15.19%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Estimated Fair Value (Level 1 Inputs)</td></tr><tr><td style="vertical-align:bottom;width:30.97%;background:#cceeff;margin:0pt;padding:0pt;">March 31, 2022</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.59%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:13.59%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.59%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:13.59%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.59%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:13.59%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.59%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:13.59%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:30.97%;margin:0pt;padding:0pt;">Common Stock</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;margin:0pt;padding:0pt;"> 15,731</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;margin:0pt;padding:0pt;"> (152)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;margin:0pt;padding:0pt;"> 15,579</td></tr><tr><td style="vertical-align:top;width:30.97%;background:#cceeff;margin:0pt;padding:0pt;">Operating Units</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 23,253</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (245)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 23,008</td></tr><tr><td style="vertical-align:top;width:30.97%;margin:0pt;padding:0pt;">Total Equity Securities</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.59%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 38,984</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (397)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 38,587</td></tr><tr><td style="vertical-align:top;width:30.97%;background:#cceeff;margin:0pt;padding:0pt;">Total Available-for-Sale Securities</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.59%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 38,984</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> (397)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 38,587</td></tr><tr><td style="vertical-align:top;width:30.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.59%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:30.97%;background:#cceeff;margin:0pt;padding:0pt;">December 31, 2021</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.59%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:30.97%;margin:0pt;padding:0pt;">Common Stock</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;margin:0pt;padding:0pt;"> 15,643</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;margin:0pt;padding:0pt;"> 868</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;margin:0pt;padding:0pt;"> 16,511</td></tr><tr><td style="vertical-align:top;width:30.97%;background:#cceeff;margin:0pt;padding:0pt;">Operating Units</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 23,253</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1,273</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 24,526</td></tr><tr><td style="vertical-align:top;width:30.97%;margin:0pt;padding:0pt;">Total Equity Securities</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.59%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 38,896</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 2,141</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 41,037</td></tr><tr><td style="vertical-align:top;width:30.97%;background:#cceeff;margin:0pt;padding:0pt;">Total Available-for-Sale Securities</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.59%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 38,896</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 2,141</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.59%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.59%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 41,037</td></tr></table>

15731000

152000

15579000

23253000

245000

23008000

38984000

397000

38587000

38984000

397000

38587000

15643000

868000

16511000

23253000

1273000

24526000

38896000

2141000

41037000

38896000

2141000

41037000

NOTE 9. FAIR VALUE OF FINANCIAL INSTRUMENTSThe following table presents the carrying value and estimated fair value of the Company’s financial instruments not carried at fair value on the consolidated balance sheets at March 31, 2022 and December 31, 2021 (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:46.64%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.42%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.52%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.52%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.48%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:46.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:24.08%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, 2022</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:25.14%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">December 31, 2021</td></tr><tr><td style="vertical-align:bottom;width:46.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:10.45%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Carrying Value</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:11.56%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Estimated Fair Value</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:11.55%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Carrying Value</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:11.52%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Estimated Fair Value</td></tr><tr><td style="vertical-align:top;width:46.64%;background:#cceeff;margin:0pt;padding:0pt;">Cash and Cash Equivalents - Level 1</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.42%;background:#cceeff;margin:0pt;padding:0pt;"> 9,450</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.52%;background:#cceeff;margin:0pt;padding:0pt;"> 9,450</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.52%;background:#cceeff;margin:0pt;padding:0pt;"> 8,615</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.48%;background:#cceeff;margin:0pt;padding:0pt;"> 8,615</td></tr><tr><td style="vertical-align:top;width:46.64%;margin:0pt;padding:0pt;">Restricted Cash - Level 1</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.42%;margin:0pt;padding:0pt;"> 26,385</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.52%;margin:0pt;padding:0pt;"> 26,385</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.52%;margin:0pt;padding:0pt;"> 22,734</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.48%;margin:0pt;padding:0pt;"> 22,734</td></tr><tr><td style="vertical-align:top;width:46.64%;background:#cceeff;margin:0pt;padding:0pt;">Commercial Loan and Master Lease Investments - Level 2</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.42%;background:#cceeff;margin:0pt;padding:0pt;"> 21,830</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.52%;background:#cceeff;margin:0pt;padding:0pt;"> 21,922</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.52%;background:#cceeff;margin:0pt;padding:0pt;"> 39,095</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.48%;background:#cceeff;margin:0pt;padding:0pt;"> 39,109</td></tr><tr><td style="vertical-align:top;width:46.64%;margin:0pt;padding:0pt;">Long-Term Debt - Level 2</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.42%;margin:0pt;padding:0pt;"> 298,079</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.52%;margin:0pt;padding:0pt;"> 301,902</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.52%;margin:0pt;padding:0pt;"> 278,273</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.48%;margin:0pt;padding:0pt;"> 288,000</td></tr></table>To determine estimated fair values of the financial instruments listed above, market rates of interest, which include credit assumptions, were used to discount contractual cash flows. The estimated fair values are not necessarily indicative of the amount the Company could realize on disposition of the financial instruments. The use of different market assumptions or estimation methodologies could have a material effect on the estimated fair value amounts.The following table presents the fair value of assets measured on a recurring basis by level as of March 31, 2022 and December 31, 2021 (in thousands). See Note 17, “Interest Rate Swaps” for further disclosure related to the Company’s interest rate swaps.<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:45.94%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.22%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:0.92%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:8.2%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:0.92%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:12.12%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:0.93%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:12.13%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:0.93%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:12.07%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:45.94%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.22%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:0.92%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.2%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.85%;margin:0pt;padding:0pt;"></td><td colspan="8" style="vertical-align:bottom;width:42.84%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Fair Value at Reporting Date Using</td></tr><tr><td style="vertical-align:bottom;width:45.94%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.22%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:9.12%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Fair Value</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:13.05%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Quoted Prices in Active Markets for Identical Assets (Level 1)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:13.07%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Significant Other Observable Inputs (Level 2)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:13.01%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Significant Unobservable Inputs (Level 3)</td></tr><tr><td style="vertical-align:bottom;width:45.94%;background:#cceeff;margin:0pt;padding:0pt;">March 31, 2022</td><td style="vertical-align:bottom;white-space:nowrap;width:0.22%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:0.92%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:8.2%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:0.92%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:12.12%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:0.93%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:12.13%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:0.93%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:12.07%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:45.94%;margin:0pt;padding:0pt;">Cash Flow Hedge - 2026 Term Loan Interest Rate Swap (1)</td><td style="vertical-align:bottom;white-space:nowrap;width:0.22%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.92%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.2%;margin:0pt;padding:0pt;"> 2,984</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:0.92%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.12%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:0.93%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.13%;margin:0pt;padding:0pt;"> 2,984</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:0.93%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.07%;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:top;width:45.94%;background:#cceeff;margin:0pt;padding:0pt;">Cash Flow Hedge - 2026 Term Loan Interest Rate Swap (2)</td><td style="vertical-align:bottom;white-space:nowrap;width:0.22%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.92%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.2%;background:#cceeff;margin:0pt;padding:0pt;"> 929</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:0.92%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.12%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:0.93%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.13%;background:#cceeff;margin:0pt;padding:0pt;"> 929</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:0.93%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.07%;background:#cceeff;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:top;width:45.94%;margin:0pt;padding:0pt;">Cash Flow Hedge - 2027 Term Loan Interest Rate Swap (3)</td><td style="vertical-align:bottom;white-space:nowrap;width:0.22%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.92%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.2%;margin:0pt;padding:0pt;"> 5,616</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:0.92%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.12%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:0.93%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.13%;margin:0pt;padding:0pt;"> 5,616</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:0.93%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.07%;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:top;width:45.94%;background:#cceeff;margin:0pt;padding:0pt;">Investment Securities</td><td style="vertical-align:bottom;white-space:nowrap;width:0.22%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.92%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.2%;background:#cceeff;margin:0pt;padding:0pt;"> 38,587</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:0.92%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.12%;background:#cceeff;margin:0pt;padding:0pt;"> 38,587</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:0.93%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.13%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:0.93%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.07%;background:#cceeff;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:bottom;width:45.94%;margin:0pt;padding:0pt;">December 31, 2021</td><td style="vertical-align:bottom;white-space:nowrap;width:0.22%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:0.92%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:8.2%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:0.92%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:12.12%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:0.93%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:12.13%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:0.93%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:12.07%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:45.94%;background:#cceeff;margin:0pt;padding:0pt;">Cash Flow Hedge - 2026 Term Loan Interest Rate Swap (1)</td><td style="vertical-align:bottom;white-space:nowrap;width:0.22%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.92%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.2%;background:#cceeff;margin:0pt;padding:0pt;"> 727</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:0.92%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.12%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:0.93%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.13%;background:#cceeff;margin:0pt;padding:0pt;"> 727</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:0.93%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.07%;background:#cceeff;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:top;width:45.94%;margin:0pt;padding:0pt;">Cash Flow Hedge - 2026 Term Loan Interest Rate Swap (2)</td><td style="vertical-align:bottom;white-space:nowrap;width:0.22%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.92%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.2%;margin:0pt;padding:0pt;"> 240</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:0.92%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.12%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:0.93%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.13%;margin:0pt;padding:0pt;"> 240</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:0.93%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.07%;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:top;width:45.94%;background:#cceeff;margin:0pt;padding:0pt;">Cash Flow Hedge - 2027 Term Loan Interest Rate Swap (3)</td><td style="vertical-align:bottom;white-space:nowrap;width:0.22%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.92%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.2%;background:#cceeff;margin:0pt;padding:0pt;"> 550</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:0.92%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.12%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:0.93%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.13%;background:#cceeff;margin:0pt;padding:0pt;"> 550</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:0.93%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.07%;background:#cceeff;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:top;width:45.94%;margin:0pt;padding:0pt;">Investment Securities</td><td style="vertical-align:bottom;white-space:nowrap;width:0.22%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.92%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.2%;margin:0pt;padding:0pt;"> 41,037</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:0.92%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.12%;margin:0pt;padding:0pt;"> 41,037</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:0.93%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.13%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:0.93%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.07%;margin:0pt;padding:0pt;"> —</td></tr></table><div style="font-family:'Times New Roman','Times','serif';font-size:10.0pt;margin-bottom:0pt;margin-top:0pt;min-height:1.19em;position:relative;width:100%;"><div style="background-color:#000000;height:1.5pt;position:relative;top:0.6em;width:25.0%;border:none;margin:0 auto 0 0;"/></div><table style="border-collapse:collapse;border:0;"><tr><td style="vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(1)</td><td style="padding:0pt;">Effective March 10, 2021, the Company redesignated the interest rate swap, entered into as of August 31, 2020, to fix LIBOR and achieve a fixed interest rate of 0.22% plus the applicable spread on the $50.0 million 2026 Term Loan, hereinafter defined. </td></tr></table><table style="border-collapse:collapse;border:0;"><tr><td style="vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(2)</td><td style="padding:0pt;">Effective August 31, 2021, the Company utilized an interest rate swap to fix LIBOR and achieve a fixed interest rate of 0.77% plus the applicable spread on the remaining $15.0 million outstanding principal balance on the 2026 Term Loan, hereinafter defined.</td></tr></table><table style="border-collapse:collapse;border:0;"><tr><td style="vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(3)</td><td style="padding:0pt;">Effective November 5, 2021 the Company redesignated the interest rate swap, entered into as of March 31, 2020, to fix LIBOR and achieve a fixed interest rate of 0.73% plus the applicable spread on the $100.0 million 2027 Term Loan, hereinafter defined.</td></tr></table>No assets were measured on a non-recurring basis as of March 31, 2022 or December 31, 2021.

The following table presents the carrying value and estimated fair value of the Company’s financial instruments not carried at fair value on the consolidated balance sheets at March 31, 2022 and December 31, 2021 (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:46.64%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.42%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.52%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.52%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.48%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:46.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:24.08%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, 2022</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:25.14%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">December 31, 2021</td></tr><tr><td style="vertical-align:bottom;width:46.64%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:10.45%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Carrying Value</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:11.56%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Estimated Fair Value</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:11.55%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Carrying Value</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:11.52%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Estimated Fair Value</td></tr><tr><td style="vertical-align:top;width:46.64%;background:#cceeff;margin:0pt;padding:0pt;">Cash and Cash Equivalents - Level 1</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.42%;background:#cceeff;margin:0pt;padding:0pt;"> 9,450</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.52%;background:#cceeff;margin:0pt;padding:0pt;"> 9,450</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.52%;background:#cceeff;margin:0pt;padding:0pt;"> 8,615</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.48%;background:#cceeff;margin:0pt;padding:0pt;"> 8,615</td></tr><tr><td style="vertical-align:top;width:46.64%;margin:0pt;padding:0pt;">Restricted Cash - Level 1</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.42%;margin:0pt;padding:0pt;"> 26,385</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.52%;margin:0pt;padding:0pt;"> 26,385</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.52%;margin:0pt;padding:0pt;"> 22,734</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.48%;margin:0pt;padding:0pt;"> 22,734</td></tr><tr><td style="vertical-align:top;width:46.64%;background:#cceeff;margin:0pt;padding:0pt;">Commercial Loan and Master Lease Investments - Level 2</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.42%;background:#cceeff;margin:0pt;padding:0pt;"> 21,830</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.52%;background:#cceeff;margin:0pt;padding:0pt;"> 21,922</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.52%;background:#cceeff;margin:0pt;padding:0pt;"> 39,095</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.48%;background:#cceeff;margin:0pt;padding:0pt;"> 39,109</td></tr><tr><td style="vertical-align:top;width:46.64%;margin:0pt;padding:0pt;">Long-Term Debt - Level 2</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.42%;margin:0pt;padding:0pt;"> 298,079</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.52%;margin:0pt;padding:0pt;"> 301,902</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.03%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.52%;margin:0pt;padding:0pt;"> 278,273</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.04%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.48%;margin:0pt;padding:0pt;"> 288,000</td></tr></table>

9450000

8615000

26385000 26385000 22734000 22734000

21830000

21922000

39095000

39109000

298079000

301902000

278273000

288000000

The following table presents the fair value of assets measured on a recurring basis by level as of March 31, 2022 and December 31, 2021 (in thousands). See Note 17, “Interest Rate Swaps” for further disclosure related to the Company’s interest rate swaps.<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:45.94%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.22%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:0.92%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:8.2%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:0.92%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:12.12%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:0.93%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:12.13%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:0.93%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:12.07%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:45.94%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.22%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:0.92%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.2%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.85%;margin:0pt;padding:0pt;"></td><td colspan="8" style="vertical-align:bottom;width:42.84%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Fair Value at Reporting Date Using</td></tr><tr><td style="vertical-align:bottom;width:45.94%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.22%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:9.12%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Fair Value</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:13.05%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Quoted Prices in Active Markets for Identical Assets (Level 1)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:13.07%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Significant Other Observable Inputs (Level 2)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:13.01%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Significant Unobservable Inputs (Level 3)</td></tr><tr><td style="vertical-align:bottom;width:45.94%;background:#cceeff;margin:0pt;padding:0pt;">March 31, 2022</td><td style="vertical-align:bottom;white-space:nowrap;width:0.22%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:0.92%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:8.2%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:0.92%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:12.12%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:0.93%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:12.13%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:0.93%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:12.07%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:45.94%;margin:0pt;padding:0pt;">Cash Flow Hedge - 2026 Term Loan Interest Rate Swap (1)</td><td style="vertical-align:bottom;white-space:nowrap;width:0.22%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.92%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.2%;margin:0pt;padding:0pt;"> 2,984</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:0.92%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.12%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:0.93%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.13%;margin:0pt;padding:0pt;"> 2,984</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:0.93%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.07%;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:top;width:45.94%;background:#cceeff;margin:0pt;padding:0pt;">Cash Flow Hedge - 2026 Term Loan Interest Rate Swap (2)</td><td style="vertical-align:bottom;white-space:nowrap;width:0.22%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.92%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.2%;background:#cceeff;margin:0pt;padding:0pt;"> 929</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:0.92%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.12%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:0.93%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.13%;background:#cceeff;margin:0pt;padding:0pt;"> 929</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:0.93%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.07%;background:#cceeff;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:top;width:45.94%;margin:0pt;padding:0pt;">Cash Flow Hedge - 2027 Term Loan Interest Rate Swap (3)</td><td style="vertical-align:bottom;white-space:nowrap;width:0.22%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.92%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.2%;margin:0pt;padding:0pt;"> 5,616</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:0.92%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.12%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:0.93%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.13%;margin:0pt;padding:0pt;"> 5,616</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:0.93%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.07%;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:top;width:45.94%;background:#cceeff;margin:0pt;padding:0pt;">Investment Securities</td><td style="vertical-align:bottom;white-space:nowrap;width:0.22%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.92%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.2%;background:#cceeff;margin:0pt;padding:0pt;"> 38,587</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:0.92%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.12%;background:#cceeff;margin:0pt;padding:0pt;"> 38,587</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:0.93%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.13%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:0.93%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.07%;background:#cceeff;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:bottom;width:45.94%;margin:0pt;padding:0pt;">December 31, 2021</td><td style="vertical-align:bottom;white-space:nowrap;width:0.22%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:0.92%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:8.2%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:0.92%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:12.12%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:0.93%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:12.13%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:0.93%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:12.07%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:45.94%;background:#cceeff;margin:0pt;padding:0pt;">Cash Flow Hedge - 2026 Term Loan Interest Rate Swap (1)</td><td style="vertical-align:bottom;white-space:nowrap;width:0.22%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.92%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.2%;background:#cceeff;margin:0pt;padding:0pt;"> 727</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:0.92%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.12%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:0.93%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.13%;background:#cceeff;margin:0pt;padding:0pt;"> 727</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:0.93%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.07%;background:#cceeff;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:top;width:45.94%;margin:0pt;padding:0pt;">Cash Flow Hedge - 2026 Term Loan Interest Rate Swap (2)</td><td style="vertical-align:bottom;white-space:nowrap;width:0.22%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.92%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.2%;margin:0pt;padding:0pt;"> 240</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:0.92%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.12%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:0.93%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.13%;margin:0pt;padding:0pt;"> 240</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:0.93%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.07%;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:top;width:45.94%;background:#cceeff;margin:0pt;padding:0pt;">Cash Flow Hedge - 2027 Term Loan Interest Rate Swap (3)</td><td style="vertical-align:bottom;white-space:nowrap;width:0.22%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.92%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.2%;background:#cceeff;margin:0pt;padding:0pt;"> 550</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:0.92%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.12%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:0.93%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.13%;background:#cceeff;margin:0pt;padding:0pt;"> 550</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:0.93%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.07%;background:#cceeff;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:top;width:45.94%;margin:0pt;padding:0pt;">Investment Securities</td><td style="vertical-align:bottom;white-space:nowrap;width:0.22%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.92%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:8.2%;margin:0pt;padding:0pt;"> 41,037</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:0.92%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.12%;margin:0pt;padding:0pt;"> 41,037</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:0.93%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.13%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:0.93%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.07%;margin:0pt;padding:0pt;"> —</td></tr></table><div style="font-family:'Times New Roman','Times','serif';font-size:10.0pt;margin-bottom:0pt;margin-top:0pt;min-height:1.19em;position:relative;width:100%;"><div style="background-color:#000000;height:1.5pt;position:relative;top:0.6em;width:25.0%;border:none;margin:0 auto 0 0;"/></div><table style="border-collapse:collapse;border:0;"><tr><td style="vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(1)</td><td style="padding:0pt;">Effective March 10, 2021, the Company redesignated the interest rate swap, entered into as of August 31, 2020, to fix LIBOR and achieve a fixed interest rate of 0.22% plus the applicable spread on the $50.0 million 2026 Term Loan, hereinafter defined. </td></tr></table><table style="border-collapse:collapse;border:0;"><tr><td style="vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(2)</td><td style="padding:0pt;">Effective August 31, 2021, the Company utilized an interest rate swap to fix LIBOR and achieve a fixed interest rate of 0.77% plus the applicable spread on the remaining $15.0 million outstanding principal balance on the 2026 Term Loan, hereinafter defined.</td></tr></table><table style="border-collapse:collapse;border:0;"><tr><td style="vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(3)</td><td style="padding:0pt;">Effective November 5, 2021 the Company redesignated the interest rate swap, entered into as of March 31, 2020, to fix LIBOR and achieve a fixed interest rate of 0.73% plus the applicable spread on the $100.0 million 2027 Term Loan, hereinafter defined.</td></tr></table>

