{"id":5790,"date":"2022-04-11T00:43:10","date_gmt":"2022-04-11T05:43:10","guid":{"rendered":"https:\/\/1reason.com\/re\/newlake-capital-partners-reports-fourth-quarter-and-full-year-2021-financial-results\/5790\/"},"modified":"2022-04-11T19:43:10","modified_gmt":"2022-04-12T00:43:10","slug":"newlake-capital-partners-reports-fourth-quarter-and-full-year-2021-financial-results","status":"publish","type":"post","link":"https:\/\/1reason.com\/re\/newlake-capital-partners-reports-fourth-quarter-and-full-year-2021-financial-results\/5790\/","title":{"rendered":"NewLake Capital Partners Reports Fourth Quarter and Full-Year 2021 Financial Results"},"content":{"rendered":"<div>, March  17, 2022  (GLOBE NEWSWIRE) &#8212; NewLake Capital Partners, Inc. (OCTQX: NLCP) (\u201cThe Company\u201d or \u201cNewLake\u201d), a leading provider of real estate capital to state-licensed cannabis operators, today announced its financial results for the fourth quarter and full year ended December 31, 2021.  <\/p>\n<p>\u201c2021 was a transformative year for our company,\u201d said David Weinstein, Chief Executive Officer of NewLake Capital Partners. \u201cAfter closing a merger in March and our IPO in August, we have been deploying capital strategically and with the upmost discipline. Our portfolio today has a 14.5 year weighted average lease term, 12.5% weighted average yield and 2.5% average annual rent escalations. Additionally, we have increased our quarterly dividend in each of the last four quarters, to $0.33 per share in the first quarter of 2022 or $1.32 annually.\u201d<\/p>\n<p>Anthony Coniglio, President and Chief Investment Officer of NewLake Capital Partners commented, \u201cOur pipeline in the fourth quarter of 2021 continued to be robust, providing meaningful opportunities to invest our capital into high-quality transactions. As the industry continues its rapid growth trajectory, we expect our pipeline to deliver further growth and diversification from both new and existing tenant relationships. We will continue to maintain our disciplined underwriting approach allowing us to maximize returns as we deploy capital and capture duration and yield for our shareholders.\u201d<\/p>\n<p><strong>Fourth Quarter 2021 Financial Highlights and Subsequent Events<\/strong> (comparison to fourth quarter 2020):<\/p>\n<ul>\n<li>Revenue more than doubled totaling $9.0 million, as compared to $4.1 million.<\/li>\n<li>Net income attributable to common stockholders totaled $4.3 million, as compared to net income attributable to common stockholders of $2.9 million.<\/li>\n<li>Funds from operations (\u201cFFO\u201d) totaled $6.8 million.<\/li>\n<li>Adjusted funds from operations (\u201cAFFO\u201d) totaled $7.0 million.<\/li>\n<li>Cash and cash equivalents as of December 31, 2021 was $127.1 million. As of December 31, 2021, $24.0 million was committed to funding tenant improvements.<\/li>\n<li>Subsequent to December 31, 2021, funded $3.4 million of tenant improvements.<\/li>\n<li>Subsequent to December 31, 2021, the board of directors declared a first quarter 2022 dividend of $0.33 per common share, equivalent to an annualized dividend of $1.32 per common share. The dividend is for the period beginning January 1, 2022 through March 31, 2022 and is payable on April 14, 2022 to stockholders of record at the close of business on March 31, 2022.<\/li>\n<\/ul>\n<p><strong>Full Year 2021 Financial Highlights<\/strong> (comparison to full year 2020)<\/p>\n<ul>\n<li>Revenue totaled $28.2 million, as compared to $11.7 million.<\/li>\n<li>Net income attributable to common stockholders totaled $11.2 million, as compared to a net loss of $10.7 million. <\/li>\n<li>FFO totaled $19.1 million.<\/li>\n<li>AFFO totaled $21.0 million.<\/li>\n<\/ul>\n<p><strong>Fourth Quarter 2021 Financial Highlights <\/strong>(comparison to third quarter 2021):<\/p>\n<ul>\n<li>Revenue totaled $9.0 million, as compared to $8.1 million.<\/li>\n<li>Net income attributable to common stockholders totaled $4.3 million, as compared to net income attributable to common stockholders of $2.7 million.<\/li>\n<li>FFO totaled $6.8 million, as compared to FFO of $5.1 million.<\/li>\n<li>AFFO totaled $7.0 million, as compared to AFFO of $5.9 million.<\/li>\n<\/ul>\n<p><strong>Portfolio Update:<br \/><\/strong>During the fourth quarter, we funded $6.7 million of previously committed tenant improvement allowances and invested and committed over $50 million into two new properties creating new relationships and further diversification in our portfolio.<\/p>\n<p>In December, we acquired a 70,000-square-foot industrial property in Missouri and entered into a long-term, triple-net lease with Organic Remedies of Missouri (\u201cOrganic Remedies\u201d). NewLake\u2019s total investment in the property will be $21.1 million, which includes $16.1 million funded at December 31, 2021 and a commitment to fund $5.0 million of tenant improvement allowances, $3.2 million of which has already been funded subsequent to year end. Organic Remedies operates the property as a cultivation and processing facility.<\/p>\n<p>In October, we provided a $30 million nine-month senior secured loan that is structured to convert to a twenty-year sale leaseback, unless a specific provision in the loan agreement is satisfied prior to July 29, 2022. Hero Diversified Associates, Inc. (\u201cHDAI\u201d), which owns a state-licensed grower and processor of medical marijuana in Pennsylvania, operates the property as a cultivation and processing facility. Collateral for the loan includes a first-lien mortgage on the facility located in Erie, Pennsylvania, as well as other assets of HDAI.<\/p>\n<p><strong>Financial Results:<\/strong><br \/>Rental income for the three months ended December 31, 2021, increased by approximately $4.3 million, to approximately $8.4 million, compared to approximately $4.1 million for the three months ended December 31, 2020. The increase in rental revenue was primarily attributable to:<\/p>\n<ul>\n<li>The nineteen properties acquired in March 2021 in connection with the Merger, which generated approximately $2.8 million of rental revenue for the three months ended December 31, 2021.<\/li>\n<li>The pre-merger properties which generated an increase of approximately $69,000 for the three months ended December 31, 2021.<\/li>\n<li>The three properties acquired during the second quarter of 2021and one property acquired during the fourth quarter 2021 which generated approximately $1.5 million of rental income in 2021.<\/li>\n<\/ul>\n<p>Rental income for the year ended December 31, 2021, increased by approximately $15.9 million, to approximately $27.6 million, compared to approximately $11.7 million for the year ended December 31, 2020. The increase in rental revenue was primarily attributable to:<\/p>\n<ul>\n<li>The nineteen properties acquired in March 2021 in connection with the Merger, which generated approximately $8.5 million of rental revenue in 2021, representing the period from Merger closing on March 17, 2021 to December 31, 2021.