\n| \n Stabilized<\/b><\/p>\n<\/td>\n | \n Number<\/b><\/p>\n<\/td>\n | | \n\n Cap<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 2023 Sales<\/b><\/p>\n<\/td>\n | \n 2024 & Beyond Sales<\/b><\/p>\n<\/td>\n | | \n\n Gross Proceeds<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nUnder Contract – No DD<\/p>\n<\/td>\n | \n \n2<\/p>\n<\/td>\n | | \n\n \n7.2<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n36,650<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nUnder Contract – In DD<\/p>\n<\/td>\n | \n \n1<\/p>\n<\/td>\n | | \n\n \n8.6<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n25,313<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nPSA Neg. \/ Accepted Offer<\/p>\n<\/td>\n | \n \n1<\/p>\n<\/td>\n | | \n\n \n9.2<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n10,400<\/p>\n<\/td>\n<\/tr>\n | \n| \n Total<\/b><\/p>\n<\/td>\n | \n 4<\/b><\/p>\n<\/td>\n | | \n\n 8.0<\/b><\/p>\n<\/td>\n | \n %<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 4<\/b><\/p>\n<\/td>\n | \n –<\/b><\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 72,363<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n Remaining Stabilized Sales Parcels<\/b><\/p>\n<\/td>\n | \n 5<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 2<\/b><\/p>\n<\/td>\n | \n 3<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n Partially Stabilized<\/b><\/p>\n<\/td>\n | \n Number<\/b><\/p>\n<\/td>\n | | \n\n Cap<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 2023 Sales<\/b><\/p>\n<\/td>\n | \n 2024 & Beyond Sales<\/b><\/p>\n<\/td>\n | | \n\n Gross Proceeds<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nUnder Contract – No DD<\/p>\n<\/td>\n | \n \n4<\/p>\n<\/td>\n | | \n\n \n7.6<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n4<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n115,850<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nUnder Contract – In DD<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \nN\/A<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nPSA Neg. \/ Accepted Offer<\/p>\n<\/td>\n | \n \n1<\/p>\n<\/td>\n | | \n\n \n4.0<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n7,600<\/p>\n<\/td>\n<\/tr>\n | \n| \n Total<\/b><\/p>\n<\/td>\n | \n 5<\/b><\/p>\n<\/td>\n | | \n\n 7.5<\/b><\/p>\n<\/td>\n | \n %<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 5<\/b><\/p>\n<\/td>\n | \n –<\/b><\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 123,450<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n Remaining Partially Stabilized Sales
\n
Parcels<\/b><\/p>\n<\/td>\n | \n 7<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 2<\/b><\/p>\n<\/td>\n | \n 5<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n Pads<\/b><\/p>\n<\/td>\n | \n Number<\/b><\/p>\n<\/td>\n | | \n\n Cap<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 2023 Sales<\/b><\/p>\n<\/td>\n | \n 2024 & Beyond Sales<\/b><\/p>\n<\/td>\n | | \n\n Gross Proceeds<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nUnder Contract – No DD<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \nN\/A<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nUnder Contract – In DD<\/p>\n<\/td>\n | \n \n2<\/p>\n<\/td>\n | | \n\n \n5.7<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n7,015<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nPSA Neg. \/ Accepted Offer<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \nN\/A<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n<\/tr>\n | \n| \n Total<\/b><\/p>\n<\/td>\n | \n 2<\/b><\/p>\n<\/td>\n | | \n\n 5.7<\/b><\/p>\n<\/td>\n | \n %<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 2<\/b><\/p>\n<\/td>\n | \n –<\/b><\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 7,015<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n Remaining Pad Sales Parcels<\/b><\/p>\n<\/td>\n | \n 3<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 3<\/b><\/p>\n<\/td>\n | \n –<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n Joint Ventures<\/b><\/p>\n<\/td>\n | \n Number<\/b><\/p>\n<\/td>\n | | \n\n PSF<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 2023 Sales<\/b><\/p>\n<\/td>\n | \n 2024 & Beyond Sales<\/b><\/p>\n<\/td>\n | | \n\n Gross Proceeds<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nUnder Contract – No DD<\/p>\n<\/td>\n | \n \n4<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n171.52<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n4<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n104,850<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nUnder Contract – In DD<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \nN\/A<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nPSA Neg. \/ Accepted Offer<\/p>\n<\/td>\n | \n \n1<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n38.75<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n4,500<\/p>\n<\/td>\n<\/tr>\n | \n| \n Total<\/b><\/p>\n<\/td>\n | \n 5<\/b><\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 