2984000

929000

5616000

38587000

727000

240000

550000

41037000

0.0022

50000000.0

0.0077

15000000.0

0.0073

100000000.0

NOTE 10. INTANGIBLE ASSETS AND LIABILITIESIntangible assets and liabilities consist of the value of above-market and below-market leases, the value of in-place leases, and the value of leasing costs, based in each case on their fair values. Intangible assets and liabilities consisted of the following as of March 31, 2022 and December 31, 2021 (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:53.84%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.97%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.97%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:53.84%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.97%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:43.17%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As of</td></tr><tr><td style="vertical-align:bottom;width:53.84%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.97%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:20.09%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, 2022</td><td style="vertical-align:bottom;width:2.97%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:20.09%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">December 31, 2021</td></tr><tr><td style="vertical-align:top;width:53.84%;background:#cceeff;margin:0pt;padding:0pt;">Intangible Lease Assets:</td><td style="vertical-align:bottom;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:53.84%;margin:0pt;padding:0pt;">Value of In-Place Leases</td><td style="vertical-align:bottom;width:2.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.97%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;margin:0pt;padding:0pt;"> 63,206</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;margin:0pt;padding:0pt;"> 59,293</td></tr><tr><td style="vertical-align:top;width:53.84%;background:#cceeff;margin:0pt;padding:0pt;">Value of Above Market In-Place Leases</td><td style="vertical-align:bottom;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;background:#cceeff;margin:0pt;padding:0pt;"> 24,001</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;background:#cceeff;margin:0pt;padding:0pt;"> 23,216</td></tr><tr><td style="vertical-align:top;width:53.84%;margin:0pt;padding:0pt;">Value of Intangible Leasing Costs</td><td style="vertical-align:bottom;width:2.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.97%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 19,626</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 18,456</td></tr><tr><td style="vertical-align:top;width:53.84%;background:#cceeff;margin:0pt;padding:0pt;">Sub-total Intangible Lease Assets</td><td style="vertical-align:bottom;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;background:#cceeff;margin:0pt;padding:0pt;"> 106,833</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;background:#cceeff;margin:0pt;padding:0pt;"> 100,965</td></tr><tr><td style="vertical-align:top;width:53.84%;margin:0pt;padding:0pt;">Accumulated Amortization</td><td style="vertical-align:bottom;width:2.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.97%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (24,908)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (21,473)</td></tr><tr><td style="vertical-align:top;width:53.84%;background:#cceeff;margin:0pt;padding:0pt;">Sub-total Intangible Lease Assets—Net</td><td style="vertical-align:bottom;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.97%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 81,925</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 79,492</td></tr><tr><td style="vertical-align:top;width:53.84%;margin:0pt;padding:0pt;">Intangible Lease Liabilities (Included in Accrued and Other Liabilities):</td><td style="vertical-align:bottom;width:2.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:53.84%;background:#cceeff;margin:0pt;padding:0pt;">Value of Below Market In-Place Leases</td><td style="vertical-align:bottom;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.97%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (7,146)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (6,942)</td></tr><tr><td style="vertical-align:top;width:53.84%;margin:0pt;padding:0pt;">Sub-total Intangible Lease Liabilities</td><td style="vertical-align:bottom;width:2.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;margin:0pt;padding:0pt;"> (7,146)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;margin:0pt;padding:0pt;"> (6,942)</td></tr><tr><td style="vertical-align:top;width:53.84%;background:#cceeff;margin:0pt;padding:0pt;">Accumulated Amortization</td><td style="vertical-align:bottom;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.97%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1,603</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1,341</td></tr><tr><td style="vertical-align:top;width:53.84%;margin:0pt;padding:0pt;">Sub-total Intangible Lease Liabilities—Net</td><td style="vertical-align:bottom;width:2.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.97%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (5,543)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (5,601)</td></tr><tr><td style="vertical-align:top;width:53.84%;background:#cceeff;margin:0pt;padding:0pt;">Total Intangible Assets and Liabilities—Net</td><td style="vertical-align:bottom;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.97%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 76,382</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 73,891</td></tr></table>During the three months ended March 31, 2022, the value of in-place leases increased by $3.9 million, the value of above-market in-place leases increased by $0.8 million, the value of intangible leasing costs increased by $1.2 million, and the value of below-market in-place leases increased by $0.2 million. Such changes reflect the acquisition of one multi-tenant income property, net of two single-tenant income properties sold during the three months ended March 31, 2022. Net accumulated amortization increased by $3.2 million, for a net increase during the three months ended March 31, 2022 of $2.5 million. The following table reflects the net amortization of intangible assets and liabilities during the three months ended March 31, 2022 and 2021 (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:53.84%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:53.84%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:43.17%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Three Months Ended</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:53.84%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:20.09%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, 2022</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:20.09%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, 2021</td></tr><tr><td style="vertical-align:top;width:53.84%;background:#cceeff;margin:0pt;padding:0pt;">Amortization Expense </td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;background:#cceeff;margin:0pt;padding:0pt;"> 2,695</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;background:#cceeff;margin:0pt;padding:0pt;"> 1,827</td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:53.84%;margin:0pt;padding:0pt;">Accretion to Income Properties Revenue</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 481</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (396)</td></tr><tr><td style="vertical-align:top;width:53.84%;background:#cceeff;margin:0pt;padding:0pt;">Net Amortization of Intangible Assets and Liabilities</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 3,176</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 1,431</td></tr></table>The estimated future amortization expense (income) related to net intangible assets and liabilities is as follows (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:43.21%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:top;width:2.4%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:top;width:2.4%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.74%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.4%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:top;width:2.4%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.74%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.4%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:top;width:2.4%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:14.89%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:43.21%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Year Ending December 31,</td><td style="vertical-align:bottom;width:2.4%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:16.14%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Future Amortization Amount</td><td style="vertical-align:bottom;width:2.4%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:16.14%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Future Accretion to Income Property Revenue</td><td style="vertical-align:bottom;width:2.4%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:17.29%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Net Future Amortization of Intangible Assets and Liabilities</td></tr><tr><td style="vertical-align:top;width:43.21%;background:#cceeff;margin:0pt;padding:0pt;">Remainder of 2022</td><td style="vertical-align:top;width:2.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:2.4%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.74%;background:#cceeff;margin:0pt;padding:0pt;"> 8,419</td><td style="vertical-align:bottom;width:2.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:2.4%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.74%;background:#cceeff;margin:0pt;padding:0pt;"> 1,492</td><td style="vertical-align:bottom;width:2.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:2.4%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.89%;background:#cceeff;margin:0pt;padding:0pt;"> 9,911</td></tr><tr><td style="vertical-align:top;width:43.21%;margin:0pt;padding:0pt;">2023</td><td style="vertical-align:top;width:2.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:2.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.74%;margin:0pt;padding:0pt;"> 11,128</td><td style="vertical-align:bottom;width:2.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.74%;margin:0pt;padding:0pt;"> 2,013</td><td style="vertical-align:bottom;width:2.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.89%;margin:0pt;padding:0pt;"> 13,141</td></tr><tr><td style="vertical-align:top;width:43.21%;background:#cceeff;margin:0pt;padding:0pt;">2024</td><td style="vertical-align:top;width:2.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:2.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.74%;background:#cceeff;margin:0pt;padding:0pt;"> 11,117</td><td style="vertical-align:bottom;width:2.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.74%;background:#cceeff;margin:0pt;padding:0pt;"> 2,097</td><td style="vertical-align:bottom;width:2.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.89%;background:#cceeff;margin:0pt;padding:0pt;"> 13,214</td></tr><tr><td style="vertical-align:top;width:43.21%;margin:0pt;padding:0pt;">2025</td><td style="vertical-align:top;width:2.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:2.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.74%;margin:0pt;padding:0pt;"> 8,891</td><td style="vertical-align:bottom;width:2.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.74%;margin:0pt;padding:0pt;"> 2,153</td><td style="vertical-align:bottom;width:2.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.89%;margin:0pt;padding:0pt;"> 11,044</td></tr><tr><td style="vertical-align:top;width:43.21%;background:#cceeff;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:top;width:2.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:2.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.74%;background:#cceeff;margin:0pt;padding:0pt;"> 7,384</td><td style="vertical-align:bottom;width:2.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.74%;background:#cceeff;margin:0pt;padding:0pt;"> 1,871</td><td style="vertical-align:bottom;width:2.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.89%;background:#cceeff;margin:0pt;padding:0pt;"> 9,255</td></tr><tr><td style="vertical-align:top;width:43.21%;margin:0pt;padding:0pt;">2027</td><td style="vertical-align:top;width:2.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:2.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.74%;margin:0pt;padding:0pt;"> 7,125</td><td style="vertical-align:bottom;width:2.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.74%;margin:0pt;padding:0pt;"> 1,550</td><td style="vertical-align:bottom;width:2.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.89%;margin:0pt;padding:0pt;"> 8,675</td></tr><tr><td style="vertical-align:top;width:43.21%;background:#cceeff;margin:0pt;padding:0pt;">2028 and Thereafter</td><td style="vertical-align:top;width:2.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:2.4%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.74%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 8,848</td><td style="vertical-align:bottom;width:2.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.4%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.74%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 2,294</td><td style="vertical-align:bottom;width:2.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.4%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.89%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 11,142</td></tr><tr><td style="vertical-align:top;width:43.21%;margin:0pt;padding:0pt;">Total</td><td style="vertical-align:top;width:2.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:2.4%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.74%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 62,912</td><td style="vertical-align:bottom;width:2.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.4%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.74%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 13,470</td><td style="vertical-align:bottom;width:2.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.4%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.89%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 76,382</td></tr></table>As of March 31, 2022, the weighted average amortization period of total intangible assets and liabilities was 7.7 years and 8.5 years, respectively.

Intangible assets and liabilities consisted of the following as of March 31, 2022 and December 31, 2021 (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:53.84%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.97%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.97%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:53.84%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.97%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:43.17%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As of</td></tr><tr><td style="vertical-align:bottom;width:53.84%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.97%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:20.09%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, 2022</td><td style="vertical-align:bottom;width:2.97%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:20.09%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">December 31, 2021</td></tr><tr><td style="vertical-align:top;width:53.84%;background:#cceeff;margin:0pt;padding:0pt;">Intangible Lease Assets:</td><td style="vertical-align:bottom;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:53.84%;margin:0pt;padding:0pt;">Value of In-Place Leases</td><td style="vertical-align:bottom;width:2.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.97%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;margin:0pt;padding:0pt;"> 63,206</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;margin:0pt;padding:0pt;"> 59,293</td></tr><tr><td style="vertical-align:top;width:53.84%;background:#cceeff;margin:0pt;padding:0pt;">Value of Above Market In-Place Leases</td><td style="vertical-align:bottom;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;background:#cceeff;margin:0pt;padding:0pt;"> 24,001</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;background:#cceeff;margin:0pt;padding:0pt;"> 23,216</td></tr><tr><td style="vertical-align:top;width:53.84%;margin:0pt;padding:0pt;">Value of Intangible Leasing Costs</td><td style="vertical-align:bottom;width:2.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.97%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 19,626</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 18,456</td></tr><tr><td style="vertical-align:top;width:53.84%;background:#cceeff;margin:0pt;padding:0pt;">Sub-total Intangible Lease Assets</td><td style="vertical-align:bottom;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;background:#cceeff;margin:0pt;padding:0pt;"> 106,833</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;background:#cceeff;margin:0pt;padding:0pt;"> 100,965</td></tr><tr><td style="vertical-align:top;width:53.84%;margin:0pt;padding:0pt;">Accumulated Amortization</td><td style="vertical-align:bottom;width:2.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.97%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (24,908)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (21,473)</td></tr><tr><td style="vertical-align:top;width:53.84%;background:#cceeff;margin:0pt;padding:0pt;">Sub-total Intangible Lease Assets—Net</td><td style="vertical-align:bottom;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.97%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 81,925</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 79,492</td></tr><tr><td style="vertical-align:top;width:53.84%;margin:0pt;padding:0pt;">Intangible Lease Liabilities (Included in Accrued and Other Liabilities):</td><td style="vertical-align:bottom;width:2.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:53.84%;background:#cceeff;margin:0pt;padding:0pt;">Value of Below Market In-Place Leases</td><td style="vertical-align:bottom;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.97%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (7,146)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (6,942)</td></tr><tr><td style="vertical-align:top;width:53.84%;margin:0pt;padding:0pt;">Sub-total Intangible Lease Liabilities</td><td style="vertical-align:bottom;width:2.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;margin:0pt;padding:0pt;"> (7,146)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;margin:0pt;padding:0pt;"> (6,942)</td></tr><tr><td style="vertical-align:top;width:53.84%;background:#cceeff;margin:0pt;padding:0pt;">Accumulated Amortization</td><td style="vertical-align:bottom;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.97%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1,603</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1,341</td></tr><tr><td style="vertical-align:top;width:53.84%;margin:0pt;padding:0pt;">Sub-total Intangible Lease Liabilities—Net</td><td style="vertical-align:bottom;width:2.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.97%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (5,543)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (5,601)</td></tr><tr><td style="vertical-align:top;width:53.84%;background:#cceeff;margin:0pt;padding:0pt;">Total Intangible Assets and Liabilities—Net</td><td style="vertical-align:bottom;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.97%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 76,382</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 73,891</td></tr></table>

63206000

59293000

24001000

23216000

19626000

18456000

106833000

100965000

24908000

21473000

81925000

79492000

7146000

6942000

7146000 6942000

1603000

1341000

5543000

5601000

76382000 73891000

3900000

800000

1200000

200000

1 2 3200000 2500000 The following table reflects the net amortization of intangible assets and liabilities during the three months ended March 31, 2022 and 2021 (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:53.84%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:53.84%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:43.17%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Three Months Ended</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:53.84%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:20.09%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, 2022</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:20.09%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, 2021</td></tr><tr><td style="vertical-align:top;width:53.84%;background:#cceeff;margin:0pt;padding:0pt;">Amortization Expense </td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;background:#cceeff;margin:0pt;padding:0pt;"> 2,695</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;background:#cceeff;margin:0pt;padding:0pt;"> 1,827</td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:53.84%;margin:0pt;padding:0pt;">Accretion to Income Properties Revenue</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 481</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (396)</td></tr><tr><td style="vertical-align:top;width:53.84%;background:#cceeff;margin:0pt;padding:0pt;">Net Amortization of Intangible Assets and Liabilities</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 3,176</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:17.12%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 1,431</td></tr></table>

2695000

1827000

481000

-396000

3176000 1431000 The estimated future amortization expense (income) related to net intangible assets and liabilities is as follows (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:43.21%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:top;width:2.4%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:top;width:2.4%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.74%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.4%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:top;width:2.4%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.74%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.4%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:top;width:2.4%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:14.89%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:43.21%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Year Ending December 31,</td><td style="vertical-align:bottom;width:2.4%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:16.14%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Future Amortization Amount</td><td style="vertical-align:bottom;width:2.4%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:16.14%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Future Accretion to Income Property Revenue</td><td style="vertical-align:bottom;width:2.4%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:17.29%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Net Future Amortization of Intangible Assets and Liabilities</td></tr><tr><td style="vertical-align:top;width:43.21%;background:#cceeff;margin:0pt;padding:0pt;">Remainder of 2022</td><td style="vertical-align:top;width:2.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:2.4%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.74%;background:#cceeff;margin:0pt;padding:0pt;"> 8,419</td><td style="vertical-align:bottom;width:2.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:2.4%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.74%;background:#cceeff;margin:0pt;padding:0pt;"> 1,492</td><td style="vertical-align:bottom;width:2.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:2.4%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.89%;background:#cceeff;margin:0pt;padding:0pt;"> 9,911</td></tr><tr><td style="vertical-align:top;width:43.21%;margin:0pt;padding:0pt;">2023</td><td style="vertical-align:top;width:2.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:2.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.74%;margin:0pt;padding:0pt;"> 11,128</td><td style="vertical-align:bottom;width:2.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.74%;margin:0pt;padding:0pt;"> 2,013</td><td style="vertical-align:bottom;width:2.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.89%;margin:0pt;padding:0pt;"> 13,141</td></tr><tr><td style="vertical-align:top;width:43.21%;background:#cceeff;margin:0pt;padding:0pt;">2024</td><td style="vertical-align:top;width:2.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:2.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.74%;background:#cceeff;margin:0pt;padding:0pt;"> 11,117</td><td style="vertical-align:bottom;width:2.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.74%;background:#cceeff;margin:0pt;padding:0pt;"> 2,097</td><td style="vertical-align:bottom;width:2.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.89%;background:#cceeff;margin:0pt;padding:0pt;"> 13,214</td></tr><tr><td style="vertical-align:top;width:43.21%;margin:0pt;padding:0pt;">2025</td><td style="vertical-align:top;width:2.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:2.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.74%;margin:0pt;padding:0pt;"> 8,891</td><td style="vertical-align:bottom;width:2.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.74%;margin:0pt;padding:0pt;"> 2,153</td><td style="vertical-align:bottom;width:2.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.89%;margin:0pt;padding:0pt;"> 11,044</td></tr><tr><td style="vertical-align:top;width:43.21%;background:#cceeff;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:top;width:2.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:2.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.74%;background:#cceeff;margin:0pt;padding:0pt;"> 7,384</td><td style="vertical-align:bottom;width:2.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.74%;background:#cceeff;margin:0pt;padding:0pt;"> 1,871</td><td style="vertical-align:bottom;width:2.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.89%;background:#cceeff;margin:0pt;padding:0pt;"> 9,255</td></tr><tr><td style="vertical-align:top;width:43.21%;margin:0pt;padding:0pt;">2027</td><td style="vertical-align:top;width:2.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:2.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.74%;margin:0pt;padding:0pt;"> 7,125</td><td style="vertical-align:bottom;width:2.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.74%;margin:0pt;padding:0pt;"> 1,550</td><td style="vertical-align:bottom;width:2.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.89%;margin:0pt;padding:0pt;"> 8,675</td></tr><tr><td style="vertical-align:top;width:43.21%;background:#cceeff;margin:0pt;padding:0pt;">2028 and Thereafter</td><td style="vertical-align:top;width:2.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:2.4%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.74%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 8,848</td><td style="vertical-align:bottom;width:2.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.4%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.74%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 2,294</td><td style="vertical-align:bottom;width:2.4%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.4%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.89%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 11,142</td></tr><tr><td style="vertical-align:top;width:43.21%;margin:0pt;padding:0pt;">Total</td><td style="vertical-align:top;width:2.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:top;width:2.4%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.74%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 62,912</td><td style="vertical-align:bottom;width:2.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.4%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.74%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 13,470</td><td style="vertical-align:bottom;width:2.4%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.4%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.89%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 76,382</td></tr></table>

8419000

-1492000

9911000

11128000

-2013000

13141000

11117000

-2097000

13214000

8891000

-2153000

11044000

7384000

-1871000

9255000

7125000

-1550000

8675000

8848000

-2294000

11142000

62912000

-13470000

76382000

P7Y8M12D

P8Y6M

NOTE 11. IMPAIRMENT OF LONG-LIVED ASSETSThe Company assesses the impairment of long-lived assets whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The fair value of long-lived assets required to be assessed for impairment is determined on a non-recurring basis using Level 3 inputs in the fair value hierarchy. These Level 3 inputs may include, but are not limited to, executed purchase and sale agreements on specific properties, third party valuations, discounted cash flow models, and other model-based techniques.There were no impairment charges on the Company’s income property portfolio during the three months ended March 31, 2022 or 2021.