<\/li>\n<li>The three properties we acquired during the second quarter of 2021 and the one property we acquired during the fourth quarter of 2021 generated approximately $3.0 million of rental revenue during the year ended December 31, 2021.<\/li>\n<li>Rental income from the pre-merger properties generated an increase of approximately $4.9 million of rental income during the year ended December 31, 2021.<\/li>\n<\/ul>\n<p>Interest Income from the mortgage loan for the year ended December 31, 2021 was approximately $0.6 million, compared to $0 for the year ended December 31, 2020. The increase in Interest Income from the mortgage loan was attributable to the nine-month mortgage loan we entered into during the fourth quarter of 2021.<\/p>\n<p>Net income attributable to common shareholders for the three months ended December 31, 2021, increased to $4.3 million, compared to a net income attributable to common shareholders of $2.9 million for the same period in 2020. Net income attributable to common shareholders for the year ended December 31, 2021, increased to $11.2 million, compared to a net loss attributable to common shareholders of $10.7 million for the same period in 2020. The 2020 net loss was attributable to the internalization of our external manager in July 2020.<\/p>\n<p>On March 15, 2022, the Company declared a first quarter 2022 cash dividend of $0.33 per share of common stock, equivalent to an annualized dividend of $1.32. The dividend is for the period beginning on January 1, 2022 through the end of the first quarter, March 31, 2022 and is payable on April 14, 2022 to stockholders of record at the close of business on March 31, 2022.<\/p>\n<p>FFO and AFFO are supplemental non-GAAP financial measures used in the real estate industry to measure and compare the operating performance of real estate companies. A complete reconciliation containing adjustments from GAAP net income attributable to common stockholders to FFO and AFFO and definitions of terms are included at the end of this release.<\/p>\n<p>The following information is provided to assist stockholders with tax reporting requirements related to the tax treatment of common stock distributions declared in 2021.<\/p>\n<p>Stockholders should review the 2021 tax statements received from their brokerage firms or other institutions to ensure that the statements substantially agree with the information provided below. Also, as each stockholder&#8217;s tax situation may be different, stockholders are encouraged to consult with their own professional tax advisor with respect to their specific tax treatment of the Company&#8217;s dividend distributions.<\/p>\n<p>The Company&#8217;s dividend distributions per share of common stock are to be classified for income tax purposes as follows:<\/p>\n<table class=\"gnw_table_border_collapse hugin\" style=\"width:100%;border-collapse:collapse !important\">\n<tr>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_middle\" style=\"max-width:15%;width:15%;min-width:15%\"><strong>Declaration Date<\/strong><\/td>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_middle\" style=\"max-width:15%;width:15%;min-width:15%\"><strong>Record Date<\/strong><\/td>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_middle\" style=\"max-width:14%;width:14%;min-width:14%\"><strong>Payment Date<\/strong><\/td>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_middle\" style=\"max-width:14%;width:14%;min-width:14%\"><strong>2021 Distribution <br \/>per Share<\/strong><\/td>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_middle\" style=\"max-width:14%;width:14%;min-width:14%\"><strong>2021 Ordinary <br \/>Dividend per Share<\/strong><\/td>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_middle\" style=\"max-width:14%;width:14%;min-width:14%\"><strong>2021 Non-Dividend <br \/>Distribution per <br \/>Share<\/strong><\/td>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_middle\" style=\"max-width:14%;width:14%;min-width:14%\"><strong>2021 199a <br \/>Dividends per <br \/>Share<\/strong><\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_align_center hugin gnw_vertical_align_middle\">February 27, 2021<\/td>\n<td class=\"gnw_border_top_solid gnw_align_center hugin gnw_vertical_align_middle\">February 27,2021<\/td>\n<td class=\"gnw_border_top_solid gnw_align_center hugin gnw_vertical_align_middle\">March 22, 2021<\/td>\n<td class=\"gnw_padding_left_none gnw_align_center hugin gnw_vertical_align_middle\" colspan=\"1\">$0.15<\/td>\n<td class=\"gnw_padding_left_none gnw_align_center hugin gnw_vertical_align_middle\" colspan=\"1\">$0.14<\/td>\n<td class=\"gnw_padding_left_none gnw_align_center hugin gnw_vertical_align_middle\" colspan=\"1\">$0.01<\/td>\n<td class=\"gnw_padding_left_none gnw_align_center hugin gnw_vertical_align_middle\" colspan=\"1\">$0.14<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_align_center hugin gnw_vertical_align_middle\">March 15, 2021<\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_middle\">March 15,2021<\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_middle\">March 29, 2021<\/td>\n<td class=\"gnw_padding_left_none gnw_align_center hugin gnw_vertical_align_middle\">0.08<\/td>\n<td class=\"gnw_padding_left_none gnw_align_center hugin gnw_vertical_align_middle\">0.07<\/td>\n<td class=\"gnw_padding_left_none gnw_align_center hugin gnw_vertical_align_middle\">0.01<\/td>\n<td class=\"gnw_padding_left_none gnw_align_center hugin gnw_vertical_align_middle\" colspan=\"1\">$0.07<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_align_center hugin gnw_vertical_align_middle\">June 30, 2021<\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_middle\">June 30,2021<\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_middle\">July 15, 2021<\/td>\n<td class=\"gnw_padding_left_none gnw_align_center hugin gnw_vertical_align_middle\">0.24<\/td>\n<td class=\"gnw_padding_left_none gnw_align_center hugin gnw_vertical_align_middle\">0.22<\/td>\n<td class=\"gnw_padding_left_none gnw_align_center hugin gnw_vertical_align_middle\">0.02<\/td>\n<td class=\"gnw_padding_left_none gnw_align_center hugin gnw_vertical_align_middle\" colspan=\"1\">$0.22<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_align_center hugin gnw_vertical_align_middle\">August 11, 2021<\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_middle\">August 11,2021<\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_middle\">August 12, 2021<\/td>\n<td class=\"gnw_padding_left_none gnw_align_center hugin gnw_vertical_align_middle\">0.12<\/td>\n<td class=\"gnw_padding_left_none