150.32<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 5<\/b><\/p>\n<\/td>\n | \n –<\/b><\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 109,350<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n Remaining Joint Venture Sales Parcels<\/b><\/p>\n<\/td>\n | \n 10<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 2<\/b><\/p>\n<\/td>\n | \n 8<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n<\/table>\n\n\n| \n Non-Income Producing<\/b><\/p>\n<\/td>\n | \n Number<\/b><\/p>\n<\/td>\n | \u00a0<\/td>\n | \n PSF<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Per Acre<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Carry Cost<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 2023 Sales<\/b><\/p>\n<\/td>\n | \n 2024 & Beyond Sales<\/b><\/p>\n<\/td>\n | \u00a0<\/td>\n | \n Gross Proceeds<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nUnder Contract – No DD<\/p>\n<\/td>\n | \n \n9<\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n128.06<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n1,277<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n(5,019<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n9<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n155,375<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nUnder Contract – In DD<\/p>\n<\/td>\n | \n \n2<\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n38.92<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n491<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n(854<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n2<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n11,000<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nPSA Neg. \/ Accepted Offer<\/p>\n<\/td>\n | \n \n7<\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n33.81<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n453<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n(1,811<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n7<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n42,489<\/p>\n<\/td>\n<\/tr>\n | \n| \n Total<\/b><\/p>\n<\/td>\n | \n 18<\/b><\/p>\n<\/td>\n | \u00a0<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 75.87<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 878<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n (7,683<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | \n 18<\/b><\/p>\n<\/td>\n | \n –<\/b><\/p>\n<\/td>\n | \u00a0<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 208,864<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n Remaining Non-Income
\n
Producing Sales Parcels<\/b><\/p>\n<\/td>\n | \n 19<\/b><\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 9<\/b><\/p>\n<\/td>\n | \n 10<\/b><\/p>\n<\/td>\n | \u00a0<\/td>\n | | <\/tr>\n<\/table>\n\n\n| \n Sales Progress as of May 9, 2023 (1)<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n Stabilized<\/b><\/p>\n<\/td>\n | \n Number<\/b><\/p>\n<\/td>\n | \u00a0<\/td>\n | \n Cap<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 2023 Sales<\/b><\/p>\n<\/td>\n | \n 2024 & Beyond Sales<\/b><\/p>\n<\/td>\n | \u00a0<\/td>\n | \n Gross Proceeds<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \nClosed since April 4, 2023<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \nN\/A<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nUnder Contract – No DD<\/p>\n<\/td>\n | \n \n2<\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \n7.2%<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n36,650<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nUnder Contract – In DD<\/p>\n<\/td>\n | \n \n1<\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \n9.2%<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n10,400<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nPSA Neg. \/ Accepted Offer<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \nN\/A<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nTotal<\/p>\n<\/td>\n | \n 3<\/b><\/p>\n<\/td>\n | \u00a0<\/td>\n | \n 7.6%<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 3<\/b><\/p>\n<\/td>\n | \n –<\/b><\/p>\n<\/td>\n | \u00a0<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 47,050<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n Remaining Stabilized Sales Parcels (2)<\/b><\/p>\n<\/td>\n | \n 6<\/b><\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 4<\/b><\/p>\n<\/td>\n | \n 2<\/b><\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n Partially Stabilized<\/b><\/p>\n<\/td>\n | \n Number<\/b><\/p>\n<\/td>\n | \u00a0<\/td>\n | \n Cap<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 2023 Sales<\/b><\/p>\n<\/td>\n | \n 2024 & Beyond Sales<\/b><\/p>\n<\/td>\n | \u00a0<\/td>\n | \n Gross Proceeds<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \nClosed since April 4, 2023<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \nN\/A<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nUnder Contract – No DD<\/p>\n<\/td>\n | \n \n4<\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \n7.6%<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n4<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n115,850<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nUnder Contract – In DD<\/p>\n<\/td>\n | \n \n1<\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \n3.0%<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n16,500<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nPSA Neg. \/ Accepted Offer<\/p>\n<\/td>\n | \n \n2<\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \n4.3%<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n14,600<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nTotal<\/p>\n<\/td>\n | \n 7<\/b><\/p>\n<\/td>\n | \u00a0<\/td>\n | \n 6.9%<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 7<\/b><\/p>\n<\/td>\n | \n –<\/b><\/p>\n<\/td>\n | \u00a0<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 146,950<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n Remaining Partially Stabilized Sales Parcels<\/b><\/p>\n<\/td>\n | \n 5<\/b><\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 2<\/b><\/p>\n<\/td>\n | \n 3<\/b><\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n Pads<\/b><\/p>\n<\/td>\n | \n Number<\/b><\/p>\n<\/td>\n | \u00a0<\/td>\n | \n Cap<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 2023 Sales<\/b><\/p>\n<\/td>\n | \n 2024 & Beyond Sales<\/b><\/p>\n<\/td>\n | \u00a0<\/td>\n | \n Gross Proceeds<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \nClosed since April 4, 2023<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \nN\/A<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nUnder Contract – No DD<\/p>\n<\/td>\n | \n \n2<\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \n5.7%<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n7,015<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nUnder Contract – In DD<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \nN\/A<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nPSA Neg. \/ Accepted Offer<\/p>\n<\/td>\n | \n \n1<\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \n5.3%<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n2,857<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nTotal<\/p>\n<\/td>\n | \n 3<\/b><\/p>\n<\/td>\n | \u00a0<\/td>\n | \n 5.5%<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 3<\/b><\/p>\n<\/td>\n | \n –<\/b><\/p>\n<\/td>\n | \u00a0<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 9,872<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n Remaining Pad Sales Parcels<\/b><\/p>\n<\/td>\n | \n 2<\/b><\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 2<\/b><\/p>\n<\/td>\n | \n –<\/b><\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n Joint Ventures<\/b><\/p>\n<\/td>\n | \n Number<\/b><\/p>\n<\/td>\n | \u00a0<\/td>\n | \n PSF<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 2023 Sales<\/b><\/p>\n<\/td>\n | \n 2024 & Beyond Sales<\/b><\/p>\n<\/td>\n | \u00a0<\/td>\n | \n Gross Proceeds<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \nClosed since April 4, 2023<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nUnder Contract – No DD<\/p>\n<\/td>\n | \n \n4<\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n174.24<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n4<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n106,515<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nUnder Contract – In DD<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \nN\/A<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nPSA Neg. \/ Accepted Offer<\/p>\n<\/td>\n | \n \n4<\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n44.63<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n4<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n35,000<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nTotal<\/p>\n<\/td>\n | \n 8<\/b><\/p>\n<\/td>\n | \u00a0<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 101.40<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 8<\/b><\/p>\n<\/td>\n | \n –<\/b><\/p>\n<\/td>\n | \u00a0<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 141,515<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n Remaining Joint Venture Sales Parcels<\/b><\/p>\n<\/td>\n | \n 7<\/b><\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 2<\/b><\/p>\n<\/td>\n | \n 5<\/b><\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\n| \n Non-Income Producing<\/b><\/p>\n<\/td>\n | \n Number<\/b><\/p>\n<\/td>\n | | \n\n PSF<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Per Acre<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Carry Cost<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 2023 Sales<\/b><\/p>\n<\/td>\n | \n 2024 & Beyond Sales<\/b><\/p>\n<\/td>\n | | \n\n Gross Proceeds<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \nClosed since April 4, 2023<\/p>\n<\/td>\n | \n \n4<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n33.77<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n457<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n(1,601<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n4<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | | \n\n \n21,125<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nUnder Contract – No DD (3)<\/p>\n<\/td>\n | \n \n7<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n142.25<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n1,481<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n(4,200<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n5<\/p>\n<\/td>\n | \n \n2<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | | \n\n \n136,055<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nUnder Contract – In DD<\/p>\n<\/td>\n | \n \n2<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n38.92<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n491<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n(854<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n2<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | | \n\n \n11,000<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nPSA Neg. \/ Accepted Offer<\/p>\n<\/td>\n | \n \n8<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n41.81<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n491<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n(2,392<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n6<\/p>\n<\/td>\n | \n \n2<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | | \n\n \n50,239<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nTotal<\/p>\n<\/td>\n | \n 21<\/b><\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 74.13<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 831<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n (9,047<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | \n 17<\/b><\/p>\n<\/td>\n | \n 4<\/b><\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | | \n\n 218,419<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n Remaining Non-Income
\n
Producing Sales Parcels<\/b><\/p>\n<\/td>\n | \n 16<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 7<\/b><\/p>\n<\/td>\n | \n 9<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n(1) 2023 and 2024 sales projections are based on the Company\u2019s latest forecasts and assumptions, but the Company cautions that actual results may differ materially<\/p>\n \n(2) Remaining Stabilized Sales Parcels includes one asset under contract as of April 4, 2023 that was subsequently terminated<\/p>\n \n(3) Gross sales price per square foot excludes one asset which is land only<\/p>\n \n\n| \n \n\u00a0<\/p>\n<\/td>\n | \n As of January
\n
1, 2023<\/b><\/p>\n<\/td>\n | \n 2023 Sales Projections as of May 9, 2023<\/b><\/p>\n<\/td>\n | \n 2024 & Beyond Sales Projections as of
\n
May 9, 2023<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n Category<\/b><\/p>\n<\/td>\n | \n Sales Portfolio<\/b><\/p>\n<\/td>\n | \n Sold<\/b><\/p>\n<\/td>\n | \n Under
\n
Contract –
\n
No DD<\/b><\/p>\n<\/td>\n | \n Under
\n
Contract – in
\n
DD<\/b><\/p>\n<\/td>\n | \n PSA Neg. \/
\n
Accepted
\n
Offer<\/b><\/p>\n<\/td>\n | \n Pipeline<\/b><\/p>\n<\/td>\n | \n Under
\n
Contract – No
\n
DD<\/b><\/p>\n<\/td>\n | \n PSA Neg. \/
\n
Accepted
\n
Offer<\/b><\/p>\n<\/td>\n | \n Pipeline<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \nGateway markets<\/p>\n<\/td>\n | \n \n11<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n1<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n1<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n9<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nPrimary markets<\/p>\n<\/td>\n | \n \n43<\/p>\n<\/td>\n | \n \n11<\/p>\n<\/td>\n | \n \n8<\/p>\n<\/td>\n | \n \n1<\/p>\n<\/td>\n | \n \n4<\/p>\n<\/td>\n | \n \n11<\/p>\n<\/td>\n | \n \n1<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n7<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nSecondary markets<\/p>\n<\/td>\n | \n \n35<\/p>\n<\/td>\n | \n \n14<\/p>\n<\/td>\n | \n \n6<\/p>\n<\/td>\n | \n \n1<\/p>\n<\/td>\n | \n \n7<\/p>\n<\/td>\n | \n \n3<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n1<\/p>\n<\/td>\n | \n \n3<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nTertiary markets<\/p>\n<\/td>\n | \n \n16<\/p>\n<\/td>\n | \n \n6<\/p>\n<\/td>\n | \n \n2<\/p>\n<\/td>\n | \n \n2<\/p>\n<\/td>\n | \n \n2<\/p>\n<\/td>\n | \n \n3<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n1<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n<\/tr>\n | \n| \n Market Composition
\n