NOTE 12. OTHER ASSETSOther assets consisted of the following as of March 31, 2022 and December 31, 2021 (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:69.43%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.88%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.33%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.88%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.34%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:69.43%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:28.5%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As of</td></tr><tr><td style="vertical-align:bottom;width:69.43%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:13.21%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, 2022</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:13.22%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">December 31, 2021</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:69.43%;background:#cceeff;margin:0pt;padding:0pt;">Income Property Tenant Receivables</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.88%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.33%;background:#cceeff;margin:0pt;padding:0pt;"> 1,679</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.88%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.34%;background:#cceeff;margin:0pt;padding:0pt;"> 885</td></tr><tr><td style="vertical-align:bottom;width:69.43%;margin:0pt;padding:0pt;">Income Property Straight-line Rent Adjustment and COVID-19 Deferral Balance</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.88%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.33%;margin:0pt;padding:0pt;"> 5,597</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.88%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.34%;margin:0pt;padding:0pt;"> 5,180</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:69.43%;background:#cceeff;margin:0pt;padding:0pt;">Operating Leases - Right-of-Use Asset</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.88%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.33%;background:#cceeff;margin:0pt;padding:0pt;"> 143</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.88%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.34%;background:#cceeff;margin:0pt;padding:0pt;"> 168</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:69.43%;margin:0pt;padding:0pt;">Golf Rounds Surcharge</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.88%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.33%;margin:0pt;padding:0pt;"> 306</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.88%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.34%;margin:0pt;padding:0pt;"> 338</td></tr><tr><td style="vertical-align:top;width:69.43%;background:#cceeff;margin:0pt;padding:0pt;">Cash Flow Hedge - Interest Rate Swap</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.88%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.33%;background:#cceeff;margin:0pt;padding:0pt;"> 9,529</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.88%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.34%;background:#cceeff;margin:0pt;padding:0pt;"> 1,543</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:69.43%;margin:0pt;padding:0pt;">Infrastructure Reimbursement Receivables</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.88%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.33%;margin:0pt;padding:0pt;"> 1,087</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.88%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.34%;margin:0pt;padding:0pt;"> 1,080</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:69.43%;background:#cceeff;margin:0pt;padding:0pt;">Prepaid Expenses, Deposits, and Other</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.88%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.33%;background:#cceeff;margin:0pt;padding:0pt;"> 3,129</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.88%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.34%;background:#cceeff;margin:0pt;padding:0pt;"> 3,526</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:69.43%;margin:0pt;padding:0pt;">Due from Alpine Income Property Trust, Inc.</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.88%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.33%;margin:0pt;padding:0pt;"> 1,227</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.88%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.34%;margin:0pt;padding:0pt;"> 1,653</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:69.43%;background:#cceeff;margin:0pt;padding:0pt;">Financing Costs, Net of Accumulated Amortization </td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.88%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.33%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 430</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.88%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.34%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 524</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:69.43%;margin:0pt;padding:0pt;">Total Other Assets</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.88%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.33%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 23,127</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.88%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.34%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 14,897</td></tr></table>Income Property Straight-Line Rent Adjustment. As of March 31, 2022 and December 31, 2021, the straight-line rent adjustment includes a balance of $0.1 million of deferred rent related to the COVID-19 Pandemic. Pursuant to the interpretive guidance issued by the FASB in April 2020 on lease modifications, for leases in which deferred rent agreements were reached, the Company has continued to account for the lease concessions by recognizing the normal straight-line rental income and as the deferred rents are repaid by the tenant, the straight-line receivable will be reduced. Infrastructure Reimbursement Receivables. As of March 31, 2022 and December 31, 2021, the infrastructure reimbursement receivables were all related to the land sales within the Tomoka Town Center. The balance as of March 31, 2022 consisted of $0.8 million due from Tanger for infrastructure reimbursement to be repaid in five remaining annual installments of approximately $0.2 million each, net of a discount of $0.1 million, and $0.3 million due from Sam’s Club for infrastructure reimbursement to be repaid in three remaining annual installments of $0.1 million each, net of a discount of $0.03 million.

Other assets consisted of the following as of March 31, 2022 and December 31, 2021 (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:69.43%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.88%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.33%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.88%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.34%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:69.43%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:28.5%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As of</td></tr><tr><td style="vertical-align:bottom;width:69.43%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:13.21%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, 2022</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:13.22%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">December 31, 2021</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:69.43%;background:#cceeff;margin:0pt;padding:0pt;">Income Property Tenant Receivables</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.88%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.33%;background:#cceeff;margin:0pt;padding:0pt;"> 1,679</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.88%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.34%;background:#cceeff;margin:0pt;padding:0pt;"> 885</td></tr><tr><td style="vertical-align:bottom;width:69.43%;margin:0pt;padding:0pt;">Income Property Straight-line Rent Adjustment and COVID-19 Deferral Balance</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.88%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.33%;margin:0pt;padding:0pt;"> 5,597</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.88%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.34%;margin:0pt;padding:0pt;"> 5,180</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:69.43%;background:#cceeff;margin:0pt;padding:0pt;">Operating Leases - Right-of-Use Asset</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.88%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.33%;background:#cceeff;margin:0pt;padding:0pt;"> 143</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.88%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.34%;background:#cceeff;margin:0pt;padding:0pt;"> 168</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:69.43%;margin:0pt;padding:0pt;">Golf Rounds Surcharge</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.88%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.33%;margin:0pt;padding:0pt;"> 306</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.88%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.34%;margin:0pt;padding:0pt;"> 338</td></tr><tr><td style="vertical-align:top;width:69.43%;background:#cceeff;margin:0pt;padding:0pt;">Cash Flow Hedge - Interest Rate Swap</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.88%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.33%;background:#cceeff;margin:0pt;padding:0pt;"> 9,529</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.88%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.34%;background:#cceeff;margin:0pt;padding:0pt;"> 1,543</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:69.43%;margin:0pt;padding:0pt;">Infrastructure Reimbursement Receivables</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.88%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.33%;margin:0pt;padding:0pt;"> 1,087</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.88%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.34%;margin:0pt;padding:0pt;"> 1,080</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:69.43%;background:#cceeff;margin:0pt;padding:0pt;">Prepaid Expenses, Deposits, and Other</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.88%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.33%;background:#cceeff;margin:0pt;padding:0pt;"> 3,129</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.88%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.34%;background:#cceeff;margin:0pt;padding:0pt;"> 3,526</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:69.43%;margin:0pt;padding:0pt;">Due from Alpine Income Property Trust, Inc.</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.88%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.33%;margin:0pt;padding:0pt;"> 1,227</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.88%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.34%;margin:0pt;padding:0pt;"> 1,653</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:69.43%;background:#cceeff;margin:0pt;padding:0pt;">Financing Costs, Net of Accumulated Amortization </td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.88%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.33%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 430</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.88%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.34%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 524</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:69.43%;margin:0pt;padding:0pt;">Total Other Assets</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.88%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.33%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 23,127</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.88%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.34%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 14,897</td></tr></table>

1679000 885000

5597000

5180000

143000

168000

306000 338000

9529000

1543000

1087000 1080000 3129000 3526000 1227000 1653000 430000 524000

23127000

14897000

100000

800000 800000 5 5 200000 200000 100000 100000 300000 300000 3 3 100000 100000 30000.00 30000.00

NOTE 13. EQUITYSHELF REGISTRATIONOn April 1, 2021, the Company filed a shelf registration statement on Form S-3, relating to the registration and potential issuance of its common stock, preferred stock, debt securities, warrants, rights, and units with a maximum aggregate offering price of up to $350.0 million. The Securities and Exchange Commission declared the Form S-3 effective on April 19, 2021. ATM PROGRAMOn April 30, 2021, the Company implemented a $150.0 million “at-the-market” equity offering program (the “ATM Program”) pursuant to which the Company may sell, from time to time, shares of the Company’s common stock. During the three months ended March 31, 2022, the Company sold 43,793 shares under the ATM Program for gross proceeds of $2.9 million at a weighted average price of $65.47 per share, generating net proceeds of $2.8 million after deducting transaction fees totaling less than $0.1 million.DIVIDENDSThe Company elected to be taxed as a REIT for U.S. federal income tax purposes under the Code commencing with its taxable year ended December 31, 2020. In order to maintain its qualification as a REIT, the Company must annually distribute, at a minimum, an amount equal to 90% of its taxable income, determined without regard to the deduction for dividends paid and excluding net capital gains, and must distribute 100% of its taxable income (including net capital gains) to eliminate U.S. federal income taxes payable by the Company. Because taxable income differs from cash flow from operations due to non-cash revenues and expenses (such as depreciation and other items), in certain circumstances, the Company may generate operating cash flow in excess of its dividends, or alternatively, may need to make dividend payments in excess of operating cash flows. The following table outlines dividends declared and paid for each issuance of CTO’s stock during the three months ended March 31, 2022 and 2021 (in thousands, except per share data): <table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:40.21%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;width:3.24%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.23%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:23.45%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.23%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.23%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:23.37%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:40.21%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:3.24%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:56.54%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Three Months Ended</td></tr><tr><td style="vertical-align:bottom;width:40.21%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:3.24%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:26.69%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, 2022</td><td style="vertical-align:bottom;width:3.23%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:26.61%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, 2021</td></tr><tr><td style="vertical-align:top;width:40.21%;background:#cceeff;margin:0pt;padding:0pt;">Series A Preferred Stock </td><td style="vertical-align:bottom;width:3.24%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.23%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:23.45%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.23%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.23%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:23.37%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:40.21%;margin:0pt;padding:0pt;">Dividends</td><td style="vertical-align:bottom;width:3.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:3.23%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:23.45%;margin:0pt;padding:0pt;"> 1,195</td><td style="vertical-align:bottom;white-space:nowrap;width:3.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:3.23%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:23.37%;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:top;width:40.21%;background:#cceeff;margin:0pt;padding:0pt;">Per Share</td><td style="vertical-align:bottom;width:3.24%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:3.23%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:23.45%;background:#cceeff;margin:0pt;padding:0pt;"> 0.40</td><td style="vertical-align:bottom;white-space:nowrap;width:3.23%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:3.23%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:23.37%;background:#cceeff;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:top;width:40.21%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:3.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:3.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:23.45%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:3.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:23.37%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:40.21%;background:#cceeff;margin:0pt;padding:0pt;">Common Stock</td><td style="vertical-align:bottom;width:3.24%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.23%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:23.45%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.23%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.23%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:23.37%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:40.21%;margin:0pt;padding:0pt;">Dividends</td><td style="vertical-align:bottom;width:3.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:3.23%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:23.45%;margin:0pt;padding:0pt;"> 6,417</td><td style="vertical-align:bottom;white-space:nowrap;width:3.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:3.23%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:23.37%;margin:0pt;padding:0pt;"> 5,929</td></tr><tr><td style="vertical-align:top;width:40.21%;background:#cceeff;margin:0pt;padding:0pt;">Per Share </td><td style="vertical-align:bottom;width:3.24%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:3.23%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:23.45%;background:#cceeff;margin:0pt;padding:0pt;"> 1.08</td><td style="vertical-align:bottom;white-space:nowrap;width:3.23%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:3.23%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:23.37%;background:#cceeff;margin:0pt;padding:0pt;"> 1.00</td></tr></table>2025 NOTESEffective January 1, 2022, the Company adopted ASU 2020-06 whereby diluted EPS includes the dilutive impact of the 2025 Notes (hereinafter defined) using the if-converted method. Upon adoption, the Company recorded a $7.0 million adjustment to reduce additional paid-in capital to eliminate the non-cash equity component of the 2025 Notes with corresponding offsets including (i) a $4.0 million cumulative effect adjustment to the opening balance of retained earnings and (ii) a $3.0 million adjustment to eliminate the non-cash portion of the convertible notes discount, net of accumulated amortization (the “2025 Notes Adjustment”). The 2025 Notes Adjustment was made on January 1, 2022 and is reflected in the accompanying consolidated statements of stockholders’ equity.

350000000.0

150000000.0

43793

2900000

65.47

2800000

100000

The following table outlines dividends declared and paid for each issuance of CTO’s stock during the three months ended March 31, 2022 and 2021 (in thousands, except per share data): <table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:40.21%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;width:3.24%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.23%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:23.45%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.23%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.23%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:23.37%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:40.21%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:3.24%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:56.54%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Three Months Ended</td></tr><tr><td style="vertical-align:bottom;width:40.21%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:3.24%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:26.69%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, 2022</td><td style="vertical-align:bottom;width:3.23%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:26.61%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, 2021</td></tr><tr><td style="vertical-align:top;width:40.21%;background:#cceeff;margin:0pt;padding:0pt;">Series A Preferred Stock </td><td style="vertical-align:bottom;width:3.24%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.23%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:23.45%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.23%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.23%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:23.37%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:40.21%;margin:0pt;padding:0pt;">Dividends</td><td style="vertical-align:bottom;width:3.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:3.23%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:23.45%;margin:0pt;padding:0pt;"> 1,195</td><td style="vertical-align:bottom;white-space:nowrap;width:3.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:3.23%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:23.37%;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:top;width:40.21%;background:#cceeff;margin:0pt;padding:0pt;">Per Share</td><td style="vertical-align:bottom;width:3.24%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:3.23%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:23.45%;background:#cceeff;margin:0pt;padding:0pt;"> 0.40</td><td style="vertical-align:bottom;white-space:nowrap;width:3.23%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:3.23%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:23.37%;background:#cceeff;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:top;width:40.21%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:3.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:3.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:23.45%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:3.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:23.37%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:40.21%;background:#cceeff;margin:0pt;padding:0pt;">Common Stock</td><td style="vertical-align:bottom;width:3.24%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.23%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:23.45%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.23%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.23%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:23.37%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:40.21%;margin:0pt;padding:0pt;">Dividends</td><td style="vertical-align:bottom;width:3.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:3.23%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:23.45%;margin:0pt;padding:0pt;"> 6,417</td><td style="vertical-align:bottom;white-space:nowrap;width:3.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:3.23%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:23.37%;margin:0pt;padding:0pt;"> 5,929</td></tr><tr><td style="vertical-align:top;width:40.21%;background:#cceeff;margin:0pt;padding:0pt;">Per Share </td><td style="vertical-align:bottom;width:3.24%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:3.23%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:23.45%;background:#cceeff;margin:0pt;padding:0pt;"> 1.08</td><td style="vertical-align:bottom;white-space:nowrap;width:3.23%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:3.23%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:23.37%;background:#cceeff;margin:0pt;padding:0pt;"> 1.00</td></tr></table>

1195000

0.40

6417000

5929000

1.08

1.00

7000000.0

4000000.0

3000000.0

NOTE 14. COMMON STOCK AND EARNINGS PER SHAREBasic earnings per common share is computed by dividing net income attributable to common stockholders during the period by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per common share is based on the assumption of the conversion of stock options and vesting of restricted stock at the beginning of each period using the treasury stock method at average cost for the periods. Effective as of January 1, 2022, diluted earnings per common share also reflects the 2025 Notes on an if-converted basis. The following is a reconciliation of basic and diluted earnings per common share for each of the periods presented (in thousands, except share and per share data): <table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:71.29%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.46%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.81%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.81%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:71.29%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:26.64%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Three Months Ended</td></tr><tr><td style="vertical-align:bottom;width:71.29%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:12.28%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, 2022</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:12.3%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, 2021</td></tr><tr><td style="vertical-align:top;width:71.29%;margin:0pt;padding:0pt;">Basic and Diluted Earnings:</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.81%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.81%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:71.29%;background:#cceeff;margin:0pt;padding:0pt;">Net Income (Loss) Attributable to Common Stockholders, Used in Basic EPS</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.46%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.81%;background:#cceeff;margin:0pt;padding:0pt;"> (993)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.81%;background:#cceeff;margin:0pt;padding:0pt;"> 7,785</td></tr><tr><td style="vertical-align:top;width:71.29%;margin:0pt;padding:0pt;">Add Back: Effect of Dilutive Interest Related to 2025 Notes (1)</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.46%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.81%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.81%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:bottom;width:71.29%;background:#cceeff;margin:0pt;padding:0pt;">Net Income (Loss) Attributable to Common Stockholders, Used in Diluted EPS</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.46%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.81%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> (993)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.81%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 7,785</td></tr><tr><td style="vertical-align:top;width:71.29%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.81%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.81%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:71.29%;background:#cceeff;margin:0pt;padding:0pt;">Basic and Diluted Shares:</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.46%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.81%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.81%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:71.29%;margin:0pt;padding:0pt;">Weighted Average Shares Outstanding, Basic</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.81%;margin:0pt;padding:0pt;"> 5,908,892</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.81%;margin:0pt;padding:0pt;"> 5,879,085</td></tr><tr><td style="vertical-align:top;width:71.29%;background:#cceeff;margin:0pt;padding:0pt;">Common Shares Applicable to Dilutive Effect of 2025 Notes (2)</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.46%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.81%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.81%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:top;width:71.29%;margin:0pt;padding:0pt;">Weighted Average Shares Outstanding, Diluted</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.46%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.81%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 5,908,892</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.81%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 5,879,085</td></tr><tr><td style="vertical-align:top;width:71.29%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.46%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.81%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.81%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:71.29%;margin:0pt;padding:0pt;">Per Share Information:</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.81%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.81%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:71.29%;background:#cceeff;margin:0pt;padding:0pt;">Net Income (Loss) Attributable to Common Stockholders</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.46%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.81%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.81%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:71.29%;margin:0pt;padding:0pt;">Basic and Diluted</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.46%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.81%;margin:0pt;padding:0pt;"> (0.17)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.81%;margin:0pt;padding:0pt;"> 1.32</td></tr></table><div style="font-family:'Times New Roman','Times','serif';font-size:10.0pt;margin-bottom:0pt;margin-top:0pt;min-height:1.19em;position:relative;width:100%;"><div style="background-color:#000000;height:1.5pt;position:relative;top:0.6em;width:25.0%;border:none;margin:0 auto 0 0;"/></div><table style="border-collapse:collapse;border:0;"><tr><td style="vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(1)</td><td style="padding:0pt;">As applicable, includes interest expense, amortization of discount, amortization of fees, and other changes in net income or loss that would result from the assumed conversion. For the three months ended March 31, 2022, a total of $0.6 million was not included, as the impact of the 2025 Notes (hereinafter defined), if-converted, would be antidilutive due to the net loss of $1.0 million.</td></tr></table><table style="border-collapse:collapse;border:0;"><tr><td style="vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(2)</td><td style="padding:0pt;">A total of 1.0 million shares representing the dilutive impact of the Company’s 2025 Notes (hereinafter defined), upon adoption of ASU 2020-06 effective January 1, 2022, were not included in the computation of diluted net income (loss) attributable to common stockholders for the three months ended March 31, 2022 because they were antidilutive due to the net loss of $1.0 million.</td></tr></table>There were no potentially dilutive securities for the three months ended March 31, 2022 or 2021 related to the Company’s stock options and restricted stock. The effect of 8,259 and 19,490 potentially dilutive stock options and restricted stock units were not included for the three months ended March 31, 2022 and 2021, respectively, as the effect would be anti-dilutive.Effective January 1, 2022, the Company adopted ASU 2020-06 whereby diluted EPS includes the dilutive impact, if any, of the 2025 Notes (hereinafter defined) using the if-converted method, irrespective of intended cash settlement. The Company intends to settle its 3.875% Convertible Senior Notes due 2025 (the “2025 Notes”) in cash upon conversion with any excess conversion value to be settled in shares of our common stock. The Company elected, upon adoption, to utilize the modified retrospective approach, negating the required restatement of EPS for periods prior to adoption. The Company overcame the presumption of share settlement prior to the adoption of ASU 2020-06, and therefore, there was no dilutive impact for the year ended December 31, 2021. The effect of 1.0 million potentially dilutive 2025 Notes, if-converted, were not included for the three months ended March 31, 2022, as the effect would be anti-dilutive.