gnw_align_center hugin gnw_vertical_align_middle\">0.11<\/td>\n<td class=\"gnw_padding_left_none gnw_align_center hugin gnw_vertical_align_middle\">0.01<\/td>\n<td class=\"gnw_padding_left_none gnw_align_center hugin gnw_vertical_align_middle\" colspan=\"1\">$0.11<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_align_center hugin gnw_vertical_align_middle\">September 15, 2021<\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_middle\">September 30,2021<\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_middle\">October 15, 2021<\/td>\n<td class=\"gnw_padding_left_none gnw_align_center hugin gnw_vertical_align_middle\">0.12<\/td>\n<td class=\"gnw_padding_left_none gnw_align_center hugin gnw_vertical_align_middle\">0.11<\/td>\n<td class=\"gnw_padding_left_none gnw_align_center hugin gnw_vertical_align_middle\">0.01<\/td>\n<td class=\"gnw_padding_left_none gnw_align_center hugin gnw_vertical_align_middle\" colspan=\"1\">$0.11<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_align_center hugin gnw_vertical_align_middle\">December 15, 2021<\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_middle\">December 31,2021<\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_middle\">January 14, 2022<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_align_center hugin gnw_vertical_align_middle\">0.31<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_align_center hugin gnw_vertical_align_middle\">0.29<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_align_center hugin gnw_vertical_align_middle\">0.02<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_align_center hugin gnw_vertical_align_middle\" colspan=\"1\">$0.29<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\">Total<\/td>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"hugin gnw_vertical_align_middle\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_middle\" colspan=\"1\">$1.02<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_align_center hugin gnw_vertical_align_middle\" colspan=\"1\"><strong>$<\/strong><strong>0.94<\/strong><\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_align_center hugin gnw_vertical_align_middle\" colspan=\"1\"><strong>$<\/strong><strong>0.08<\/strong><\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_align_center hugin gnw_vertical_align_middle\" colspan=\"1\"><strong>$<\/strong><strong>0.94<\/strong><\/td>\n<\/tr>\n<\/table>\n<p><strong><br \/><\/strong><\/p>\n<p><strong>Conference Call and Webcast Details:<\/strong><br \/>Management will host a conference call and webcast at 8:30am Eastern Time to discuss its quarterly financial results and answer questions about the Company&#8217;s operational and financial highlights for the fourth quarter and full year 2021.<\/p>\n<table align=\"center\" class=\"gnw_table_border_collapse hugin\" style=\"width:100%;border-collapse:collapse !important\">\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\" style=\"max-width:10%;width:10%;min-width:10%\"><strong>Event:<\/strong><\/td>\n<td class=\"hugin gnw_vertical_align_middle\" style=\"max-width:90%;width:90%;min-width:90%\">NewLake Capital Partners Fourth Quarter and Full Year 2021 Results Conference Call<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\"><strong>Date:<\/strong><\/td>\n<td class=\"hugin gnw_vertical_align_middle\">Thursday, March 17, 2022<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\"><strong>Time:<\/strong><\/td>\n<td class=\"hugin gnw_vertical_align_middle\">8:30 a.m. Eastern Time<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\"><strong>Live Call:<\/strong><\/td>\n<td class=\"hugin gnw_vertical_align_middle\">+1-877-407-3982 (U.S. Toll-Free) or +1-201-493-6780 (International)<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_middle\"><strong>Webcast:<\/strong><\/td>\n<td class=\"hugin gnw_vertical_align_middle\"><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=1L4OZnW3i2Cbugi5CgvrLdI1-rNoQKeawmG7jeRe8yTrrcPc6bpjdP2_0WksZXntovYnXQOs7eTo9B2KiuC961rX0vxMu6FM94u0eJY3ez3Bl2w9uwOFtwNcMEjhW7xVBHDTrDmOyA3GzBbXPWgoCzGG03ZCgYoxfeRItPgzLvvo_QcRU-nlCwhq9ol_jvXfUB2lxnE_ZKZgNLSN-B3kgy46ym_pw-5JfgWbYO3CsOg=\" rel=\"nofollow noopener\" target=\"_blank\" title=\"\">https:\/\/viavid.webcasts.com\/starthere.jsp?ei=1533503&amp;tp_key=b9fb9d0033<\/a><\/td>\n<\/tr>\n<\/table>\n<p>For interested individuals unable to join the conference call, a dial-in replay of the call will be available until March 31, 2022 and can be accessed by dialing +1-844-512-2921 (U.S. Toll Free) or +1-412-317-6671 (International) and entering replay pin number: 13727566.<\/p>\n<p><strong>About NewLake Capital Partners, Inc.<\/strong><br \/>NewLake Capital Partners, Inc. is an internally-managed real estate investment trust that provides real estate capital to state-licensed cannabis operators through sale-leaseback transactions and third-party purchases and funding for build-to-suit projects. NewLake owns a portfolio of 28 cultivation facilities and dispensaries that are leased to single tenants on a triple-net basis, and has provided one loan collateralized by a cultivation facility structured to convert to a sale-leaseback unless specific provisions are met by July 29, 2022. For more information, please visit <u><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=sRHoOZBLG4_G3awPTkC-2FOI2DTnq6WBetfB7cf_VCZSZWiVYoEsjwPB79zlMgJDQ3CT8NoAbJObOGtt06YQSg==\" rel=\"nofollow noopener\" target=\"_blank\" title=\"www.newlake.com\">www.newlake.com<\/a><\/u>.<\/p>\n<p><strong>Forward-Looking Statements<\/strong><br \/>This press release contains \u201cforward-looking statements.\u201d Forward-looking statements can be identified by words like \u201cmay,\u201d \u201cwill,\u201d \u201clikely,\u201d \u201cshould,\u201d \u201cexpect,\u201d \u201canticipate,\u201d \u201cfuture,\u201d \u201cplan,\u201d \u201cbelieve,\u201d \u201cintend,\u201d \u201cgoal,\u201d \u201cproject,\u201d \u201ccontinue\u201d and similar expressions. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs and expectations. Forward-looking statements, including statements regarding the timing of settlement and the use of proceeds of the initial public offering, are based on the Company\u2019s current expectations and assumptions regarding capital market conditions, the Company\u2019s business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, changes in the condition of the U.S. economy and, in particular, the U.S. real estate market.<\/p>\n<p><\/p>\n<p align=\"center\"><strong>NEWLAKE CAPITAL PARTNERS, INC.