Total<\/b><\/p>\n<\/td>\n | \n 105<\/b><\/p>\n<\/td>\n | \n 31<\/b><\/p>\n<\/td>\n | \n 17<\/b><\/p>\n<\/td>\n | \n 4<\/b><\/p>\n<\/td>\n | \n 13<\/b><\/p>\n<\/td>\n | \n 17<\/b><\/p>\n<\/td>\n | \n 2<\/b><\/p>\n<\/td>\n | \n 2<\/b><\/p>\n<\/td>\n | \n 19<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nMulti-Tenant Retail<\/p>\n<\/td>\n | \n \n32<\/p>\n<\/td>\n | \n \n18<\/p>\n<\/td>\n | \n \n6<\/p>\n<\/td>\n | \n \n1<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n4<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n3<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nPremier<\/p>\n<\/td>\n | \n \n10<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n1<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n1<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n8<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nResidential<\/p>\n<\/td>\n | \n \n5<\/p>\n<\/td>\n | \n \n2<\/p>\n<\/td>\n | \n \n1<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n2<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nOther Unconsolidated
\n
Entities<\/p>\n<\/td>\n | \n \n13<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n3<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n4<\/p>\n<\/td>\n | \n \n2<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n4<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nNon-Core Properties<\/p>\n<\/td>\n | \n \n45<\/p>\n<\/td>\n | \n \n11<\/p>\n<\/td>\n | \n \n6<\/p>\n<\/td>\n | \n \n3<\/p>\n<\/td>\n | \n \n9<\/p>\n<\/td>\n | \n \n11<\/p>\n<\/td>\n | \n \n1<\/p>\n<\/td>\n | \n \n2<\/p>\n<\/td>\n | \n \n2<\/p>\n<\/td>\n<\/tr>\n | \n| \n Property Type Total<\/b><\/p>\n<\/td>\n | \n 105<\/b><\/p>\n<\/td>\n | \n 31<\/b><\/p>\n<\/td>\n | \n 17<\/b><\/p>\n<\/td>\n | \n 4<\/b><\/p>\n<\/td>\n | \n 13<\/b><\/p>\n<\/td>\n | \n 17<\/b><\/p>\n<\/td>\n | \n 2<\/b><\/p>\n<\/td>\n | \n 2<\/b><\/p>\n<\/td>\n | \n 19<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nUnder $10M<\/p>\n<\/td>\n | \n \n57<\/p>\n<\/td>\n | \n \n20<\/p>\n<\/td>\n | \n \n5<\/p>\n<\/td>\n | \n \n2<\/p>\n<\/td>\n | \n \n10<\/p>\n<\/td>\n | \n \n12<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n2<\/p>\n<\/td>\n | \n \n6<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n$10M – $30M<\/p>\n<\/td>\n | \n \n29<\/p>\n<\/td>\n | \n \n10<\/p>\n<\/td>\n | \n \n8<\/p>\n<\/td>\n | \n \n2<\/p>\n<\/td>\n | \n \n3<\/p>\n<\/td>\n | \n \n3<\/p>\n<\/td>\n | \n \n1<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n2<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n$30M – $50M<\/p>\n<\/td>\n | \n \n11<\/p>\n<\/td>\n | \n \n1<\/p>\n<\/td>\n | \n \n2<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n2<\/p>\n<\/td>\n | \n \n1<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n5<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nOver $50M<\/p>\n<\/td>\n | \n \n8<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n2<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n6<\/p>\n<\/td>\n<\/tr>\n | \n| \n Transaction Size Total<\/b><\/p>\n<\/td>\n | \n 105<\/b><\/p>\n<\/td>\n | \n 31<\/b><\/p>\n<\/td>\n | \n 17<\/b><\/p>\n<\/td>\n | \n 4<\/b><\/p>\n<\/td>\n | \n 13<\/b><\/p>\n<\/td>\n | \n 17<\/b><\/p>\n<\/td>\n | \n 2<\/b><\/p>\n<\/td>\n | \n 2<\/b><\/p>\n<\/td>\n | \n 19<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n(1) 2023 and 2024 sales projections are based on the Company\u2019s latest forecasts and assumptions, but the Company cautions that actual results may differ materially.<\/p>\n \n(2) Includes both partial and full asset transactions currently being forecasted by Seritage. At January 1, 2023, the Company had an interest in 97 properties. It is currently projected that seven of these properties will be parceled and sold in two or more separate transactions each, which is subject to change, resulting in a total portfolio count of 105 transactions at this time.<\/p>\n Portfolio<\/span><\/b><\/p>\n\nThe table below represents a summary of the Company\u2019s properties by planned usage as of March 31, 2023:<\/p>\n \n(in thousands except number of leases and acreage data)<\/p>\n \n\n| \n Planned Usage<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Total<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Built SF \/ Acreage (1)<\/sup><\/b><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n Leased SF (1)(2)<\/sup><\/b><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n Avg. Acreage \/ Site<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n Consolidated<\/i><\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nMulti-Tenant Retail<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n13<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2,019 sf \/ 198 acres<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,534<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n15.2<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nResidential (3)<\/sup><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n2<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n33 sf \/ 19 acres<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n33<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n9.5<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nPremier<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n5<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n235 sf \/ 99 