The following is a reconciliation of basic and diluted earnings per common share for each of the periods presented (in thousands, except share and per share data): <table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:71.29%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.46%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.81%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.81%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:71.29%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:26.64%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Three Months Ended</td></tr><tr><td style="vertical-align:bottom;width:71.29%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:12.28%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, 2022</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:12.3%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, 2021</td></tr><tr><td style="vertical-align:top;width:71.29%;margin:0pt;padding:0pt;">Basic and Diluted Earnings:</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.81%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.81%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:71.29%;background:#cceeff;margin:0pt;padding:0pt;">Net Income (Loss) Attributable to Common Stockholders, Used in Basic EPS</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.46%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.81%;background:#cceeff;margin:0pt;padding:0pt;"> (993)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.81%;background:#cceeff;margin:0pt;padding:0pt;"> 7,785</td></tr><tr><td style="vertical-align:top;width:71.29%;margin:0pt;padding:0pt;">Add Back: Effect of Dilutive Interest Related to 2025 Notes (1)</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.46%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.81%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.81%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:bottom;width:71.29%;background:#cceeff;margin:0pt;padding:0pt;">Net Income (Loss) Attributable to Common Stockholders, Used in Diluted EPS</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.46%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.81%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> (993)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.81%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 7,785</td></tr><tr><td style="vertical-align:top;width:71.29%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.81%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.81%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:71.29%;background:#cceeff;margin:0pt;padding:0pt;">Basic and Diluted Shares:</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.46%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.81%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.81%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:71.29%;margin:0pt;padding:0pt;">Weighted Average Shares Outstanding, Basic</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.81%;margin:0pt;padding:0pt;"> 5,908,892</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.81%;margin:0pt;padding:0pt;"> 5,879,085</td></tr><tr><td style="vertical-align:top;width:71.29%;background:#cceeff;margin:0pt;padding:0pt;">Common Shares Applicable to Dilutive Effect of 2025 Notes (2)</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.46%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.81%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.81%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:top;width:71.29%;margin:0pt;padding:0pt;">Weighted Average Shares Outstanding, Diluted</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.46%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.81%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 5,908,892</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.81%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 5,879,085</td></tr><tr><td style="vertical-align:top;width:71.29%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.46%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.81%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.81%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:71.29%;margin:0pt;padding:0pt;">Per Share Information:</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.81%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.81%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:71.29%;background:#cceeff;margin:0pt;padding:0pt;">Net Income (Loss) Attributable to Common Stockholders</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.46%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.81%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.81%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:71.29%;margin:0pt;padding:0pt;">Basic and Diluted</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.46%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.81%;margin:0pt;padding:0pt;"> (0.17)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.81%;margin:0pt;padding:0pt;"> 1.32</td></tr></table><div style="font-family:'Times New Roman','Times','serif';font-size:10.0pt;margin-bottom:0pt;margin-top:0pt;min-height:1.19em;position:relative;width:100%;"><div style="background-color:#000000;height:1.5pt;position:relative;top:0.6em;width:25.0%;border:none;margin:0 auto 0 0;"/></div><table style="border-collapse:collapse;border:0;"><tr><td style="vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(1)</td><td style="padding:0pt;">As applicable, includes interest expense, amortization of discount, amortization of fees, and other changes in net income or loss that would result from the assumed conversion. For the three months ended March 31, 2022, a total of $0.6 million was not included, as the impact of the 2025 Notes (hereinafter defined), if-converted, would be antidilutive due to the net loss of $1.0 million.</td></tr></table><table style="border-collapse:collapse;border:0;"><tr><td style="vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(2)</td><td style="padding:0pt;">A total of 1.0 million shares representing the dilutive impact of the Company’s 2025 Notes (hereinafter defined), upon adoption of ASU 2020-06 effective January 1, 2022, were not included in the computation of diluted net income (loss) attributable to common stockholders for the three months ended March 31, 2022 because they were antidilutive due to the net loss of $1.0 million.</td></tr></table>

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7785000

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7785000

5908892

5879085

5908892

5879085

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600000

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8259

19490

0.03875

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10000000.0

40553

2200000

54.48

10000000.0

3700000

NOTE 16. LONG-TERM DEBTAs of March 31, 2022, long-term debt, at face value, totaled $299.8 million, which was comprised of (i) $66.0 million outstanding under our revolving credit facility (the “Credit Facility”), (ii) the $65.0 million term loan (the “2026 Term Loan”), (iii) the $100.0 million term loan (the “2027 Term Loan”), (iv) the $17.8 million fixed-rate mortgage note assumed in connection with the acquisition of Price Plaza Shopping Center during the three months ended March 31, 2022, and (v) the $51.0 million principal amount of 2025 Notes. The long-term debt, at face value, of $299.8 million at March 31, 2022, represented an increase of $16.8 million from the balance of $283.0 million at December 31, 2021. The $16.8 million increase in long-term debt was due to the impact of (i) the net repayments on the Credit Facility totaling $1.0 million and (ii) the assumption of the $17.8 million fixed-rate mortgage note in connection with the acquisition of Price Plaza Shopping Center.As of March 31, 2022, the Company’s outstanding indebtedness, at face value, was as follows (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100.14%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:41.89%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.16%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.16%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.72%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.72%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:17.69%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:41.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.16%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:15.88%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Face Value Debt</td><td style="vertical-align:bottom;width:2.16%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:15.88%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Maturity Date</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:19.85%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Interest Rate</td></tr><tr><td style="vertical-align:bottom;width:41.89%;background:#cceeff;margin:0pt;padding:0pt;">Credit Facility </td><td style="vertical-align:bottom;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.72%;background:#cceeff;margin:0pt;padding:0pt;"> 66,000</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:15.88%;background:#cceeff;margin:0pt;padding:0pt;">May 2023</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:17.69%;background:#cceeff;margin:0pt;padding:0pt;">30-day LIBOR + [1.35% - 1.95%]</td></tr><tr><td style="vertical-align:bottom;width:41.89%;margin:0pt;padding:0pt;">2026 Term Loan (1) </td><td style="vertical-align:bottom;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.72%;margin:0pt;padding:0pt;"> 65,000</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:15.88%;margin:0pt;padding:0pt;">March 2026</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:17.69%;margin:0pt;padding:0pt;">30-day LIBOR + [1.35% - 1.95%]</td></tr><tr><td style="vertical-align:bottom;width:41.89%;background:#cceeff;margin:0pt;padding:0pt;">2027 Term Loan (2) </td><td style="vertical-align:bottom;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.72%;background:#cceeff;margin:0pt;padding:0pt;"> 100,000</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:15.88%;background:#cceeff;margin:0pt;padding:0pt;">January 2027</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:17.69%;background:#cceeff;margin:0pt;padding:0pt;">30-day LIBOR + [1.35% - 1.95%]</td></tr><tr><td style="vertical-align:bottom;width:41.89%;margin:0pt;padding:0pt;">3.875% Convertible Senior Notes due 2025</td><td style="vertical-align:bottom;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.72%;margin:0pt;padding:0pt;"> 51,034</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:15.88%;margin:0pt;padding:0pt;">April 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.69%;margin:0pt;padding:0pt;">3.875%</td></tr><tr><td style="vertical-align:bottom;width:41.89%;background:#cceeff;margin:0pt;padding:0pt;">Mortgage Note Payable</td><td style="vertical-align:bottom;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.16%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.72%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 17,800</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:15.88%;background:#cceeff;margin:0pt;padding:0pt;">August 2026</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.69%;background:#cceeff;margin:0pt;padding:0pt;">4.060%</td></tr><tr><td style="vertical-align:bottom;width:41.89%;margin:0pt;padding:0pt;">Total Long-Term Face Value Debt</td><td style="vertical-align:bottom;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.16%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.72%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 299,834</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.72%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.69%;margin:0pt;padding:0pt;"></td></tr></table><div style="font-family:'Times New Roman','Times','serif';font-size:10.0pt;margin-bottom:0pt;margin-top:0pt;min-height:1.19em;position:relative;width:100%;"><div style="background-color:#000000;height:1.5pt;position:relative;top:0.6em;width:25.0%;border:none;margin:0 auto 0 0;"/></div>(1) The Company utilized interest rate swaps on the $65.0 million 2026 Term Loan balance, including (i) its redesignation of the existing $50.0 million interest rate swap, entered into as of August 31, 2020, and (ii) a $15.0 million interest rate swap effective August 31, 2021, to fix LIBOR and achieve a weighted average fixed interest rate of 0.35% plus the applicable spread (see Note 17, “Interest Rate Swaps” for further disclosure related to the Company’s interest rate swaps).<table style="border-collapse:collapse;border:0;"><tr><td style="vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(2)</td><td style="padding:0pt;">Effective November 5, 2021 the Company redesignated the interest rate swap, entered into as of March 31, 2020, to fix LIBOR and achieve a fixed interest rate of 0.73% plus the applicable spread on the $100.0 million 2027 Term Loan balance (see Note 17, “Interest Rate Swaps” for further disclosure related to the Company’s interest rate swaps).</td></tr></table>Credit Facility. The Credit Facility, with Bank of Montreal (“BMO”) as the administrative agent for the lenders thereunder, is unsecured with regard to our income property portfolio but is guaranteed by certain wholly owned subsidiaries of the Company. The Credit Facility bank group is led by BMO and also includes Truist Bank and Wells Fargo. On September 7, 2017, the Company executed the second amendment and restatement of the Credit Facility (the “2017 Amended Credit Facility”). As a result of the March 2021 Revolver Amendment, as defined below, The Huntington National Bank was added as a lender to the Company’s Credit Facility.On May 24, 2019, the Company executed the second amendment to the 2017 Amended Credit Facility (the “May 2019 Revolver Amendment”). As a result of the May 2019 Revolver Amendment, the Credit Facility had a total borrowing capacity of $200.0 million with the ability to increase that capacity up to $300.0 million during the term, subject to lender approval. The Credit Facility provides the lenders with a security interest in the equity of the Company subsidiaries that own the properties included in the borrowing base. The indebtedness outstanding under the Credit Facility accrues interest at a rate ranging from the 30-day LIBOR plus 135 basis points to the 30-day LIBOR plus 195 basis points based on the total balance outstanding under the Credit Facility as a percentage of the total asset value of the Company, as defined in the 2017 Amended Credit Facility, as amended by the May 2019 Revolver Amendment. The Credit Facility also accrues a fee of 15 to 25 basis points for any unused portion of the borrowing capacity based on whether the unused portion is greater or less than 50% of the total borrowing capacity. Pursuant to the May 2019 Revolver Amendment, the Credit Facility matures on May 24, 2023, with the ability to extend the term for 1 year.On November 26, 2019, the Company entered into the third amendment to the 2017 Amended Credit Facility (the “November 2019 Revolver Amendment”), which further amends the 2017 Amended Credit Facility. The November 2019 Revolver Amendment included, among other things, an adjustment of certain financial maintenance covenants, including a temporary reduction of the minimum fixed charge coverage ratio to allow the Company to redeploy the proceeds received from the sale of certain income properties to PINE, and an increase in the maximum amount the Company may invest in stock and stock equivalents of real estate investment trusts to allow the Company to invest in PINE’s common stock and OP Units. On July 1, 2020, the Company entered into the fourth amendment to the 2017 Amended Credit Facility (the “July 2020 Revolver Amendment”) whereby the tangible net worth covenant was adjusted to be more reflective of market terms. The July 2020 Revolver Amendment was effective as of March 31, 2020.On November 12, 2020, the Company entered into the fifth amendment to the 2017 Amended Credit Facility (the “November 2020 Revolver Amendment”). The November 2020 Revolver Amendment provided that, among other things, (i) the Company must comply with certain adjusted additional financial maintenance requirements, including (x) a new restricted payments covenant which limits the type and amount of cash distributions that may be made by the Company and (y) an adjusted fix charges ratio, which now excludes certain onetime expenses for purposes of calculation and (ii) the Company must, from and after the date that the Company elects to qualify as a REIT, maintain its status as a REIT. On March 10, 2021, the Company entered into the sixth amendment to the 2017 Amended Credit Facility (the “March 2021 Revolver Amendment”). The March 2021 Revolver Amendment included, among other things, (i) increase of the revolving credit commitment from $200.0 million to $210.0 million, (ii) addition of the 2026 Term Loan in the aggregate amount of $50.0 million, (iii) updates to certain financing rate provisions provided therein, and (iv) joinder of The Huntington National Bank as a 2026 Term Loan lender and Credit Facility lender. The March 2021 Revolver Amendment also includes accordion options that allow the Company to request additional 2026 Term Loan lender commitments up to a total of $150.0 million and additional Credit Facility lender commitments up to a total of $300.0 million. During the three months ended June 30, 2021, the Company exercised the 2026 Term Loan accordion option for $15.0 million, increasing total lender commitments to $65.0 million.On November 5, 2021, the Company entered into the seventh amendment to the 2017 Amended Credit Facility (the “November 2021 Revolver Amendment”). The November 2021 Revolver Amendment included, among other things, (i) addition of the 2027 Term Loan in the aggregate amount of $100.0 million and (ii) joinder of KeyBank National Association, Raymond James Bank, and Synovus Bank as 2027 Term Loan lenders. The November 2021 Revolver Amendment also includes an accordion option that allows the Company to request additional term loan lender commitments up to a total of $400.0 million in the aggregate. At March 31, 2022, the current commitment level under the Credit Facility was $210.0 million. The undrawn commitment under the Credit Facility totaled $144.0 million. As of March 31, 2022, the Credit Facility had a $66.0 million balance outstanding. The Credit Facility is subject to customary restrictive covenants including, but not limited to, limitations on the Company’s ability to: (a) incur indebtedness; (b) make certain investments; (c) incur certain liens; (d) engage in certain affiliate transactions; and (e) engage in certain major transactions such as mergers. In addition, the Company is subject to various financial maintenance covenants including, but not limited to, a maximum indebtedness ratio, a maximum secured indebtedness ratio, and a minimum fixed charge coverage ratio. The Credit Facility also contains affirmative covenants and events of default including, but not limited to, a cross default to the Company’s other indebtedness and upon the occurrence of a change in control. The Company’s failure to comply with these covenants or the occurrence of an event of default could result in acceleration of the Company’s debt and other financial obligations under the Credit Facility.Mortgage Notes Payable. On March 3, 2022, in connection with the acquisition of Price Plaza Shopping Center, the Company assumed an existing $17.8 million secured fixed-rate mortgage note payable, which bears interest at a fixed rate of 4.06% and matures in August 2026.Convertible Debt. The Company’s $75.0 million aggregate principal amount of 4.50% Convertible Notes (the “2020 Notes”) were scheduled to mature on March 15, 2020; however, the Company completed the Note Exchanges, hereinafter defined, on February 4, 2020. The initial conversion rate was 14.5136 shares of common stock for each $1,000 principal amount of the 2020 Notes, which represented an initial conversion price of $68.90 per share of common stock. On February 4, 2020, the Company closed privately negotiated exchange agreements with certain holders of its outstanding 2020 Notes pursuant to which the Company issued $57.4 million principal amount of the 2025 Notes in exchange for $57.4 million principal amount of the 2020 Notes (the “Note Exchanges”). In addition, the Company closed a privately negotiated purchase agreement with an investor, who had not invested in the 2020 Notes, and issued $17.6 million principal amount of the 2025 Notes (the “New Notes Placement,” and together with the Note Exchanges, the “Convert Transactions”). The Company used $5.9 million of the proceeds from the New Notes Placement to repurchase $5.9 million of the 2020 Notes. As a result of the Convert Transactions there was a total of $75.0 million aggregate principal amount of 2025 Notes outstanding. In exchange for issuing the 2025 Notes pursuant to the Note Exchanges, the Company received and cancelled the exchanged 2020 Notes. The $11.7 million of net proceeds from the New Notes Placement were used to redeem at maturity on March 15, 2020 $11.7 million of the aggregate principal amount of the 2020 Notes that remained outstanding. During the year ended December 31, 2020, the Company repurchased $12.5 million aggregate principal amount of 2025 Notes at a $2.6 million discount, resulting in a gain on extinguishment of debt of $1.1 million. All such repurchases were made during first and second quarter of 2020. During the year ended December 31, 2021, the Company repurchased $11.4 million aggregate principal amount of 2025 Notes at a $1.6 million premium, resulting in a loss on extinguishment of debt of $2.9 million. Following these repurchases, $51.0 million aggregate principal amount of the 2025 Notes remains outstanding at March 31, 2022. The 2025 Notes represent senior unsecured obligations of the Company and pay interest semi-annually in arrears on each April 15th and October 15th, commencing on April 15, 2020, at a rate of 3.875% per annum. The 2025 Notes mature on April 15, 2025 and may not be redeemed by the Company prior to the maturity date. The conversion rate for the 2025 Notes was initially 12.7910 shares of the Company’s common stock per $1,000 of principal of the 2025 Notes (equivalent to an initial conversion price of $78.18 per share of the Company’s common stock). The initial conversion price of the 2025 Notes represented a premium of 20% to the $65.15 closing sale price of the Company’s common stock on the NYSE American on January 29, 2020. If the Company’s Board increases the quarterly dividend above the $0.13 per share in place at issuance, the conversion rate is adjusted with each such increase in the quarterly dividend amount. After the first quarter 2022 dividend, the conversion rate is equal to 19.7377 shares of common stock for each $1,000 principal amount of 2025 Notes, which represents an adjusted conversion price of $50.66 per share of common stock. At the maturity date, the 2025 Notes are convertible into cash, common stock or a combination thereof, subject to various conditions, at the Company’s option. Should certain corporate transactions or events occur prior to the stated maturity date, the Company will increase the conversion rate for a holder that elects to convert its 2025 Notes in connection with such corporate transaction or event. The conversion rate is subject to adjustment in certain circumstances. Holders may not surrender their 2025 Notes for conversion prior to January 15, 2025 except upon the occurrence of certain conditions relating to the closing sale price of the Company’s common stock, the trading price per $1,000 principal amount of 2025 Notes, or specified corporate events including a change in control of the Company. The Company may not redeem the 2025 Notes prior to the stated maturity date and no sinking fund is provided for the 2025 Notes. The 2025 Notes are convertible, at the election of the Company, into solely cash, solely shares of the Company’s common stock, or a combination of cash and shares of the Company’s common stock. The Company intends to settle the 2025 Notes in cash upon conversion, with any excess conversion value to be settled in shares of our common stock. At time of issuance, in accordance with U.S. GAAP, the 2025 Notes were accounted for as a liability with a separate equity component recorded for the conversion option. The equity component was eliminated on January 1, 2022 with the 2025 Notes Adjustment. As of March 31, 2022, the unamortized debt discount of our 2025 Notes was $0.5 million, which represents the cash component of the discount.Long-term debt consisted of the following (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:43.46%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.72%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.43%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.43%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.72%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.43%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.41%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:43.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:26.37%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, 2022</td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:26.37%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">December 31, 2021</td></tr><tr><td style="vertical-align:bottom;width:43.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:12.15%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Total</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:12.15%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Due Within One Year</td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:12.15%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Total</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:12.15%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Due Within One Year</td></tr><tr><td style="vertical-align:top;width:43.46%;background:#cceeff;margin:0pt;padding:0pt;">Credit Facility</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.43%;background:#cceeff;margin:0pt;padding:0pt;"> 66,000</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.43%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.43%;background:#cceeff;margin:0pt;padding:0pt;"> 67,000</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.41%;background:#cceeff;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:top;width:43.46%;margin:0pt;padding:0pt;">2026 Term Loan</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.72%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.43%;margin:0pt;padding:0pt;"> 65,000</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.43%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.72%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.43%;margin:0pt;padding:0pt;"> 65,000</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.41%;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:top;width:43.46%;background:#cceeff;margin:0pt;padding:0pt;">2027 Term Loan</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.43%;background:#cceeff;margin:0pt;padding:0pt;"> 100,000</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.43%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.43%;background:#cceeff;margin:0pt;padding:0pt;"> 100,000</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.41%;background:#cceeff;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:top;width:43.46%;margin:0pt;padding:0pt;">3.875% Convertible Senior Notes, net of Discount</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.72%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.43%;margin:0pt;padding:0pt;"> 50,551</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.43%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.72%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.43%;margin:0pt;padding:0pt;"> 47,469</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.41%;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:top;width:43.46%;background:#cceeff;margin:0pt;padding:0pt;">Mortgage Note Payable</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.43%;background:#cceeff;margin:0pt;padding:0pt;"> 17,800</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.43%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.43%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.41%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:43.46%;margin:0pt;padding:0pt;">Financing Costs, net of Accumulated Amortization</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.72%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.43%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (1,272)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.43%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.72%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.43%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (1,196)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.41%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:top;width:43.46%;background:#cceeff;margin:0pt;padding:0pt;">Total Long-Term Debt</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.72%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.43%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 298,079</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.43%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.72%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.43%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 278,273</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.41%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> —</td></tr></table>Payments applicable to reduction of principal amounts as of March 31, 2022 will be required as follows (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:75.52%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:3.12%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:3.12%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:18.23%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:75.52%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As of March 31, 2022</td><td style="vertical-align:bottom;width:3.12%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:21.35%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Amount</td></tr><tr><td style="vertical-align:bottom;width:75.52%;background:#cceeff;margin:0pt;padding:0pt;">Remainder of 2022</td><td style="vertical-align:bottom;width:3.12%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:3.12%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:18.23%;background:#cceeff;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:75.52%;margin:0pt;padding:0pt;">2023</td><td style="vertical-align:bottom;width:3.12%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.12%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:18.23%;margin:0pt;padding:0pt;"> 66,000</td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:75.52%;background:#cceeff;margin:0pt;padding:0pt;">2024</td><td style="vertical-align:bottom;white-space:nowrap;width:3.12%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.12%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:18.23%;background:#cceeff;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:75.52%;margin:0pt;padding:0pt;">2025</td><td style="vertical-align:bottom;white-space:nowrap;width:3.12%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:3.12%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:18.23%;margin:0pt;padding:0pt;"> 51,034</td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:75.52%;background:#cceeff;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:nowrap;width:3.12%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:3.12%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:18.23%;background:#cceeff;margin:0pt;padding:0pt;"> 82,800</td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:75.52%;margin:0pt;padding:0pt;">2027</td><td style="vertical-align:bottom;white-space:nowrap;width:3.12%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:3.12%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:18.23%;margin:0pt;padding:0pt;"> 100,000</td></tr><tr><td style="vertical-align:top;width:75.52%;background:#cceeff;margin:0pt;padding:0pt;">2028 and Thereafter</td><td style="vertical-align:bottom;white-space:nowrap;width:3.12%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:3.12%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:18.23%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:top;width:75.52%;margin:0pt;padding:0pt;">Total Long-Term Debt - Face Value</td><td style="vertical-align:bottom;white-space:nowrap;width:3.12%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:3.12%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:18.23%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 299,834</td></tr></table>The carrying value of long-term debt as of March 31, 2022 consisted of the following (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:75.52%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;width:3.12%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:3.12%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:18.23%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:75.52%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:3.12%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:21.35%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Total</td></tr><tr><td style="vertical-align:top;width:75.52%;background:#cceeff;margin:0pt;padding:0pt;">Current Face Amount</td><td style="vertical-align:bottom;width:3.12%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:3.12%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:18.23%;background:#cceeff;margin:0pt;padding:0pt;"> 299,834</td></tr><tr><td style="vertical-align:top;width:75.52%;margin:0pt;padding:0pt;">Unamortized Discount on Convertible Debt</td><td style="vertical-align:bottom;width:3.12%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:3.12%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:18.23%;margin:0pt;padding:0pt;"> (483)</td></tr><tr><td style="vertical-align:top;width:75.52%;background:#cceeff;margin:0pt;padding:0pt;">Financing Costs, net of Accumulated Amortization</td><td style="vertical-align:bottom;width:3.12%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:3.12%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:18.23%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (1,272)</td></tr><tr><td style="vertical-align:top;width:75.52%;margin:0pt;padding:0pt;">Total Long-Term Debt</td><td style="vertical-align:bottom;width:3.12%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:3.12%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:18.23%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 298,079</td></tr></table>In addition to the $1.3 million of financing costs, net of accumulated amortization included in the table above, as of March 31, 2022, the Company also had financing costs, net of accumulated amortization related to the Credit Facility of $0.4 million which is included in other assets on the consolidated balance sheets. These costs are amortized on a straight-line basis over the term of the Credit Facility and are included in interest expense in the Company’s accompanying consolidated statements of operations. The following table reflects a summary of interest expense incurred and paid during the three months ended March 31, 2022 and 2021 (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:60.65%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.51%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.52%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:14.64%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.52%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.52%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:14.61%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:60.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.51%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:36.83%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Three Months Ended</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:60.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.51%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:17.16%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, 2022</td><td style="vertical-align:bottom;white-space:nowrap;width:2.52%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:17.14%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, 2021</td></tr><tr><td style="vertical-align:top;width:60.65%;background:#cceeff;margin:0pt;padding:0pt;">Interest Expense</td><td style="vertical-align:bottom;width:2.51%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.52%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.64%;background:#cceeff;margin:0pt;padding:0pt;"> 1,668</td><td style="vertical-align:bottom;white-space:nowrap;width:2.52%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.52%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.61%;background:#cceeff;margin:0pt;padding:0pt;"> 1,969</td></tr><tr><td style="vertical-align:top;width:60.65%;margin:0pt;padding:0pt;">Amortization of Deferred Financing Costs </td><td style="vertical-align:bottom;width:2.51%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.52%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.64%;margin:0pt;padding:0pt;"> 165</td><td style="vertical-align:bottom;white-space:nowrap;width:2.52%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.52%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.61%;margin:0pt;padding:0pt;"> 165</td></tr><tr><td style="vertical-align:top;width:60.65%;background:#cceeff;margin:0pt;padding:0pt;">Amortization of Discount on Convertible Notes</td><td style="vertical-align:bottom;width:2.51%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.52%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.64%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 69</td><td style="vertical-align:bottom;white-space:nowrap;width:2.52%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.52%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.61%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 310</td></tr><tr><td style="vertical-align:top;width:60.65%;margin:0pt;padding:0pt;">Total Interest Expense</td><td style="vertical-align:bottom;width:2.51%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.52%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.64%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 1,902</td><td style="vertical-align:bottom;white-space:nowrap;width:2.52%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.52%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.61%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 2,444</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:60.65%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.51%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.52%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.52%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.52%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.61%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:60.65%;margin:0pt;padding:0pt;">Total Interest Paid</td><td style="vertical-align:bottom;width:2.51%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.52%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.64%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 1,087</td><td style="vertical-align:bottom;white-space:nowrap;width:2.52%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.52%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.61%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 1,395</td></tr></table>The Company was in compliance with all of its debt covenants as of March 31, 2022 and December 31, 2021.