<\/strong><br \/>CONSOLIDATED BALANCE SHEETS<br \/>(In thousands, except share amounts)<\/p>\n<table class=\"gnw_table_border_collapse hugin\" style=\"width:100%;border-collapse:collapse !important\">\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"2\"><strong>December 31,<\/strong><br \/><strong>2021<\/strong><\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"2\"><strong>December 31,<\/strong><br \/><strong>2020<\/strong><\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" style=\"max-width:72%;width:72%;min-width:72%\">ASSETS:<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" style=\"max-width:1%;width:1%;min-width:1%\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" style=\"max-width:12%;width:12%;min-width:12%\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" style=\"max-width:1%;width:1%;min-width:1%\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" style=\"max-width:1%;width:1%;min-width:1%\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" style=\"max-width:12%;width:12%;min-width:12%\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" style=\"max-width:1%;width:1%;min-width:1%\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i10 hugin gnw_vertical_align_bottom\">Real Estate<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i20 hugin gnw_vertical_align_bottom\">Land<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">15,649<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">2,490<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i20 hugin gnw_vertical_align_bottom\">Building and Improvements<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">272,432<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">124,121<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 hugin gnw_vertical_align_bottom\">Total Real Estate<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">288,081<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">126,611<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i20 hugin gnw_vertical_align_bottom\">Less Accumulated Depreciation<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">(9,155<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">(2,650<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">)<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_label_i30 hugin gnw_vertical_align_bottom\">Net Real Estate<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">278,926<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">123,961<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i10 hugin gnw_vertical_align_bottom\">Cash and Cash Equivalents<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">127,097<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">19,617<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i10 hugin gnw_vertical_align_bottom\">Mortgage Loan Receivable<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">30,000<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">&#8211;<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i10 hugin gnw_vertical_align_bottom\">In-Place Lease Intangible Assets, net<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">24,002<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">&#8211;<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i25 hugin gnw_vertical_align_bottom\">Prepaid Expenses and Other Assets<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">858<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">598<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 hugin gnw_vertical_align_bottom\">  TOTAL ASSETS<\/td>\n<td class=\"gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_bottom_double gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">460,883<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_bottom_double gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">144,176<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">LIABILITIES AND EQUITY:<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">LIABILITIES:<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i10 hugin gnw_vertical_align_bottom\">Dividends, Dividend Equivalents and Distributions Payable<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">6,765<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">894<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i10 hugin gnw_vertical_align_bottom\">Security Deposits Payable<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">6,047<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">1,594<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i10 hugin gnw_vertical_align_bottom\">Loan Payable, net<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">3,759<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">&#8211;<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i10 hugin gnw_vertical_align_bottom\">Interest Reserve<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">2,144<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">&#8211;<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i10 hugin gnw_vertical_align_bottom\">Rent Received in Advance<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">1,429<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">&#8211;<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i10 hugin gnw_vertical_align_bottom\">Accrued Expenses and Other Liabilities<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">1,404<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">659<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 hugin gnw_vertical_align_bottom\">  Total Liabilities<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">21,548<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">3,147<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">COMMITMENTS AND CONTINGENCIES<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">EQUITY:<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i20 hugin gnw_vertical_align_bottom\">Preferred Stock, $0.01 Par Value, 100,000,000 Shares Authorized, 12.5% Series A <br \/> Redeemable Cumulative Preferred Stock, 0 and 125 Shares Issued and Outstanding at <br \/> December 31, 2021 and December 31, 2020<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">&#8211;<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">61<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i20 hugin gnw_vertical_align_bottom\">Common Stock, $0.01 Par Value, 400,000,000 Shares Authorized, 21,235,914 Shares <br \/> Issued and Outstanding at December 31, 2021 and 7,758,145 Shares Issued and <br \/> Outstanding at December 31, 2020<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">213<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">78<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i10 hugin gnw_vertical_align_bottom\">Additional Paid-In Capital<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">450,916<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">151,778<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i10 hugin gnw_vertical_align_bottom\">Accumulated Deficit<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">(23,574<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">(17,154<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">)<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 