299800000

66000000.0

65000000.0

100000000.0

17800000

51000000.0

299800000

16800000

283000000.0

16800000

1000000.0

17800000

As of March 31, 2022, the Company’s outstanding indebtedness, at face value, was as follows (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100.14%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:41.89%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.16%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.16%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.72%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.72%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:17.69%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:41.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.16%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:15.88%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Face Value Debt</td><td style="vertical-align:bottom;width:2.16%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:15.88%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Maturity Date</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:19.85%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Interest Rate</td></tr><tr><td style="vertical-align:bottom;width:41.89%;background:#cceeff;margin:0pt;padding:0pt;">Credit Facility </td><td style="vertical-align:bottom;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.72%;background:#cceeff;margin:0pt;padding:0pt;"> 66,000</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:15.88%;background:#cceeff;margin:0pt;padding:0pt;">May 2023</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:17.69%;background:#cceeff;margin:0pt;padding:0pt;">30-day LIBOR + [1.35% - 1.95%]</td></tr><tr><td style="vertical-align:bottom;width:41.89%;margin:0pt;padding:0pt;">2026 Term Loan (1) </td><td style="vertical-align:bottom;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.72%;margin:0pt;padding:0pt;"> 65,000</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:15.88%;margin:0pt;padding:0pt;">March 2026</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:17.69%;margin:0pt;padding:0pt;">30-day LIBOR + [1.35% - 1.95%]</td></tr><tr><td style="vertical-align:bottom;width:41.89%;background:#cceeff;margin:0pt;padding:0pt;">2027 Term Loan (2) </td><td style="vertical-align:bottom;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.72%;background:#cceeff;margin:0pt;padding:0pt;"> 100,000</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:15.88%;background:#cceeff;margin:0pt;padding:0pt;">January 2027</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:17.69%;background:#cceeff;margin:0pt;padding:0pt;">30-day LIBOR + [1.35% - 1.95%]</td></tr><tr><td style="vertical-align:bottom;width:41.89%;margin:0pt;padding:0pt;">3.875% Convertible Senior Notes due 2025</td><td style="vertical-align:bottom;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.72%;margin:0pt;padding:0pt;"> 51,034</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:15.88%;margin:0pt;padding:0pt;">April 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.69%;margin:0pt;padding:0pt;">3.875%</td></tr><tr><td style="vertical-align:bottom;width:41.89%;background:#cceeff;margin:0pt;padding:0pt;">Mortgage Note Payable</td><td style="vertical-align:bottom;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.16%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.72%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 17,800</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:15.88%;background:#cceeff;margin:0pt;padding:0pt;">August 2026</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.69%;background:#cceeff;margin:0pt;padding:0pt;">4.060%</td></tr><tr><td style="vertical-align:bottom;width:41.89%;margin:0pt;padding:0pt;">Total Long-Term Face Value Debt</td><td style="vertical-align:bottom;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.16%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.72%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 299,834</td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.72%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.16%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:17.69%;margin:0pt;padding:0pt;"></td></tr></table><div style="font-family:'Times New Roman','Times','serif';font-size:10.0pt;margin-bottom:0pt;margin-top:0pt;min-height:1.19em;position:relative;width:100%;"><div style="background-color:#000000;height:1.5pt;position:relative;top:0.6em;width:25.0%;border:none;margin:0 auto 0 0;"/></div>(1) The Company utilized interest rate swaps on the $65.0 million 2026 Term Loan balance, including (i) its redesignation of the existing $50.0 million interest rate swap, entered into as of August 31, 2020, and (ii) a $15.0 million interest rate swap effective August 31, 2021, to fix LIBOR and achieve a weighted average fixed interest rate of 0.35% plus the applicable spread (see Note 17, “Interest Rate Swaps” for further disclosure related to the Company’s interest rate swaps).<table style="border-collapse:collapse;border:0;"><tr><td style="vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(2)</td><td style="padding:0pt;">Effective November 5, 2021 the Company redesignated the interest rate swap, entered into as of March 31, 2020, to fix LIBOR and achieve a fixed interest rate of 0.73% plus the applicable spread on the $100.0 million 2027 Term Loan balance (see Note 17, “Interest Rate Swaps” for further disclosure related to the Company’s interest rate swaps).</td></tr></table>

66000000

0.0135

0.0195

65000000

0.0135

0.0195

100000000

0.0135

0.0195

0.03875

51034000

0.03875

17800000

0.04060

299834000

65000000.0

50000000.0

15000000.0

0.0035

0.0073

100000000.0

200000000.0

300000000.0

0.0015

0.0025

0.50 P1Y

200000000.0

210000000.0

50000000.0

150000000.0 300000000.0

15000000.0

65000000.0

100000000.0

400000000.0

210000000.0

144000000.0

66000000.0

17800000

0.0406

75000000.0

0.0450

14.5136

1000

68.90

57400000

17600000

5900000

75000000.0

11700000

12500000

2600000

1100000

11400000

1600000

-2900000

51000000.0

0.03875

12.7910

1000

78.18

0.20

65.15

0.13

19.7377

1000

50.66

1000

500000

Long-term debt consisted of the following (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:43.46%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.72%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.43%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.43%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.72%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.43%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.41%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:43.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:26.37%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, 2022</td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:26.37%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">December 31, 2021</td></tr><tr><td style="vertical-align:bottom;width:43.46%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:12.15%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Total</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:12.15%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Due Within One Year</td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:12.15%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Total</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:12.15%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Due Within One Year</td></tr><tr><td style="vertical-align:top;width:43.46%;background:#cceeff;margin:0pt;padding:0pt;">Credit Facility</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.43%;background:#cceeff;margin:0pt;padding:0pt;"> 66,000</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.43%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.43%;background:#cceeff;margin:0pt;padding:0pt;"> 67,000</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.41%;background:#cceeff;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:top;width:43.46%;margin:0pt;padding:0pt;">2026 Term Loan</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.72%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.43%;margin:0pt;padding:0pt;"> 65,000</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.43%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.72%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.43%;margin:0pt;padding:0pt;"> 65,000</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.41%;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:top;width:43.46%;background:#cceeff;margin:0pt;padding:0pt;">2027 Term Loan</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.43%;background:#cceeff;margin:0pt;padding:0pt;"> 100,000</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.43%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.43%;background:#cceeff;margin:0pt;padding:0pt;"> 100,000</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.41%;background:#cceeff;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:top;width:43.46%;margin:0pt;padding:0pt;">3.875% Convertible Senior Notes, net of Discount</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.72%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.43%;margin:0pt;padding:0pt;"> 50,551</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.43%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.72%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.43%;margin:0pt;padding:0pt;"> 47,469</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.41%;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:top;width:43.46%;background:#cceeff;margin:0pt;padding:0pt;">Mortgage Note Payable</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.43%;background:#cceeff;margin:0pt;padding:0pt;"> 17,800</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.43%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.43%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.41%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:43.46%;margin:0pt;padding:0pt;">Financing Costs, net of Accumulated Amortization</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.72%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.43%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (1,272)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.43%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.72%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.43%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (1,196)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.41%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:top;width:43.46%;background:#cceeff;margin:0pt;padding:0pt;">Total Long-Term Debt</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.72%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.43%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 298,079</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.43%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.72%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.43%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 278,273</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.41%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> —</td></tr></table>

66000000

67000000

65000000

100000000

0.03875

50551000

47469000

17800000

1272000 1196000

298079000

278273000

66000000

51034000

82800000

100000000

299834000

The carrying value of long-term debt as of March 31, 2022 consisted of the following (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:75.52%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;width:3.12%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:3.12%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:18.23%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:75.52%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:3.12%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:21.35%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Total</td></tr><tr><td style="vertical-align:top;width:75.52%;background:#cceeff;margin:0pt;padding:0pt;">Current Face Amount</td><td style="vertical-align:bottom;width:3.12%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:3.12%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:18.23%;background:#cceeff;margin:0pt;padding:0pt;"> 299,834</td></tr><tr><td style="vertical-align:top;width:75.52%;margin:0pt;padding:0pt;">Unamortized Discount on Convertible Debt</td><td style="vertical-align:bottom;width:3.12%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:3.12%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:18.23%;margin:0pt;padding:0pt;"> (483)</td></tr><tr><td style="vertical-align:top;width:75.52%;background:#cceeff;margin:0pt;padding:0pt;">Financing Costs, net of Accumulated Amortization</td><td style="vertical-align:bottom;width:3.12%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:3.12%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:18.23%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (1,272)</td></tr><tr><td style="vertical-align:top;width:75.52%;margin:0pt;padding:0pt;">Total Long-Term Debt</td><td style="vertical-align:bottom;width:3.12%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:3.12%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:18.23%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 298,079</td></tr></table>

299834000

483000

1272000

298079000

1300000 400000 The following table reflects a summary of interest expense incurred and paid during the three months ended March 31, 2022 and 2021 (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:60.65%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.51%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.52%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:14.64%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.52%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.52%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:14.61%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:60.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.51%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:36.83%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Three Months Ended</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:60.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.51%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:17.16%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, 2022</td><td style="vertical-align:bottom;white-space:nowrap;width:2.52%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:17.14%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, 2021</td></tr><tr><td style="vertical-align:top;width:60.65%;background:#cceeff;margin:0pt;padding:0pt;">Interest Expense</td><td style="vertical-align:bottom;width:2.51%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.52%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.64%;background:#cceeff;margin:0pt;padding:0pt;"> 1,668</td><td style="vertical-align:bottom;white-space:nowrap;width:2.52%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.52%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.61%;background:#cceeff;margin:0pt;padding:0pt;"> 1,969</td></tr><tr><td style="vertical-align:top;width:60.65%;margin:0pt;padding:0pt;">Amortization of Deferred Financing Costs </td><td style="vertical-align:bottom;width:2.51%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.52%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.64%;margin:0pt;padding:0pt;"> 165</td><td style="vertical-align:bottom;white-space:nowrap;width:2.52%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.52%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.61%;margin:0pt;padding:0pt;"> 165</td></tr><tr><td style="vertical-align:top;width:60.65%;background:#cceeff;margin:0pt;padding:0pt;">Amortization of Discount on Convertible Notes</td><td style="vertical-align:bottom;width:2.51%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.52%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.64%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 69</td><td style="vertical-align:bottom;white-space:nowrap;width:2.52%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.52%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.61%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 310</td></tr><tr><td style="vertical-align:top;width:60.65%;margin:0pt;padding:0pt;">Total Interest Expense</td><td style="vertical-align:bottom;width:2.51%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.52%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.64%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 1,902</td><td style="vertical-align:bottom;white-space:nowrap;width:2.52%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.52%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.61%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 2,444</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:60.65%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.51%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.52%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.64%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.52%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.52%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.61%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:60.65%;margin:0pt;padding:0pt;">Total Interest Paid</td><td style="vertical-align:bottom;width:2.51%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.52%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.64%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 1,087</td><td style="vertical-align:bottom;white-space:nowrap;width:2.52%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.52%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.61%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 1,395</td></tr></table>

1668000

1969000

165000

69000

310000

1902000

2444000

1087000

1395000

NOTE 17. INTEREST RATE SWAPSThe Company has entered into interest rate swap agreements to hedge against changes in future cash flows resulting from fluctuating interest rates related to the below noted borrowings. The interest rate agreements were 100% effective during the three months ended March 31, 2022. Accordingly, the changes in fair value on the interest rate swaps have been classified in accumulated other comprehensive income (loss). The fair value of the interest rate swap agreements are included in other assets and accrued and other liabilities, respectively, on the consolidated balance sheets. Information related to the Company’s interest rate swap agreements are noted below (in thousands): <table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:20.11%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.74%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.13%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.26%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:24.16%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.26%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.87%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:20.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Hedged Item</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:11.13%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Effective Date</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:9.26%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Maturity Date</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:24.16%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Rate</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Amount</td><td style="vertical-align:bottom;width:1.74%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:15.61%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Fair Value as of March 31, 2022</td></tr><tr><td style="vertical-align:bottom;width:20.11%;background:#cceeff;margin:0pt;padding:0pt;">2026 Term Loan (1)</td><td style="vertical-align:bottom;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.13%;background:#cceeff;margin:0pt;padding:0pt;">3/10/2021</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.26%;background:#cceeff;margin:0pt;padding:0pt;">3/29/2024</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:24.16%;background:#cceeff;margin:0pt;padding:0pt;">0.22% + applicable spread</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.26%;background:#cceeff;margin:0pt;padding:0pt;"> 50,000</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.87%;background:#cceeff;margin:0pt;padding:0pt;"> 2,116</td></tr><tr><td style="vertical-align:bottom;width:20.11%;margin:0pt;padding:0pt;">2026 Term Loan (2)</td><td style="vertical-align:bottom;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.13%;margin:0pt;padding:0pt;">3/29/2024</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.26%;margin:0pt;padding:0pt;">3/10/2026</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:24.16%;margin:0pt;padding:0pt;">1.51% + applicable spread</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.26%;margin:0pt;padding:0pt;"> 50,000</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.87%;margin:0pt;padding:0pt;"> 868</td></tr><tr><td style="vertical-align:bottom;width:20.11%;background:#cceeff;margin:0pt;padding:0pt;">2026 Term Loan </td><td style="vertical-align:bottom;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.13%;background:#cceeff;margin:0pt;padding:0pt;">8/31/2021</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.26%;background:#cceeff;margin:0pt;padding:0pt;">3/10/2026</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:24.16%;background:#cceeff;margin:0pt;padding:0pt;">0.77% + applicable spread</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.26%;background:#cceeff;margin:0pt;padding:0pt;"> 15,000</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.87%;background:#cceeff;margin:0pt;padding:0pt;"> 929</td></tr><tr><td style="vertical-align:bottom;width:20.11%;margin:0pt;padding:0pt;">2027 Term Loan (3)</td><td style="vertical-align:bottom;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.13%;margin:0pt;padding:0pt;">11/5/2021</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.26%;margin:0pt;padding:0pt;">3/29/2024</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:24.16%;margin:0pt;padding:0pt;">0.73% + applicable spread</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.26%;margin:0pt;padding:0pt;"> 100,000</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.87%;margin:0pt;padding:0pt;"> 3,219</td></tr><tr><td style="vertical-align:bottom;width:20.11%;background:#cceeff;margin:0pt;padding:0pt;">2027 Term Loan (4)</td><td style="vertical-align:bottom;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.13%;background:#cceeff;margin:0pt;padding:0pt;">3/29/2024</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.26%;background:#cceeff;margin:0pt;padding:0pt;">1/31/2027</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:24.16%;background:#cceeff;margin:0pt;padding:0pt;">1.42% + applicable spread</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.26%;background:#cceeff;margin:0pt;padding:0pt;"> 100,000</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.87%;background:#cceeff;margin:0pt;padding:0pt;"> 2,397</td></tr></table><div style="font-family:'Times New Roman','Times','serif';font-size:10.0pt;margin-bottom:0pt;margin-top:0pt;min-height:1.19em;position:relative;width:100%;"><div style="background-color:#000000;height:1.5pt;position:relative;top:0.6em;width:25.0%;border:none;margin:0 auto 0 0;"/></div><table style="border-collapse:collapse;border:0;"><tr><td style="vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(1)</td><td style="padding:0pt;">Effective March 10, 2021, the Company redesignated the interest rate swap, entered into as of August 31, 2020, that previously hedged $50.0 million of the outstanding principal balance on the Credit Facility.</td></tr></table><table style="border-collapse:collapse;border:0;"><tr><td style="vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(2)</td><td style="padding:0pt;">The interest rate swap agreement hedges the identical $50.0 million portion of the 2026 Term Loan borrowing under different terms and commences concurrent to the interest rate agreement maturing on March 29, 2024.</td></tr></table><table style="border-collapse:collapse;border:0;"><tr><td style="vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(3)</td><td style="padding:0pt;">Effective November 5, 2021, the Company redesignated the interest rate swap, entered into as of March 31, 2020, that previously hedged $100.0 million of the outstanding principal balance on the Credit Facility.</td></tr></table><table style="border-collapse:collapse;border:0;"><tr><td style="vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(4)</td><td style="padding:0pt;">The interest rate swap agreement hedges the identical $100.0 million portion of the 2027 Term Loan borrowing under different terms and commences concurrent to the interest rate agreement maturing on March 29, 2024.</td></tr></table>

<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:20.11%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.74%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.13%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.26%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:24.16%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.26%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.87%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:20.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Hedged Item</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:11.13%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Effective Date</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:9.26%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Maturity Date</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:24.16%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Rate</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Amount</td><td style="vertical-align:bottom;width:1.74%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:15.61%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Fair Value as of March 31, 2022</td></tr><tr><td style="vertical-align:bottom;width:20.11%;background:#cceeff;margin:0pt;padding:0pt;">2026 Term Loan (1)</td><td style="vertical-align:bottom;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.13%;background:#cceeff;margin:0pt;padding:0pt;">3/10/2021</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.26%;background:#cceeff;margin:0pt;padding:0pt;">3/29/2024</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:24.16%;background:#cceeff;margin:0pt;padding:0pt;">0.22% + applicable spread</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.26%;background:#cceeff;margin:0pt;padding:0pt;"> 50,000</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.87%;background:#cceeff;margin:0pt;padding:0pt;"> 2,116</td></tr><tr><td style="vertical-align:bottom;width:20.11%;margin:0pt;padding:0pt;">2026 Term Loan (2)</td><td style="vertical-align:bottom;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.13%;margin:0pt;padding:0pt;">3/29/2024</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.26%;margin:0pt;padding:0pt;">3/10/2026</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:24.16%;margin:0pt;padding:0pt;">1.51% + applicable spread</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.26%;margin:0pt;padding:0pt;"> 50,000</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.87%;margin:0pt;padding:0pt;"> 868</td></tr><tr><td style="vertical-align:bottom;width:20.11%;background:#cceeff;margin:0pt;padding:0pt;">2026 Term Loan </td><td style="vertical-align:bottom;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.13%;background:#cceeff;margin:0pt;padding:0pt;">8/31/2021</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.26%;background:#cceeff;margin:0pt;padding:0pt;">3/10/2026</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:24.16%;background:#cceeff;margin:0pt;padding:0pt;">0.77% + applicable spread</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.26%;background:#cceeff;margin:0pt;padding:0pt;"> 15,000</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.87%;background:#cceeff;margin:0pt;padding:0pt;"> 929</td></tr><tr><td style="vertical-align:bottom;width:20.11%;margin:0pt;padding:0pt;">2027 Term Loan (3)</td><td style="vertical-align:bottom;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.13%;margin:0pt;padding:0pt;">11/5/2021</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.26%;margin:0pt;padding:0pt;">3/29/2024</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:24.16%;margin:0pt;padding:0pt;">0.73% + applicable spread</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.26%;margin:0pt;padding:0pt;"> 100,000</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.87%;margin:0pt;padding:0pt;"> 3,219</td></tr><tr><td style="vertical-align:bottom;width:20.11%;background:#cceeff;margin:0pt;padding:0pt;">2027 Term Loan (4)</td><td style="vertical-align:bottom;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.13%;background:#cceeff;margin:0pt;padding:0pt;">3/29/2024</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.26%;background:#cceeff;margin:0pt;padding:0pt;">1/31/2027</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:24.16%;background:#cceeff;margin:0pt;padding:0pt;">1.42% + applicable spread</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.26%;background:#cceeff;margin:0pt;padding:0pt;"> 100,000</td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.87%;background:#cceeff;margin:0pt;padding:0pt;"> 2,397</td></tr></table><div style="font-family:'Times New Roman','Times','serif';font-size:10.0pt;margin-bottom:0pt;margin-top:0pt;min-height:1.19em;position:relative;width:100%;"><div style="background-color:#000000;height:1.5pt;position:relative;top:0.6em;width:25.0%;border:none;margin:0 auto 0 0;"/></div><table style="border-collapse:collapse;border:0;"><tr><td style="vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(1)</td><td style="padding:0pt;">Effective March 10, 2021, the Company redesignated the interest rate swap, entered into as of August 31, 2020, that previously hedged $50.0 million of the outstanding principal balance on the Credit Facility.</td></tr></table><table style="border-collapse:collapse;border:0;"><tr><td style="vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(2)</td><td style="padding:0pt;">The interest rate swap agreement hedges the identical $50.0 million portion of the 2026 Term Loan borrowing under different terms and commences concurrent to the interest rate agreement maturing on March 29, 2024.</td></tr></table><table style="border-collapse:collapse;border:0;"><tr><td style="vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(3)</td><td style="padding:0pt;">Effective November 5, 2021, the Company redesignated the interest rate swap, entered into as of March 31, 2020, that previously hedged $100.0 million of the outstanding principal balance on the Credit Facility.</td></tr></table><table style="border-collapse:collapse;border:0;"><tr><td style="vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(4)</td><td style="padding:0pt;">The interest rate swap agreement hedges the identical $100.0 million portion of the 2027 Term Loan borrowing under different terms and commences concurrent to the interest rate agreement maturing on March 29, 2024.</td></tr></table>

0.0022

50000000

2116000

0.0151

50000000

868000

0.0077

15000000

929000

0.0073

100000000

3219000

0.0142

100000000

2397000

50000000.0

100000000.0

NOTE 18. ACCRUED AND OTHER LIABILITIESAccrued and other liabilities consisted of the following (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:65.89%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.67%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.3%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.3%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:65.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:32.04%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As of</td></tr><tr><td style="vertical-align:bottom;width:65.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:14.98%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, 2022</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:15%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">December 31, 2021</td></tr><tr><td style="vertical-align:top;width:65.89%;background:#cceeff;margin:0pt;padding:0pt;">Accrued Property Taxes</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.67%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.3%;background:#cceeff;margin:0pt;padding:0pt;"> 1,831</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.3%;background:#cceeff;margin:0pt;padding:0pt;"> 813</td></tr><tr><td style="vertical-align:top;width:65.89%;margin:0pt;padding:0pt;">Reserve for Tenant Improvements</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.3%;margin:0pt;padding:0pt;"> 5,120</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.3%;margin:0pt;padding:0pt;"> 5,457</td></tr><tr><td style="vertical-align:top;width:65.89%;background:#cceeff;margin:0pt;padding:0pt;">Tenant Security Deposits</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.67%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.3%;background:#cceeff;margin:0pt;padding:0pt;"> 2,062</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.3%;background:#cceeff;margin:0pt;padding:0pt;"> 1,942</td></tr><tr><td style="vertical-align:top;width:65.89%;margin:0pt;padding:0pt;">Accrued Construction Costs</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.3%;margin:0pt;padding:0pt;"> 1,130</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.3%;margin:0pt;padding:0pt;"> 190</td></tr><tr><td style="vertical-align:top;width:65.89%;background:#cceeff;margin:0pt;padding:0pt;">Accrued Interest</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.67%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.3%;background:#cceeff;margin:0pt;padding:0pt;"> 975</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.3%;background:#cceeff;margin:0pt;padding:0pt;"> 431</td></tr><tr><td style="vertical-align:top;width:65.89%;margin:0pt;padding:0pt;">Environmental Reserve </td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.3%;margin:0pt;padding:0pt;"> 73</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.3%;margin:0pt;padding:0pt;"> 81</td></tr><tr><td style="vertical-align:top;width:65.89%;background:#cceeff;margin:0pt;padding:0pt;">Cash Flow Hedge - Interest Rate Swaps</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.67%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.3%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.3%;background:#cceeff;margin:0pt;padding:0pt;"> 26</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:65.89%;margin:0pt;padding:0pt;">Operating Leases - Liability</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.3%;margin:0pt;padding:0pt;"> 143</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.3%;margin:0pt;padding:0pt;"> 198</td></tr><tr><td style="vertical-align:top;width:65.89%;background:#cceeff;margin:0pt;padding:0pt;">Other</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.67%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.3%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 2,579</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.3%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 3,983</td></tr><tr><td style="vertical-align:top;width:65.89%;margin:0pt;padding:0pt;">Total Accrued and Other Liabilities</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.67%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.3%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 13,913</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.3%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 13,121</td></tr></table>Reserve for Tenant Improvements. In connection with recent acquisitions, the Company received an aggregate of $6.7 million from the sellers of certain properties for tenant improvement allowances, leasing commissions and other capital improvements. These amounts are included in accrued and other liabilities on the consolidated balance sheets. Through March 31, 2022, payments totaling $1.6 million were made, leaving a remaining reserve for tenant improvements of $5.1 million.Environmental Reserve. During the year ended December 31, 2014, the Company accrued an environmental reserve of $0.1 million in connection with an estimate of additional costs required to monitor a parcel of less than one acre of land owned by the Company in Highlands County, Florida, on which environmental remediation work had previously been performed. The Company engaged legal counsel who, in turn, engaged environmental engineers to review the site and the prior monitoring test results. During the year ended December 31, 2015, their review was completed, and the Company made an additional accrual of $0.5 million, representing the low end of the range of possible costs estimated by the engineers to be between $0.5 million and $1.0 million to resolve this matter subject to the approval of the state department of environmental protection (the “FDEP”). The FDEP issued a Remedial Action Plan Modification Approval Order (the “FDEP Approval”) in August 2016 which supports the approximate $0.5 million accrual made in 2015. The Company is implementing the remediation plan pursuant to the FDEP Approval. During the fourth quarter of 2017, the Company made an additional accrual of less than $0.1 million for the second year of monitoring as the low end of the original range of estimated costs was increased for the amount of monitoring now anticipated. Since the total accrual of $0.7 million was made, $0.6 million in costs have been incurred through March 31, 2022, leaving a remaining accrual of less than $0.1 million.

Accrued and other liabilities consisted of the following (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:65.89%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.67%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.3%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.3%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:65.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:32.04%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As of</td></tr><tr><td style="vertical-align:bottom;width:65.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:14.98%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, 2022</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:15%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">December 31, 2021</td></tr><tr><td style="vertical-align:top;width:65.89%;background:#cceeff;margin:0pt;padding:0pt;">Accrued Property Taxes</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.67%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.3%;background:#cceeff;margin:0pt;padding:0pt;"> 1,831</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.3%;background:#cceeff;margin:0pt;padding:0pt;"> 813</td></tr><tr><td style="vertical-align:top;width:65.89%;margin:0pt;padding:0pt;">Reserve for Tenant Improvements</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.3%;margin:0pt;padding:0pt;"> 5,120</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.3%;margin:0pt;padding:0pt;"> 5,457</td></tr><tr><td style="vertical-align:top;width:65.89%;background:#cceeff;margin:0pt;padding:0pt;">Tenant Security Deposits</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.67%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.3%;background:#cceeff;margin:0pt;padding:0pt;"> 2,062</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.3%;background:#cceeff;margin:0pt;padding:0pt;"> 1,942</td></tr><tr><td style="vertical-align:top;width:65.89%;margin:0pt;padding:0pt;">Accrued Construction Costs</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.3%;margin:0pt;padding:0pt;"> 1,130</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.3%;margin:0pt;padding:0pt;"> 190</td></tr><tr><td style="vertical-align:top;width:65.89%;background:#cceeff;margin:0pt;padding:0pt;">Accrued Interest</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.67%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.3%;background:#cceeff;margin:0pt;padding:0pt;"> 975</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.3%;background:#cceeff;margin:0pt;padding:0pt;"> 431</td></tr><tr><td style="vertical-align:top;width:65.89%;margin:0pt;padding:0pt;">Environmental Reserve </td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.3%;margin:0pt;padding:0pt;"> 73</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.3%;margin:0pt;padding:0pt;"> 81</td></tr><tr><td style="vertical-align:top;width:65.89%;background:#cceeff;margin:0pt;padding:0pt;">Cash Flow Hedge - Interest Rate Swaps</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.67%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.3%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.3%;background:#cceeff;margin:0pt;padding:0pt;"> 26</td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:65.89%;margin:0pt;padding:0pt;">Operating Leases - Liability</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.67%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.3%;margin:0pt;padding:0pt;"> 143</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.3%;margin:0pt;padding:0pt;"> 198</td></tr><tr><td style="vertical-align:top;width:65.89%;background:#cceeff;margin:0pt;padding:0pt;">Other</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.67%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.3%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 2,579</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.3%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 3,983</td></tr><tr><td style="vertical-align:top;width:65.89%;margin:0pt;padding:0pt;">Total Accrued and Other Liabilities</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.67%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.3%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 13,913</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.3%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 13,121</td></tr></table>

1831000

813000

5120000 5457000 2062000 1942000

1130000

190000

975000

431000

73000

81000

26000

143000

198000

2579000

3983000

13913000

13121000

6700000

1600000

5100000

100000

500000

1000000.0

500000

100000

700000

600000

100000

NOTE 19. DEFERRED REVENUEDeferred revenue consisted of the following (in thousands): <table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:64.1%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.93%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.38%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.93%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:14.51%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:64.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:33.83%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As of</td></tr><tr><td style="vertical-align:bottom;width:64.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:15.32%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, 2022</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:16.45%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">December 31, 2021</td></tr><tr><td style="vertical-align:top;width:64.1%;background:#cceeff;margin:0pt;padding:0pt;">Prepaid Rent</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.93%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.38%;background:#cceeff;margin:0pt;padding:0pt;"> 3,212</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.93%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.51%;background:#cceeff;margin:0pt;padding:0pt;"> 3,921</td></tr><tr><td style="vertical-align:top;width:64.1%;margin:0pt;padding:0pt;">Interest Reserve from Commercial Loan and Master Lease Investment</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.93%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.38%;margin:0pt;padding:0pt;"> 639</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.93%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.51%;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:top;width:64.1%;background:#cceeff;margin:0pt;padding:0pt;">Tenant Contributions</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.93%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.38%;background:#cceeff;margin:0pt;padding:0pt;"> 561</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.93%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.51%;background:#cceeff;margin:0pt;padding:0pt;"> 574</td></tr><tr><td style="vertical-align:top;width:64.1%;margin:0pt;padding:0pt;">Other Deferred Revenue</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.93%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.38%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 180</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.93%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.51%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 10</td></tr><tr><td style="vertical-align:top;width:64.1%;background:#cceeff;margin:0pt;padding:0pt;">Total Deferred Revenue</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.93%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.38%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 4,592</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.93%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.51%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 4,505</td></tr></table>Interest Reserve from Commercial Loan and Master Lease Investment. In connection with one of the Company’s commercial loan investments, the borrower has deposited interest reserves in an account held by the Company. The corresponding liability is recorded in deferred revenue in the Company’s consolidated balance sheets. The interest reserves are utilized to fund the monthly interest due on the loan.

Deferred revenue consisted of the following (in thousands): <table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:64.1%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.93%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.38%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.93%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:14.51%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:64.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:33.83%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As of</td></tr><tr><td style="vertical-align:bottom;width:64.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:15.32%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, 2022</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:16.45%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">December 31, 2021</td></tr><tr><td style="vertical-align:top;width:64.1%;background:#cceeff;margin:0pt;padding:0pt;">Prepaid Rent</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.93%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.38%;background:#cceeff;margin:0pt;padding:0pt;"> 3,212</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.93%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.51%;background:#cceeff;margin:0pt;padding:0pt;"> 3,921</td></tr><tr><td style="vertical-align:top;width:64.1%;margin:0pt;padding:0pt;">Interest Reserve from Commercial Loan and Master Lease Investment</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.93%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.38%;margin:0pt;padding:0pt;"> 639</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.93%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.51%;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:top;width:64.1%;background:#cceeff;margin:0pt;padding:0pt;">Tenant Contributions</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.93%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.38%;background:#cceeff;margin:0pt;padding:0pt;"> 561</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.93%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.51%;background:#cceeff;margin:0pt;padding:0pt;"> 574</td></tr><tr><td style="vertical-align:top;width:64.1%;margin:0pt;padding:0pt;">Other Deferred Revenue</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.93%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.38%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 180</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.93%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.51%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 10</td></tr><tr><td style="vertical-align:top;width:64.1%;background:#cceeff;margin:0pt;padding:0pt;">Total Deferred Revenue</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.93%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.38%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 4,592</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.93%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.51%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 4,505</td></tr></table>