hugin gnw_vertical_align_bottom\">  Total Stockholders&#8217; Equity<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">427,555<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">134,763<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">NONCONTROLLING INTERESTS<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">11,780<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">6,266<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 hugin gnw_vertical_align_bottom\">  Total Equity<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">439,335<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">141,029<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 hugin gnw_vertical_align_bottom\">  TOTAL LIABILITIES AND EQUITY<\/td>\n<td class=\"gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_bottom_double gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">460,883<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_bottom_double gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">144,176<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<\/table>\n<p><\/p>\n<p><\/p>\n<table align=\"center\" class=\"gnw_table_border_collapse hugin\" style=\"width:100%;border-collapse:collapse !important\">\n<tr>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\"><strong>NEWLAKE CAPITAL PARTNERS, INC.<\/strong><\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\">CONSOLIDATED STATEMENTS OF OPERATIONS<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\">(In thousands, except share and per share amounts)<\/td>\n<\/tr>\n<\/table>\n<p><\/p>\n<table class=\"gnw_table_border_collapse hugin\" style=\"width:100%;border-collapse:collapse !important\">\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"5\"><strong>For the Years Ended<\/strong><br \/><strong>December 31, <\/strong><\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"5\"><strong>For the Three Months Ended<\/strong><br \/><strong>December 31, <\/strong><\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_padding_right_none gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"2\"><strong>2021<\/strong><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"2\"><strong>2020<\/strong><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_padding_right_none gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"2\"><strong>2021<\/strong><\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"2\"><strong>2020<\/strong><\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" style=\"max-width:52%;width:52%;min-width:52%\">REVENUE:<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" style=\"max-width:1%;width:1%;min-width:1%\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" style=\"max-width:10%;width:10%;min-width:10%\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" style=\"max-width:1%;width:1%;min-width:1%\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" style=\"max-width:1%;width:1%;min-width:1%\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" style=\"max-width:10%;width:10%;min-width:10%\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" style=\"max-width:1%;width:1%;min-width:1%\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" style=\"max-width:1%;width:1%;min-width:1%\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" style=\"max-width:10%;width:10%;min-width:10%\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" style=\"max-width:1%;width:1%;min-width:1%\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" style=\"max-width:1%;width:1%;min-width:1%\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" style=\"max-width:10%;width:10%;min-width:10%\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" style=\"max-width:1%;width:1%;min-width:1%\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i10 hugin gnw_vertical_align_bottom\" style=\"max-width:50%;min-width:50%\">Rental Income<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" style=\"max-width:1%;min-width:1%\">$<\/td>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" style=\"max-width:10%;min-width:10%\">27,588<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" style=\"max-width:1%;min-width:1%\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" style=\"max-width:1%;min-width:1%\">$<\/td>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" style=\"max-width:10%;min-width:10%\">11,663<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" style=\"max-width:1%;min-width:1%\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" style=\"max-width:1%;min-width:1%\">$<\/td>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" style=\"max-width:10%;min-width:10%\">8,415<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" style=\"max-width:1%;min-width:1%\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" style=\"max-width:1%;min-width:1%\">$<\/td>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" style=\"max-width:10%;min-width:10%\">4,069<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" style=\"max-width:1%;min-width:1%\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i10 hugin gnw_vertical_align_bottom\">Interest Income from Mortgage Loan<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">613<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">&#8211;<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">613<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">&#8211;<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">TOTAL REVENUE<\/td>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">28,201<\/td>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">11,663<\/td>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">9,028<\/td>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">4,069<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">EXPENSES:<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i10 hugin gnw_vertical_align_bottom\">Depreciation and Amortization Expense<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">8,097<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">2,603<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">2,496<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">911<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i10 hugin gnw_vertical_align_bottom\">General and Administrative Expense<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">6,445<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">4,056<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">1,878<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">794<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i10 hugin gnw_vertical_align_bottom\">Stock-Based