3212000

3921000

639000 561000 574000 180000 10000

4592000

4505000

NOTE 20. STOCK-BASED COMPENSATION SUMMARY OF STOCK-BASED COMPENSATION A summary of share activity for all equity classified stock compensation during the three months ended March 31, 2022, is presented below:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:37.15%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.14%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:8.75%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.17%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:7.93%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.75%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.85%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:7.79%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.76%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.76%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:7.94%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.76%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.84%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.14%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:8.75%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:37.15%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Type of Award</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:9.9%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Shares Outstanding at 1/1/2022</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:9.1%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Granted Shares</td><td style="vertical-align:bottom;white-space:nowrap;width:0.75%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:8.65%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Vested / Exercised Shares</td><td style="vertical-align:bottom;white-space:nowrap;width:0.76%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:8.7%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Expired Shares</td><td style="vertical-align:bottom;width:0.76%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:8.72%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Forfeited Shares</td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:9.9%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Shares Outstanding at 3/31/22</td></tr><tr><td style="vertical-align:top;width:37.15%;background:#cceeff;margin:0pt;padding:0pt;">Equity Classified - Performance Share Awards - Peer Group Market Condition Vesting</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.14%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.75%;background:#cceeff;margin:0pt;padding:0pt;"> 78,118</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.17%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.93%;background:#cceeff;margin:0pt;padding:0pt;"> 23,056</td><td style="vertical-align:bottom;white-space:nowrap;width:0.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.85%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.79%;background:#cceeff;margin:0pt;padding:0pt;"> (24,425)</td><td style="vertical-align:bottom;white-space:nowrap;width:0.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.94%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:0.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.84%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.14%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.75%;background:#cceeff;margin:0pt;padding:0pt;"> 76,749</td></tr><tr><td style="vertical-align:top;width:37.15%;margin:0pt;padding:0pt;">Equity Classified - Three Year Vest Restricted Shares</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.14%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.75%;margin:0pt;padding:0pt;"> 51,503</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.17%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.93%;margin:0pt;padding:0pt;"> 23,446</td><td style="vertical-align:bottom;white-space:nowrap;width:0.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.85%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.79%;margin:0pt;padding:0pt;"> (24,155)</td><td style="vertical-align:bottom;white-space:nowrap;width:0.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.94%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:0.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.84%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;margin:0pt;padding:0pt;"> (772)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.14%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.75%;margin:0pt;padding:0pt;"> 50,022</td></tr><tr><td style="vertical-align:top;width:37.15%;background:#cceeff;margin:0pt;padding:0pt;">Equity Classified - Non-Qualified Stock Option Awards</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.14%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.75%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 21,541</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.17%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.93%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:0.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.85%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.79%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (12,541)</td><td style="vertical-align:bottom;white-space:nowrap;width:0.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.76%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.94%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:0.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.84%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.14%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.75%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 9,000</td></tr><tr><td style="vertical-align:top;width:37.15%;margin:0pt;padding:0pt;">Total Shares</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.14%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.75%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 151,162</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.17%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.93%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 46,502</td><td style="vertical-align:bottom;white-space:nowrap;width:0.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.85%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.79%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> (61,121)</td><td style="vertical-align:bottom;white-space:nowrap;width:0.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.76%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.94%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:0.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.84%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> (772)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.14%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.75%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 135,771</td></tr></table>Effective as of August 4, 2017, the Company entered into amendments to the employment agreements and certain stock option award agreements and restricted share award agreements whereby such awards will fully vest following a change in control (as defined in the executive’s employment agreement) only if the executive’s employment is terminated without cause or if the executive resigns for good reason (as such terms are defined in the executive’s employment agreement), in each case, at any time during the 24-month period following the change in control. Amounts recognized in the financial statements for stock-based compensation are as follows (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:63.79%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.67%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:14%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.96%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:63.79%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:34.14%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Three Months Ended</td></tr><tr><td style="vertical-align:bottom;width:63.79%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:15.68%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, 2022</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:16.4%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, 2021</td></tr><tr><td style="vertical-align:bottom;width:63.79%;background:#cceeff;margin:0pt;padding:0pt;">Total Cost of Share-Based Plans Charged Against Income Before Tax Effect</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.67%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 906</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.96%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 958</td></tr></table>EQUITY-CLASSIFIED STOCK COMPENSATIONPerformance Share Awards – Peer Group Market Condition VestingPerformance shares have been granted to certain employees under the 2010 Plan. The performance share awards entitle the recipient to receive, upon the vesting thereof, shares of common stock of the Company equal to between 0% and 150% of the number of performance shares awarded. The number of shares of common stock ultimately received by the award recipient is determined based on the Company’s total stockholder return as compared to the total stockholder return of a certain peer group during a three-year performance period. The Company granted a total of 23,056 performance shares during the three months ended March 31, 2022. The Company used a Monte Carlo simulation pricing model to determine the fair value of its awards that are based on market conditions. The determination of the fair value of market condition-based awards is affected by the Company’s stock price as well as assumptions regarding a number of other variables. These variables include expected stock price volatility over the requisite performance term of the awards, the relative performance of the Company’s stock price and stockholder returns to companies in its peer group, annual dividends, and a risk-free interest rate assumption. Compensation cost is recognized regardless of the achievement of the market conditions, provided the requisite service period is met.As of March 31, 2022, there was $2.4 million of unrecognized compensation cost, adjusted for estimated forfeitures, related to the non-vested performance share awards, which will be recognized over a remaining weighted average period of 2.2 years.A summary of the activity for these awards during the three months ended March 31, 2022 is presented below: <table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:63.86%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:14.03%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.5%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:14.02%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:63.86%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Performance Shares With Market Conditions</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:15.78%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Shares</td><td style="vertical-align:bottom;width:1.76%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:16.52%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Wtd. Avg. Fair Value Per Share</td></tr><tr><td style="vertical-align:top;width:63.86%;background:#cceeff;margin:0pt;padding:0pt;">Non-Vested at January 1, 2022</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.03%;background:#cceeff;margin:0pt;padding:0pt;"> 78,118</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.5%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.02%;background:#cceeff;margin:0pt;padding:0pt;"> 47.01</td></tr><tr><td style="vertical-align:top;width:63.86%;margin:0pt;padding:0pt;">Granted</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.03%;margin:0pt;padding:0pt;"> 23,056</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.5%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.02%;margin:0pt;padding:0pt;"> 62.27</td></tr><tr><td style="vertical-align:top;width:63.86%;background:#cceeff;margin:0pt;padding:0pt;">Vested</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.03%;background:#cceeff;margin:0pt;padding:0pt;"> (24,425)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.5%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.02%;background:#cceeff;margin:0pt;padding:0pt;"> (50.27)</td></tr><tr><td style="vertical-align:top;width:63.86%;margin:0pt;padding:0pt;">Expired</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.03%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.5%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.02%;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:top;width:63.86%;background:#cceeff;margin:0pt;padding:0pt;">Forfeited</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.03%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.5%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.02%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:top;width:63.86%;margin:0pt;padding:0pt;">Non-Vested at March 31, 2022</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.03%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 76,749</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.5%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.02%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 50.56</td></tr></table>Three Year Vest Restricted SharesRestricted shares have been granted to certain employees under the 2010 Plan. One-third of the restricted shares will vest on each of the first, second, and third anniversaries of January 28 of the applicable year provided the grantee is an employee of the Company on those dates. In addition, any unvested portion of the restricted shares will vest upon a change in control. The Company granted a total of 23,446 shares of three-year restricted Company common stock during the three months ended March 31, 2022. The Company’s determination of the fair value of the three-year vest restricted stock awards was calculated by multiplying the number of shares issued by the Company’s stock price at the grant date. Compensation cost is recognized on a straight-line basis over the vesting period.As of March 31, 2022, there was $2.3 million of unrecognized compensation cost, adjusted for estimated forfeitures, related to the three-year vest non-vested restricted share awards, which will be recognized over a remaining weighted average period of 2.3 years.A summary of the activity for these awards during the three months ended March 31, 2022 is presented below:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:63.8%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.68%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.98%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.96%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:63.8%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Three Year Vest Non-Vested Restricted Shares</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:15.66%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Shares</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:16.4%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Wtd. Avg. Fair Value Per Share</td></tr><tr><td style="vertical-align:top;width:63.8%;background:#cceeff;margin:0pt;padding:0pt;">Non-Vested at January 1, 2022</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.68%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.98%;background:#cceeff;margin:0pt;padding:0pt;"> 51,503</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.96%;background:#cceeff;margin:0pt;padding:0pt;"> 44.88</td></tr><tr><td style="vertical-align:top;width:63.8%;margin:0pt;padding:0pt;">Granted</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.68%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.98%;margin:0pt;padding:0pt;"> 23,446</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.96%;margin:0pt;padding:0pt;"> 59.40</td></tr><tr><td style="vertical-align:top;width:63.8%;background:#cceeff;margin:0pt;padding:0pt;">Vested</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.68%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.98%;background:#cceeff;margin:0pt;padding:0pt;"> (24,155)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.96%;background:#cceeff;margin:0pt;padding:0pt;"> 44.89</td></tr><tr><td style="vertical-align:top;width:63.8%;margin:0pt;padding:0pt;">Expired</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.68%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.98%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.96%;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:top;width:63.8%;background:#cceeff;margin:0pt;padding:0pt;">Forfeited</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.68%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.98%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (772)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.96%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 52.34</td></tr><tr><td style="vertical-align:top;width:63.8%;margin:0pt;padding:0pt;">Non-Vested at March 31, 2022</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.68%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.98%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 50,022</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.96%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 51.57</td></tr></table>Non-Qualified Stock Option AwardsStock option awards have been granted to certain employees under the 2010 Plan. The vesting period of the options awards granted ranged from a period of one to three years. All options had vested as of December 31, 2018. The option expires on the earliest of: (a) the tenth anniversary of the grant date; (b) twelve months after the employee’s death or termination for disability; or (c) thirty days after the termination of employment for any reason other than death or disability. The Company used the Black-Scholes valuation pricing model to determine the fair value of its non-qualified stock option awards. The determination of the fair value of the awards is affected by the stock price as well as assumptions regarding a number of other variables. These variables include expected stock price volatility over the term of the awards, annual dividends, and a risk-free interest rate assumption.A summary of the activity for these awards during the three months ended March 31, 2022 is presented below:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:47.04%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.1%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.17%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.65%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.17%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.19%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.07%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.17%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:47.04%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Non-Qualified Stock Option Awards</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;width:1.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:10.17%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Shares</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:11.83%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Wtd. Avg. Ex. Price</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:11.27%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Wtd. Avg. Remaining Contractual Term (Years)</td><td style="vertical-align:bottom;width:1.1%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:11.28%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Aggregate Intrinsic Value</td></tr><tr><td style="vertical-align:top;width:47.04%;background:#cceeff;margin:0pt;padding:0pt;">Outstanding at January 1, 2022</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.17%;background:#cceeff;margin:0pt;padding:0pt;"> 21,541</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.65%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.17%;background:#cceeff;margin:0pt;padding:0pt;"> 43.37</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.19%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.07%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.17%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:47.04%;margin:0pt;padding:0pt;">Granted</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.17%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.17%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.19%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.07%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.17%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:47.04%;background:#cceeff;margin:0pt;padding:0pt;">Exercised</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.17%;background:#cceeff;margin:0pt;padding:0pt;"> (12,541)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.65%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.17%;background:#cceeff;margin:0pt;padding:0pt;"> 45.88</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.19%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.07%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.17%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:47.04%;margin:0pt;padding:0pt;">Expired</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.17%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.17%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.19%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.07%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.17%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:47.04%;background:#cceeff;margin:0pt;padding:0pt;">Forfeited</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.17%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.65%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.17%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.19%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.07%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.17%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:47.04%;margin:0pt;padding:0pt;">Outstanding at March 31, 2022</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.17%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 9,000</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.65%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.17%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 39.87</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.19%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.07%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">2.56</td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.17%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 238,050</td></tr><tr><td style="vertical-align:top;width:47.04%;background:#cceeff;margin:0pt;padding:0pt;">Exercisable at January 1, 2022</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.17%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 21,541</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.65%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.17%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 43.37</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.19%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.07%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">3.21</td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.17%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 388,837</td></tr><tr><td style="vertical-align:top;width:47.04%;margin:0pt;padding:0pt;">Exercisable at March 31, 2022</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.17%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 9,000</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.65%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.17%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 39.87</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.19%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.07%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">2.56</td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.17%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 238,050</td></tr></table>The total intrinsic value of options exercised during the three months ended March 31, 2022 totaled $0.2 million. As of March 31, 2022, there is no unrecognized compensation cost related to the stock option awards.NON-EMPLOYEE DIRECTOR STOCK COMPENSATIONEach member of the Company’s Board of Directors has the option to receive his or her annual retainer and meeting fees in shares of Company common stock rather than cash. The number of shares awarded to the directors making such election is calculated quarterly by dividing (i) the sum of (A) the amount of the quarterly retainer payment due to such director plus (B) meeting fees earned by such director during the quarter, by (ii) the trailing 20-day average price of the Company’s common stock as of the date two business days prior to the date of the award, rounded down to the nearest whole number of shares.Each non-employee director serving as of the beginning of each calendar year shall receive an annual award of the Company’s common stock. The value of such award totaled $35,000 for the years ended December 31, 2022 and 2021 (the “Annual Award”). The number of shares awarded is calculated based on the trailing 20-day average price of the Company’s common stock as of the date two business days prior to the date of the award, rounded down to the nearest whole number of shares. Commencing in 2021, non-employee directors will no longer receive meeting fees, but will receive additional retainers for service on Board committees, as set forth in the Company’s Non-Employee Director Compensation Policy available on the Company’s website (www.ctoreit.com).During the three months ended March 31, 2022 and 2021, the expense recognized for the value of the Company’s common stock received by non-employee directors totaled $0.3 million, or 4,704 shares, and $0.3 million, or 6,788 shares, respectively. The expense recognized includes the Annual Award received during the first quarter of each respective year, which totaled $0.2 million during each of the three months ended March 31, 2022 and 2021.

A summary of share activity for all equity classified stock compensation during the three months ended March 31, 2022, is presented below:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:37.15%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.14%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:8.75%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.17%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:7.93%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.75%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.85%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:7.79%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.76%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.76%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:7.94%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.76%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.84%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.14%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:8.75%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:37.15%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Type of Award</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:9.9%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Shares Outstanding at 1/1/2022</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:9.1%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Granted Shares</td><td style="vertical-align:bottom;white-space:nowrap;width:0.75%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:8.65%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Vested / Exercised Shares</td><td style="vertical-align:bottom;white-space:nowrap;width:0.76%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:8.7%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Expired Shares</td><td style="vertical-align:bottom;width:0.76%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:8.72%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Forfeited Shares</td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:9.9%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Shares Outstanding at 3/31/22</td></tr><tr><td style="vertical-align:top;width:37.15%;background:#cceeff;margin:0pt;padding:0pt;">Equity Classified - Performance Share Awards - Peer Group Market Condition Vesting</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.14%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.75%;background:#cceeff;margin:0pt;padding:0pt;"> 78,118</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.17%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.93%;background:#cceeff;margin:0pt;padding:0pt;"> 23,056</td><td style="vertical-align:bottom;white-space:nowrap;width:0.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.85%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.79%;background:#cceeff;margin:0pt;padding:0pt;"> (24,425)</td><td style="vertical-align:bottom;white-space:nowrap;width:0.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.94%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:0.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.84%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.14%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.75%;background:#cceeff;margin:0pt;padding:0pt;"> 76,749</td></tr><tr><td style="vertical-align:top;width:37.15%;margin:0pt;padding:0pt;">Equity Classified - Three Year Vest Restricted Shares</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.14%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.75%;margin:0pt;padding:0pt;"> 51,503</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.17%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.93%;margin:0pt;padding:0pt;"> 23,446</td><td style="vertical-align:bottom;white-space:nowrap;width:0.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.85%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.79%;margin:0pt;padding:0pt;"> (24,155)</td><td style="vertical-align:bottom;white-space:nowrap;width:0.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.94%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:0.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.84%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;margin:0pt;padding:0pt;"> (772)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.14%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.75%;margin:0pt;padding:0pt;"> 50,022</td></tr><tr><td style="vertical-align:top;width:37.15%;background:#cceeff;margin:0pt;padding:0pt;">Equity Classified - Non-Qualified Stock Option Awards</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.14%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.75%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 21,541</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.17%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.93%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:0.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.85%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.79%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (12,541)</td><td style="vertical-align:bottom;white-space:nowrap;width:0.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.76%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.94%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:0.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.84%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.14%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.75%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 9,000</td></tr><tr><td style="vertical-align:top;width:37.15%;margin:0pt;padding:0pt;">Total Shares</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.14%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.75%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 151,162</td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.17%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.93%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 46,502</td><td style="vertical-align:bottom;white-space:nowrap;width:0.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.85%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.79%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> (61,121)</td><td style="vertical-align:bottom;white-space:nowrap;width:0.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.76%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.94%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:0.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.84%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.88%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> (772)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.14%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:8.75%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 135,771</td></tr></table>

78118

23056

24425

76749

51503

23446

24155

772

50022

21541

12541

9000

151162 46502 61121 772 135771

Amounts recognized in the financial statements for stock-based compensation are as follows (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:63.79%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.67%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:14%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.96%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:63.79%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:34.14%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Three Months Ended</td></tr><tr><td style="vertical-align:bottom;width:63.79%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:15.68%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, 2022</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:16.4%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, 2021</td></tr><tr><td style="vertical-align:bottom;width:63.79%;background:#cceeff;margin:0pt;padding:0pt;">Total Cost of Share-Based Plans Charged Against Income Before Tax Effect</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.67%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 906</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.96%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 958</td></tr></table>

906000

958000

1.50

P3Y

23056

2400000

P2Y2M12D

A summary of the activity for these awards during the three months ended March 31, 2022 is presented below: <table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:63.86%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:14.03%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.5%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:14.02%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:63.86%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Performance Shares With Market Conditions</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:15.78%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Shares</td><td style="vertical-align:bottom;width:1.76%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:16.52%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Wtd. Avg. Fair Value Per Share</td></tr><tr><td style="vertical-align:top;width:63.86%;background:#cceeff;margin:0pt;padding:0pt;">Non-Vested at January 1, 2022</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.03%;background:#cceeff;margin:0pt;padding:0pt;"> 78,118</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.5%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.02%;background:#cceeff;margin:0pt;padding:0pt;"> 47.01</td></tr><tr><td style="vertical-align:top;width:63.86%;margin:0pt;padding:0pt;">Granted</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.03%;margin:0pt;padding:0pt;"> 23,056</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.5%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.02%;margin:0pt;padding:0pt;"> 62.27</td></tr><tr><td style="vertical-align:top;width:63.86%;background:#cceeff;margin:0pt;padding:0pt;">Vested</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.03%;background:#cceeff;margin:0pt;padding:0pt;"> (24,425)</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.5%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.02%;background:#cceeff;margin:0pt;padding:0pt;"> (50.27)</td></tr><tr><td style="vertical-align:top;width:63.86%;margin:0pt;padding:0pt;">Expired</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.03%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.5%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.02%;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:top;width:63.86%;background:#cceeff;margin:0pt;padding:0pt;">Forfeited</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.03%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.5%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.02%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:top;width:63.86%;margin:0pt;padding:0pt;">Non-Vested at March 31, 2022</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.75%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:14.03%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 76,749</td><td style="vertical-align:bottom;white-space:nowrap;width:1.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.5%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:14.02%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 50.56</td></tr></table>

78118

47.01

23056

62.27

24425

50.27

76749

50.56

23446

2300000

P2Y3M18D

A summary of the activity for these awards during the three months ended March 31, 2022 is presented below:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:63.8%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.68%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.98%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.96%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:63.8%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Three Year Vest Non-Vested Restricted Shares</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:15.66%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Shares</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:16.4%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Wtd. Avg. Fair Value Per Share</td></tr><tr><td style="vertical-align:top;width:63.8%;background:#cceeff;margin:0pt;padding:0pt;">Non-Vested at January 1, 2022</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.68%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.98%;background:#cceeff;margin:0pt;padding:0pt;"> 51,503</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.96%;background:#cceeff;margin:0pt;padding:0pt;"> 44.88</td></tr><tr><td style="vertical-align:top;width:63.8%;margin:0pt;padding:0pt;">Granted</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.68%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.98%;margin:0pt;padding:0pt;"> 23,446</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.96%;margin:0pt;padding:0pt;"> 59.40</td></tr><tr><td style="vertical-align:top;width:63.8%;background:#cceeff;margin:0pt;padding:0pt;">Vested</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.68%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.98%;background:#cceeff;margin:0pt;padding:0pt;"> (24,155)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.96%;background:#cceeff;margin:0pt;padding:0pt;"> 44.89</td></tr><tr><td style="vertical-align:top;width:63.8%;margin:0pt;padding:0pt;">Expired</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.68%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.98%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.96%;margin:0pt;padding:0pt;"> —</td></tr><tr><td style="vertical-align:top;width:63.8%;background:#cceeff;margin:0pt;padding:0pt;">Forfeited</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.68%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.98%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (772)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.96%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 52.34</td></tr><tr><td style="vertical-align:top;width:63.8%;margin:0pt;padding:0pt;">Non-Vested at March 31, 2022</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.68%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.98%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 50,022</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.96%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 51.57</td></tr></table>

51503

44.88

23446

59.40

24155

44.89

772

52.34

50022

51.57

P3Y

A summary of the activity for these awards during the three months ended March 31, 2022 is presented below:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:47.04%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.1%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.17%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.65%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.17%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.19%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.07%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.17%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:47.04%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Non-Qualified Stock Option Awards</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;width:1.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:10.17%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Shares</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:11.83%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Wtd. Avg. Ex. Price</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:11.27%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Wtd. Avg. Remaining Contractual Term (Years)</td><td style="vertical-align:bottom;width:1.1%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:11.28%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Aggregate Intrinsic Value</td></tr><tr><td style="vertical-align:top;width:47.04%;background:#cceeff;margin:0pt;padding:0pt;">Outstanding at January 1, 2022</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.17%;background:#cceeff;margin:0pt;padding:0pt;"> 21,541</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.65%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.17%;background:#cceeff;margin:0pt;padding:0pt;"> 43.37</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.19%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.07%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.17%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:47.04%;margin:0pt;padding:0pt;">Granted</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.17%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.17%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.19%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.07%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.17%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:47.04%;background:#cceeff;margin:0pt;padding:0pt;">Exercised</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.17%;background:#cceeff;margin:0pt;padding:0pt;"> (12,541)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.65%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.17%;background:#cceeff;margin:0pt;padding:0pt;"> 45.88</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.19%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.07%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.17%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:47.04%;margin:0pt;padding:0pt;">Expired</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.17%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.17%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.19%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.07%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.17%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:47.04%;background:#cceeff;margin:0pt;padding:0pt;">Forfeited</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.17%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.65%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.17%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.19%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.07%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.17%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:47.04%;margin:0pt;padding:0pt;">Outstanding at March 31, 2022</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.17%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 9,000</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.65%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.17%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 39.87</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.19%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.07%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">2.56</td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.17%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 238,050</td></tr><tr><td style="vertical-align:top;width:47.04%;background:#cceeff;margin:0pt;padding:0pt;">Exercisable at January 1, 2022</td><td style="vertical-align:bottom;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.17%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 21,541</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.65%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.17%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 43.37</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.19%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.07%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">3.21</td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.17%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 388,837</td></tr><tr><td style="vertical-align:top;width:47.04%;margin:0pt;padding:0pt;">Exercisable at March 31, 2022</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:1.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.17%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 9,000</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.65%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.17%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 39.87</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.19%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.07%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">2.56</td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.1%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.17%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 238,050</td></tr></table>

21541

43.37

12541

45.88

9000

39.87

P2Y6M21D

238050000

21541

43.37

P3Y2M15D

388837000

9000

39.87

P2Y6M21D

238050000

200000

P20D

35000

P20D

300000

4704

300000

6788

200000

NOTE 21. INCOME TAXESThe Company elected to be taxed as a REIT for U.S. federal income tax purposes under the Code commencing with its taxable year ended December 31, 2020. The Company believes that, commencing with such taxable year, it has been organized and has operated in such a manner as to qualify for taxation as a REIT under the U.S. federal income tax laws. The Company intends to continue to operate in such a manner. As a REIT, the Company will be subject to U.S. federal and state income taxation at corporate rates on its net taxable income; the Company, however, may claim a deduction for the amount of dividends paid to its stockholders. Amounts distributed as dividends by the Company will be subject to taxation at the stockholder level only. While the Company must distribute at least 90% of its REIT taxable income, determined without regard to the dividends paid deduction and excluding any net capital gain, to qualify as a REIT, the Company intends to distribute all of its net taxable income. The Company is allowed certain other non-cash deductions or adjustments, such as depreciation expense, when computing its REIT taxable income and distribution requirement. These deductions permit the Company to reduce its dividend payout requirement under U.S. federal income tax laws. Certain states may impose minimum franchise taxes. To comply with certain REIT requirements, the Company holds certain of its non-REIT assets and operations through TRSs and subsidiaries of TRSs, which will be subject to applicable U.S. federal, state and local corporate income tax on their taxable income. For the periods presented, the Company held a total of two TRSs subject to taxation. The Company’s TRSs will file tax returns separately as C-Corporations. As a result of the Company’s election to be taxed as a REIT, during the year ended December 31, 2020, an $82.5 million deferred tax benefit was recorded to de-recognize the deferred tax assets and liabilities associated with the entities included in the REIT. A significant portion of the deferred tax benefit recognized related to the de-recognition of deferred tax liabilities resulting from Internal Revenue Code Section 1031 like-kind exchanges (“1031 Exchanges”). The Company will be subject to corporate income taxes related to assets held by it that are sold during the 5-year period following the date of conversion to the extent such sold assets had a built-in gain as of January 1, 2020. The Company generally does not intend to dispose of any REIT assets after the REIT conversion within the 5-year period, unless various tax planning strategies, including 1031 Exchanges or other deferred tax structures are available to mitigate the built-in gain tax liability of conversion.

0.90 2 82500000

NOTE 22. COMMITMENTS AND CONTINGENCIESLegal ProceedingsFrom time to time, the Company may be a party to certain legal proceedings, incidental to the normal course of its business. While the outcome of the legal proceedings cannot be predicted with certainty, the Company does not expect that these proceedings will have a material effect upon our financial condition or results of operations.Contractual Commitments – Expenditures The Company has committed to fund the following capital improvements. The improvements, which are related to several properties, are estimated to be generally completed within twelve months. These commitments, as of March 31, 2022, are as follows (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:75.77%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.48%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.48%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:19.25%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:75.77%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.48%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:21.73%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As of March 31, 2022</td></tr><tr><td style="vertical-align:bottom;width:75.77%;background:#cceeff;margin:0pt;padding:0pt;">Total Commitment (1)</td><td style="vertical-align:bottom;width:2.48%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.48%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:19.25%;background:#cceeff;margin:0pt;padding:0pt;"> 23,533</td></tr><tr><td style="vertical-align:bottom;width:75.77%;margin:0pt;padding:0pt;">Less Amount Funded</td><td style="vertical-align:bottom;width:2.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.48%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:19.25%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (8,139)</td></tr><tr><td style="vertical-align:bottom;width:75.77%;background:#cceeff;margin:0pt;padding:0pt;">Remaining Commitment</td><td style="vertical-align:bottom;width:2.48%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.48%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:19.25%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 15,394</td></tr></table><div style="font-family:'Times New Roman','Times','serif';font-size:10.0pt;margin-bottom:0pt;margin-top:0pt;min-height:1.19em;position:relative;width:100%;"><div style="background-color:#000000;height:1.5pt;position:relative;top:0.6em;width:25.0%;border:none;margin:0 auto 0 0;"/></div>(1) Commitment includes tenant improvements, leasing commissions, rebranding, facility expansion and other capital improvements.In addition, the Company is committed to fund the construction loan originated on January 26, 2022 as described in Note 4. Commercial Loan and Master Lease Investments. The construction loan is for an amount up to $8.7 million, of which none was funded as of March 31, 2022.

The improvements, which are related to several properties, are estimated to be generally completed within twelve months. These commitments, as of March 31, 2022, are as follows (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:75.77%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.48%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.48%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:19.25%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:75.77%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.48%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:21.73%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As of March 31, 2022</td></tr><tr><td style="vertical-align:bottom;width:75.77%;background:#cceeff;margin:0pt;padding:0pt;">Total Commitment (1)</td><td style="vertical-align:bottom;width:2.48%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.48%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:19.25%;background:#cceeff;margin:0pt;padding:0pt;"> 23,533</td></tr><tr><td style="vertical-align:bottom;width:75.77%;margin:0pt;padding:0pt;">Less Amount Funded</td><td style="vertical-align:bottom;width:2.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.48%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:19.25%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (8,139)</td></tr><tr><td style="vertical-align:bottom;width:75.77%;background:#cceeff;margin:0pt;padding:0pt;">Remaining Commitment</td><td style="vertical-align:bottom;width:2.48%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:2.48%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:19.25%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 15,394</td></tr></table><div style="font-family:'Times New Roman','Times','serif';font-size:10.0pt;margin-bottom:0pt;margin-top:0pt;min-height:1.19em;position:relative;width:100%;"><div style="background-color:#000000;height:1.5pt;position:relative;top:0.6em;width:25.0%;border:none;margin:0 auto 0 0;"/></div>(1) Commitment includes tenant improvements, leasing commissions, rebranding, facility expansion and other capital improvements.

23533000

8139000

15394000

8700000

NOTE 23. BUSINESS SEGMENT DATAThe Company operates in four primary business segments: income properties, management services, commercial loan and master lease investments, and real estate operations. The management services segment consists of the revenue generated from managing PINE and the Land JV, prior to the Land JV Sale. Our income property operations consist of income-producing properties, and our business plan is focused on investing in additional income-producing properties. Our income property operations accounted for 87.1% and 86.0% of our identifiable assets as of March 31, 2022 and December 31, 2021, respectively, and 88.1% and 77.8% of our consolidated revenues for the three months ended March 31, 2022 and 2021, respectively. As of March 31, 2022, our commercial loan and master lease investments portfolio consisted of three commercial loan investments and one commercial property whose lease is classified as a commercial loan and master lease investment. Our real estate operations consist of revenues generated from the sale of and royalty income related to our interests in subsurface oil, gas, and mineral rights, and the generation and sale of mitigation credits. The Company evaluates segment performance based on operating income. The Company’s reportable segments are strategic business units that offer different products. They are managed separately because each segment requires different management techniques, knowledge, and skills. Information about the Company’s operations in different segments for the three months ended March 31, 2022 and 2021 are as follows (in thousands): <table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:58.61%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:58.61%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:39.32%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Three Months Ended</td></tr><tr><td style="vertical-align:bottom;width:58.61%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:18.62%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, 2022</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:18.63%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, 2021</td></tr><tr><td style="vertical-align:top;width:58.61%;background:#cceeff;margin:0pt;padding:0pt;">Revenues:</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:58.61%;margin:0pt;padding:0pt;">Income Properties</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;margin:0pt;padding:0pt;"> 15,168</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;margin:0pt;padding:0pt;"> 11,449</td></tr><tr><td style="vertical-align:top;width:58.61%;background:#cceeff;margin:0pt;padding:0pt;">Management Fee Income </td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;background:#cceeff;margin:0pt;padding:0pt;"> 936</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;background:#cceeff;margin:0pt;padding:0pt;"> 669</td></tr><tr><td style="vertical-align:top;width:58.61%;margin:0pt;padding:0pt;">Interest Income From Commercial Loan and Master Lease Investments</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;margin:0pt;padding:0pt;"> 718</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;margin:0pt;padding:0pt;"> 701</td></tr><tr><td style="vertical-align:top;width:58.61%;background:#cceeff;margin:0pt;padding:0pt;">Real Estate Operations</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 388</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1,893</td></tr><tr><td style="vertical-align:top;width:58.61%;margin:0pt;padding:0pt;">Total Revenues</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 17,210</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 14,712</td></tr><tr><td style="vertical-align:top;width:58.61%;background:#cceeff;margin:0pt;padding:0pt;">Operating Income:</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:58.61%;margin:0pt;padding:0pt;">Income Properties</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;margin:0pt;padding:0pt;"> 11,152</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;margin:0pt;padding:0pt;"> 8,532</td></tr><tr><td style="vertical-align:top;width:58.61%;background:#cceeff;margin:0pt;padding:0pt;">Management Fee Income</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;background:#cceeff;margin:0pt;padding:0pt;"> 936</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;background:#cceeff;margin:0pt;padding:0pt;"> 669</td></tr><tr><td style="vertical-align:top;width:58.61%;margin:0pt;padding:0pt;">Interest Income From Commercial Loan and Master Lease Investments</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;margin:0pt;padding:0pt;"> 718</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;margin:0pt;padding:0pt;"> 701</td></tr><tr><td style="vertical-align:top;width:58.61%;background:#cceeff;margin:0pt;padding:0pt;">Real Estate Operations</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;background:#cceeff;margin:0pt;padding:0pt;"> 337</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;background:#cceeff;margin:0pt;padding:0pt;"> 1,811</td></tr><tr><td style="vertical-align:top;width:58.61%;margin:0pt;padding:0pt;">General and Corporate Expense</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;margin:0pt;padding:0pt;"> (9,412)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;margin:0pt;padding:0pt;"> (7,962)</td></tr><tr><td style="vertical-align:top;width:58.61%;background:#cceeff;margin:0pt;padding:0pt;">Gain (Loss) on Disposition of Assets</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (245)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 708</td></tr><tr><td style="vertical-align:top;width:58.61%;margin:0pt;padding:0pt;">Total Operating Income </td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 3,486</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 4,459</td></tr><tr><td style="vertical-align:top;width:58.61%;background:#cceeff;margin:0pt;padding:0pt;">Depreciation and Amortization:</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:58.61%;margin:0pt;padding:0pt;">Income Properties</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;margin:0pt;padding:0pt;"> 6,356</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;margin:0pt;padding:0pt;"> 4,825</td></tr><tr><td style="vertical-align:top;width:58.61%;background:#cceeff;margin:0pt;padding:0pt;">Corporate and Other</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 13</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 5</td></tr><tr><td style="vertical-align:top;width:58.61%;margin:0pt;padding:0pt;">Total Depreciation and Amortization</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 6,369</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 4,830</td></tr><tr><td style="vertical-align:top;width:58.61%;background:#cceeff;margin:0pt;padding:0pt;">Capital Expenditures:</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:58.61%;margin:0pt;padding:0pt;">Income Properties</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;margin:0pt;padding:0pt;"> 40,499</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;margin:0pt;padding:0pt;"> 39,340</td></tr><tr><td style="vertical-align:top;width:58.61%;background:#cceeff;margin:0pt;padding:0pt;">Corporate and Other</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 16</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 7</td></tr><tr><td style="vertical-align:top;width:58.61%;margin:0pt;padding:0pt;">Total Capital Expenditures</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 40,515</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 39,347</td></tr></table>Identifiable assets of each segment as of March 31, 2022 and December 31, 2021 are as follows (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:58.62%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:16.89%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:16.89%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:58.62%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:39.31%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As of</td></tr><tr><td style="vertical-align:bottom;width:58.62%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:18.61%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, 2022</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:18.63%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">December 31, 2021</td></tr><tr><td style="vertical-align:top;width:58.62%;background:#cceeff;margin:0pt;padding:0pt;">Identifiable Assets:</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.89%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.89%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:58.62%;margin:0pt;padding:0pt;">Income Properties</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.89%;margin:0pt;padding:0pt;"> 657,128</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.89%;margin:0pt;padding:0pt;"> 630,747</td></tr><tr><td style="vertical-align:top;width:58.62%;background:#cceeff;margin:0pt;padding:0pt;">Management Services</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.89%;background:#cceeff;margin:0pt;padding:0pt;"> 1,227</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.89%;background:#cceeff;margin:0pt;padding:0pt;"> 1,653</td></tr><tr><td style="vertical-align:top;width:58.62%;margin:0pt;padding:0pt;">Commercial Loan and Master Lease Investments</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.89%;margin:0pt;padding:0pt;"> 21,830</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.89%;margin:0pt;padding:0pt;"> 39,095</td></tr><tr><td style="vertical-align:top;width:58.62%;background:#cceeff;margin:0pt;padding:0pt;">Real Estate Operations</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.89%;background:#cceeff;margin:0pt;padding:0pt;"> 26,521</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.89%;background:#cceeff;margin:0pt;padding:0pt;"> 26,512</td></tr><tr><td style="vertical-align:top;width:58.62%;margin:0pt;padding:0pt;">Corporate and Other</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.89%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 47,513</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.89%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 35,132</td></tr><tr><td style="vertical-align:top;width:58.62%;background:#cceeff;margin:0pt;padding:0pt;">Total Assets</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.89%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 754,219</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.89%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 733,139</td></tr></table>Operating income represents income from operations before interest expense, investment income, and income taxes. General and corporate expenses are an aggregate of general and administrative expenses and depreciation and amortization expense. Identifiable assets by segment are those assets that are used in the Company’s operations in each segment. Real Estate Operations includes the identifiable assets of the Mitigation Bank and Subsurface Interests. Corporate and other assets consist primarily of cash and restricted cash, property, plant, and equipment related to the other operations, as well as the general and corporate operations.The management services, commercial loan and master lease investments, and real estate operations segments had no capital expenditures during the three months ended March 31, 2022 or 2021.

0.871

0.860

0.881

0.778

3 1

Information about the Company’s operations in different segments for the three months ended March 31, 2022 and 2021 are as follows (in thousands): <table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:58.61%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:58.61%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:39.32%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Three Months Ended</td></tr><tr><td style="vertical-align:bottom;width:58.61%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:18.62%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, 2022</td><td style="vertical-align:bottom;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:18.63%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, 2021</td></tr><tr><td style="vertical-align:top;width:58.61%;background:#cceeff;margin:0pt;padding:0pt;">Revenues:</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:58.61%;margin:0pt;padding:0pt;">Income Properties</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;margin:0pt;padding:0pt;"> 15,168</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;margin:0pt;padding:0pt;"> 11,449</td></tr><tr><td style="vertical-align:top;width:58.61%;background:#cceeff;margin:0pt;padding:0pt;">Management Fee Income </td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;background:#cceeff;margin:0pt;padding:0pt;"> 936</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;background:#cceeff;margin:0pt;padding:0pt;"> 669</td></tr><tr><td style="vertical-align:top;width:58.61%;margin:0pt;padding:0pt;">Interest Income From Commercial Loan and Master Lease Investments</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;margin:0pt;padding:0pt;"> 718</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;margin:0pt;padding:0pt;"> 701</td></tr><tr><td style="vertical-align:top;width:58.61%;background:#cceeff;margin:0pt;padding:0pt;">Real Estate Operations</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 388</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1,893</td></tr><tr><td style="vertical-align:top;width:58.61%;margin:0pt;padding:0pt;">Total Revenues</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 17,210</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 14,712</td></tr><tr><td style="vertical-align:top;width:58.61%;background:#cceeff;margin:0pt;padding:0pt;">Operating Income:</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:58.61%;margin:0pt;padding:0pt;">Income Properties</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;margin:0pt;padding:0pt;"> 11,152</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;margin:0pt;padding:0pt;"> 8,532</td></tr><tr><td style="vertical-align:top;width:58.61%;background:#cceeff;margin:0pt;padding:0pt;">Management Fee Income</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;background:#cceeff;margin:0pt;padding:0pt;"> 936</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;background:#cceeff;margin:0pt;padding:0pt;"> 669</td></tr><tr><td style="vertical-align:top;width:58.61%;margin:0pt;padding:0pt;">Interest Income From Commercial Loan and Master Lease Investments</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;margin:0pt;padding:0pt;"> 718</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;margin:0pt;padding:0pt;"> 701</td></tr><tr><td style="vertical-align:top;width:58.61%;background:#cceeff;margin:0pt;padding:0pt;">Real Estate Operations</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;background:#cceeff;margin:0pt;padding:0pt;"> 337</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;background:#cceeff;margin:0pt;padding:0pt;"> 1,811</td></tr><tr><td style="vertical-align:top;width:58.61%;margin:0pt;padding:0pt;">General and Corporate Expense</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;margin:0pt;padding:0pt;"> (9,412)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;margin:0pt;padding:0pt;"> (7,962)</td></tr><tr><td style="vertical-align:top;width:58.61%;background:#cceeff;margin:0pt;padding:0pt;">Gain (Loss) on Disposition of Assets</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (245)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 708</td></tr><tr><td style="vertical-align:top;width:58.61%;margin:0pt;padding:0pt;">Total Operating Income </td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 3,486</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 4,459</td></tr><tr><td style="vertical-align:top;width:58.61%;background:#cceeff;margin:0pt;padding:0pt;">Depreciation and Amortization:</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:58.61%;margin:0pt;padding:0pt;">Income Properties</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;margin:0pt;padding:0pt;"> 6,356</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;margin:0pt;padding:0pt;"> 4,825</td></tr><tr><td style="vertical-align:top;width:58.61%;background:#cceeff;margin:0pt;padding:0pt;">Corporate and Other</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 13</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 5</td></tr><tr><td style="vertical-align:top;width:58.61%;margin:0pt;padding:0pt;">Total Depreciation and Amortization</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 6,369</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 4,830</td></tr><tr><td style="vertical-align:top;width:58.61%;background:#cceeff;margin:0pt;padding:0pt;">Capital Expenditures:</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:58.61%;margin:0pt;padding:0pt;">Income Properties</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;margin:0pt;padding:0pt;"> 40,499</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;margin:0pt;padding:0pt;"> 39,340</td></tr><tr><td style="vertical-align:top;width:58.61%;background:#cceeff;margin:0pt;padding:0pt;">Corporate and Other</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 16</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 7</td></tr><tr><td style="vertical-align:top;width:58.61%;margin:0pt;padding:0pt;">Total Capital Expenditures</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 40,515</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.73%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.9%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 39,347</td></tr></table>Identifiable assets of each segment as of March 31, 2022 and December 31, 2021 are as follows (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:58.62%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:16.89%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:16.89%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:58.62%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;width:39.31%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As of</td></tr><tr><td style="vertical-align:bottom;width:58.62%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:18.61%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, 2022</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;width:18.63%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">December 31, 2021</td></tr><tr><td style="vertical-align:top;width:58.62%;background:#cceeff;margin:0pt;padding:0pt;">Identifiable Assets:</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.89%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.89%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:58.62%;margin:0pt;padding:0pt;">Income Properties</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.89%;margin:0pt;padding:0pt;"> 657,128</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.89%;margin:0pt;padding:0pt;"> 630,747</td></tr><tr><td style="vertical-align:top;width:58.62%;background:#cceeff;margin:0pt;padding:0pt;">Management Services</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.89%;background:#cceeff;margin:0pt;padding:0pt;"> 1,227</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.89%;background:#cceeff;margin:0pt;padding:0pt;"> 1,653</td></tr><tr><td style="vertical-align:top;width:58.62%;margin:0pt;padding:0pt;">Commercial Loan and Master Lease Investments</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.89%;margin:0pt;padding:0pt;"> 21,830</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.89%;margin:0pt;padding:0pt;"> 39,095</td></tr><tr><td style="vertical-align:top;width:58.62%;background:#cceeff;margin:0pt;padding:0pt;">Real Estate Operations</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.89%;background:#cceeff;margin:0pt;padding:0pt;"> 26,521</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.89%;background:#cceeff;margin:0pt;padding:0pt;"> 26,512</td></tr><tr><td style="vertical-align:top;width:58.62%;margin:0pt;padding:0pt;">Corporate and Other</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.89%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 47,513</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:16.89%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 35,132</td></tr><tr><td style="vertical-align:top;width:58.62%;background:#cceeff;margin:0pt;padding:0pt;">Total Assets</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.72%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.89%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 754,219</td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.74%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:16.89%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 733,139</td></tr></table>

15168000

11449000

936000

669000

718000

701000

388000

1893000

17210000

14712000

11152000

8532000

936000

669000

718000

701000

337000

1811000

-9412000

-7962000

-245000

708000

3486000

4459000

6356000

4825000

13000

5000

6369000

4830000

40499000

39340000

16000

7000

40515000

39347000

657128000

630747000

1227000

1653000

21830000

39095000

26521000

26512000

47513000

35132000

754219000

733139000

NOTE 24. ASSETS HELD FOR SALE Assets held for sale as of December 31, 2021 are summarized below (in thousands). There were no assets held for sale as of March 31, 2022. <table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:60.69%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.2%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.2%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:32.89%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:60.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.2%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:36.1%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As of December 31, 2021</td></tr><tr><td style="vertical-align:top;width:60.69%;background:#cceeff;margin:0pt;padding:0pt;">Plant, Property, and Equipment—Net</td><td style="vertical-align:bottom;white-space:nowrap;width:3.2%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.2%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:32.89%;background:#cceeff;margin:0pt;padding:0pt;"> 6,016</td></tr><tr><td style="vertical-align:top;width:60.69%;margin:0pt;padding:0pt;">Intangible Lease Assets—Net</td><td style="vertical-align:bottom;white-space:nowrap;width:3.2%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.2%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:32.89%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 704</td></tr><tr><td style="vertical-align:top;width:60.69%;background:#cceeff;margin:0pt;padding:0pt;">Total Assets Held for Sale</td><td style="vertical-align:bottom;white-space:nowrap;width:3.2%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.2%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:32.89%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 6,720</td></tr></table>

<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:60.69%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.2%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.2%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:32.89%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:60.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.2%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;width:36.1%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">As of December 31, 2021</td></tr><tr><td style="vertical-align:top;width:60.69%;background:#cceeff;margin:0pt;padding:0pt;">Plant, Property, and Equipment—Net</td><td style="vertical-align:bottom;white-space:nowrap;width:3.2%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.2%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:32.89%;background:#cceeff;margin:0pt;padding:0pt;"> 6,016</td></tr><tr><td style="vertical-align:top;width:60.69%;margin:0pt;padding:0pt;">Intangible Lease Assets—Net</td><td style="vertical-align:bottom;white-space:nowrap;width:3.2%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.2%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:32.89%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 704</td></tr><tr><td style="vertical-align:top;width:60.69%;background:#cceeff;margin:0pt;padding:0pt;">Total Assets Held for Sale</td><td style="vertical-align:bottom;white-space:nowrap;width:3.2%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.2%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:32.89%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 6,720</td></tr></table>

6016000

704000

6720000

NOTE 25. SUBSEQUENT EVENTSThe Company reviewed all subsequent events and transactions through April 28, 2022, the date the consolidated financial statements were issued. Stock SplitOn April 27, 2022, the Company announced that its Board of Directors has approved a three-for-one stock split of the Company’s common stock to be effected in the form of a stock dividend. Each stockholder of record at the close of business on June 27, 2022 (the “Record Date”), will receive two additional shares of the Company’s common stock for each share held as of the Record Date. The new shares will be distributed on June 30, 2022. The Company’s stock will begin trading at the post-split price on July 1, 2022. The Company’s second quarter regular common stock cash dividend, which will apply to pre-split shares only, will not be impacted by the stock split.Commercial Loan and Master Lease InvestmentOn April 7, 2022, the Company entered into a preferred equity agreement to provide $30.0 million of funding towards the acquisition of the Watters Creek at Montgomery Farm, a grocery-anchored, mixed-use property located in Allen, Texas. The three-year preferred investment for the acquisition was fully funded at closing, is interest-only through maturity, includes an origination fee, and bears a fixed preferred return.There were no other reportable subsequent events or transactions.

30000000.0 P3Y