Compensation<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">2,020<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">4,721<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">200<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">836<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i10 hugin gnw_vertical_align_bottom\">Property Expenses<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">144<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">&#8211;<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">51<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">&#8211;<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i10 hugin gnw_vertical_align_bottom\">Management Internalization Costs<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">&#8211;<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">12,360<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">&#8211;<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">&#8211;<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i25 hugin gnw_vertical_align_bottom\">TOTAL EXPENSES<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">16,706<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">23,740<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">4,625<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">2,541<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i25 hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">Gain on Sale of Real Estate<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">&#8211;<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">1,491<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">&#8211;<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">1,491<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i25 hugin gnw_vertical_align_bottom\">INCOME (LOSS) FROM OPERATIONS<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">11,495<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">(10,586<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">4,403<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">3,019<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">OTHER INCOME (EXPENSE):<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i10 hugin gnw_vertical_align_bottom\">Interest Income<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">100<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">153<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">61<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">&#8211;<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i10 hugin gnw_vertical_align_bottom\">Interest Expense<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">(6<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">&#8211;<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">(6<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">&#8211;<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_top_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i25 hugin gnw_vertical_align_bottom\">TOTAL OTHER INCOME (EXPENSE)<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">94<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">153<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">55<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">&#8211;<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i25 hugin gnw_vertical_align_bottom\">NET INCOME (LOSS)<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">11,589<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">(10,433<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">4,458<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">3,019<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">Preferred Stock Dividends<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">(4<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">(16<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">&#8211;<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">(4<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">)<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">Net Income Attributable to Noncontrolling Interests<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">(356<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">(234<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">(120<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">(132<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">)<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i25 hugin gnw_vertical_align_bottom\">NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS<\/td>\n<td class=\"gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_bottom_double gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">11,229<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_bottom_double gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">(10,683<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_bottom_double gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">4,338<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_bottom_double gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">2,883<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 hugin gnw_vertical_align_bottom\">Net Income (Loss) Attributable to Common Stockholders Per Share &#8211; Basic<\/td>\n<td class=\"gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_bottom_double gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">0.66<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_bottom_double gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">(1.50<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_bottom_double gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">0.20<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_bottom_double gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">0.40<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 hugin gnw_vertical_align_bottom\">Net Income (Loss) Attributable to Common Stockholders Per Share &#8211; Diluted<\/td>\n<td class=\"gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_bottom_double gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">0.65<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_bottom_double gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">(1.50<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_bottom_double gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">0.20<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_bottom_double gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">0.40<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 hugin gnw_vertical_align_bottom\">Weighted Average Shares of Common Stock Outstanding &#8211; Basic<\/td>\n<td class=\"gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_double gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">17,011,991<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_double gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">7,123,165<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_double gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">21,235,914<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_double gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">7,181,120<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"gnw_label_i30 hugin gnw_vertical_align_bottom\">Weighted Average Shares of Common Stock Outstanding &#8211; Diluted<\/td>\n<td class=\"gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_double gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">17,566,470<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_double gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">7,123,165<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_double gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">21,904,623<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_double gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">7,181,120<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<\/table>\n<p align=\"justify\" style=\"text-align: justify\"><\/p>\n<p align=\"justify\">The table below is a reconciliation of net income attributable to common stockholders to FFO and AFFO for the year and three months ended December 31, 2021 and 2020 (in thousands, except share and per share amounts):<\/p>\n<table class=\"gnw_table_border_collapse hugin\" style=\"width:100%;border-collapse:collapse !important\">\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"5\"><strong>For the Years ended <br \/>December 31,<\/strong><\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"5\"><strong>For the Three Months <br \/>ended December 31,<\/strong><\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"2\"><strong>2021<\/strong><\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"2\"><strong>2020<\/strong><\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"2\"><strong>2021<\/strong><\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"2\"><strong>2020<\/strong><\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" style=\"max-width:52%;width:52%;min-width:52%\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" style=\"max-width:1%;width:1%;min-width:1%\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" style=\"max-width:10%;width:10%;min-width:10%\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" style=\"max-width:1%;width:1%;min-width:1%\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" style=\"max-width:1%;width:1%;min-width:1%\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" style=\"max-width:10%;width:10%;min-width:10%\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" style=\"max-width:1%;width:1%;min-width:1%\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" style=\"max-width:1%;width:1%;min-width:1%\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" style=\"max-width:10%;width:10%;min-width:10%\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" style=\"max-width:1%;width:1%;min-width:1%\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" style=\"max-width:1%;width:1%;min-width:1%\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" style=\"max-width:10%;width:10%;min-width:10%\" \/>\n<td class=\"hugin gnw_vertical_align_bottom\" style=\"max-width:1%;width:1%;min-width:1%\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">Net income (loss) attributable to common stockholders<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">11,229<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">(10,683<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">4,338<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">2,883<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">Real estate depreciation and amortization<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">7,848<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">2,545<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">2,429<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">871<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">FFO attributable to common stockholders<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">19,077<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">(8,138<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">6,767<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">3,754<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">Stock- based compensation<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">1,958<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">4,615<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">194<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">799<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">Management Internalization Costs<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">&#8211;<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">12,360<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">&#8211;<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_solid gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">&#8211;<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">AFFO attributable to common stockholders<\/td>\n<td class=\"gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_bottom_double gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">21,035<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_bottom_double gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">8,837<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_bottom_double gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">6,961<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_bottom_double gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">4,553<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">FFO per share \u2013 basic<\/td>\n<td class=\"gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_bottom_double gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">1.12<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_bottom_double gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">(1.14<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_bottom_double gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">0.32<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_bottom_double gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">0.52<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">FFO per share \u2013 diluted<\/td>\n<td class=\"gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_bottom_double gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">1.09<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_bottom_double gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">(1.14<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_bottom_double gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">0.31<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_bottom_double gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">0.52<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">AFFO per share \u2013 basic<\/td>\n<td class=\"gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_bottom_double gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">1.24<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_bottom_double gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">1.24<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_bottom_double gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">0.33<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_bottom_double gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">0.63<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">AFFO per share \u2013 diluted<\/td>\n<td class=\"gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_bottom_double gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">1.20<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_bottom_double gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">1.24<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_bottom_double gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">0.32<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">$<\/td>\n<td class=\"gnw_border_bottom_double gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">0.63<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">Weighted average shares outstanding \u2013 basic<\/td>\n<td class=\"gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_double gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">17,011,991<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_double gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">7,123,165<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_double gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">21,235,914<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_double gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">7,181,120<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">Weighted average shares outstanding \u2013 diluted<\/td>\n<td class=\"gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_double gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">17,566,470<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_double gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">7,123,165<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_double gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">21,904,623<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/>\n<td class=\"gnw_border_bottom_double gnw_align_right gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\">7,181,120<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none hugin gnw_vertical_align_bottom\" \/><\/tr>\n<\/table>\n<p>We calculate FFO in accordance with the current National Association of Real Estate Investment Trusts (\u201cNAREIT\u201d) definition. NAREIT currently defines FFO as follows: net income (loss) (computed in accordance with GAAP) excluding depreciation and amortization related to real estate, gains and losses from the sale of certain real estate assets, and impairment write-downs of certain real estate assets and investments in entities when the impairment is directly attributable to decreases in the value of depreciable real estate held by an entity. Other REITs may not define FFO in accordance with the NAREIT definition or may interpret the current NAREIT definition differently than we do and therefore our computation of FFO may not be comparable to such other REITs.<\/p>\n<p>We calculate AFFO by starting with FFO and adding back non-cash and certain non-recurring transactions, including non-cash components of compensation expense and our internalization costs. Other REITs may not define AFFO in the same manner as we do and therefore our calculation of AFFO may not be comparable to such other REITs. You should not consider FFO and AFFO to be alternatives to net income as a reliable measure of our operating performance; nor should you consider FFO and AFFO to be alternatives to cash flows from operating, investing or financing activities (as defined by GAAP) as measures of liquidity.<\/p>\n<p><strong>Contact Information:<\/strong><br \/>Anthony Coniglio<br \/>President and Chief Investment Officer<br \/>NewLake Capital Partners, Inc.<br \/><u><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=tI_4aMhlnrDDQdAW6jqEIqi3diREkr1Z0MSDEkvMBTAuKRgm_9lBT7GFg7pxLagSmiPyHNgTFogz47CjK-2KGlgNo4BPawrBjB30lbSPXg0=\" rel=\"nofollow noopener\" target=\"_blank\" title=\"aconiglio@newlake.com\">aconiglio@newlake.com<\/a><\/u><\/p>\n<p><strong>Investor Contact:<\/strong><br \/>Valter Pinto, Managing Director<br \/>KCSA Strategic Communications<br \/><u><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=TOqgAtqteB2_06XYmuJyBXqDIQOdXKjyHBliKUGnlNRO0X4vC_uepugI3xqlTX7uMmcgr92uEawkEAO4AuNw1w==\" rel=\"nofollow noopener\" target=\"_blank\" title=\"Valter@KCSA.com\">Valter@KCSA.com<\/a><\/u><br \/>PH: (212) 896-1254<\/p>\n<p><strong>Media Contact:<\/strong><br \/>McKenna Miller<br \/>KCSA Strategic Communications<br \/><u><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=L1NNmKFF0AKInYgmr9SkcmUwge1_NFsGvdjpysYHn2vYcIJHoAjtAmnfKykS7xehNMyJgFeoij45htfh-vvvEg==\" rel=\"nofollow noopener\" target=\"_blank\" title=\"MMiller@kcsa.com\">MMiller@kcsa.com<\/a><\/u><br \/>PH: (212) 896-1254<\/p>\n<p><img src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" class=\"lazyload\" data-src=\"https:\/\/ml.globenewswire.com\/media\/MmU4ZTA5NGQtN2YxZi00YzA4LWFhM2EtNTFkNDg1NGQ2NWY2LTEyMTM1NDc=\/tiny\/NewLake-Capital.png\"><\/div>\n","protected":false},"excerpt":{"rendered":"<div>\n<p align=\"center\">Fourth Quarter 2021 Revenue Totaled $9.0 Million, an Increase of 12% Sequentially and 122% YoY<\/p>\n<p align=\"center\">FY2021 Revenue of $28.2 Million, an Increase of 142% YoY<\/p>\n<p align=\"center\">Fourth Quarter 2021 Net Income Attributable to Common Stockholders totaled $4.3 Million, FFO of $6.8 Million, and AFFO of $7.0 Million<\/p>\n<p>NEW CANAAN, Conn.<\/p>\n<\/div>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":[],"categories":[11],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/5790"}],"collection":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/comments?post=5790"}],"version-history":[{"count":1,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/5790\/revisions"}],"predecessor-version":[{"id":5794,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/5790\/revisions\/5794"}],"wp:attachment":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/media?parent=5790"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/categories?post=5790"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/tags?post=5790"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}