acres<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n163<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n19.7<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nNon-Core (4)<\/sup><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n35<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n5,292 sf \/ 428 acres<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n325<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n12.2<\/p>\n<\/td>\n<\/tr>\n | \n| \n Unconsolidated<\/i><\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nOther Entities<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n13<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,106 sf \/ 185 acres<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n278<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n14.2<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nResidential (3)<\/sup><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n1<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n49 sf \/ 12 acres<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n32<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n11.7<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nPremier<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n3<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n158 sf \/ 57 acres<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n106<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n19.0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n(1) Square footage is presented at the Company\u2019s proportional share.<\/p>\n \n(2) Based on signed leases at March 31, 2023.<\/p>\n \n(3) Square footage represents built ancillary retail space whereas acreage represents both retail and residential acreage.<\/p>\n \n(4) Represents assets the Company previously designated for sale.<\/p>\n Multi-Tenant Retail<\/span><\/b><\/p>\n\nDuring the three months ended March 31, 2023, the Company invested $4.1 million in its multi-tenant retail properties. The remaining capital expenditures in the multi-tenant retail portfolio are primarily comprised of tenant improvements.<\/p>\n \nThe table below provides a summary of all Multi-Tenant Retail signed leases as of March 31, 2023, including unconsolidated entities at the Company\u2019s proportional share:<\/p>\n \n\n| \n \n(in thousands except number of leases and PSF data)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Number of<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Leased<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n % of Total<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Gross Annual
\n
Base<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n % of<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Gross Annual<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n Tenant<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Leases<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n GLA<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Leasable GLA<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Rent (“ABR”)<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Total ABR<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Rent PSF
\n
(“ABR PSF”)<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \nIn-place retail leases<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n55<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,374<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n68.1<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n30,014<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n90.7<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n21.84<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nSNO retail leases (1)<\/sup><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n9<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n160<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n7.9<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n3,085<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n9.3<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n19.28<\/p>\n<\/td>\n<\/tr>\n | \n| \n Total retail leases<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 64<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 1,534<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 76.0<\/b><\/p>\n<\/td>\n | \n %<\/b><\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 33,099<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 100.0<\/b><\/p>\n<\/td>\n | \n %<\/b><\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 21.58<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \n(1) SNO = signed not yet opened leases.<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nDuring the three months ended March 31, 2023, the Company signed new leases at its retail properties totaling approximately 76 thousand square feet at an average base rent of $10.54 PSF stabilized net. Additionally, the Company generated a leasing pipeline of over 100 thousand square feet. The Company has 1.4 million leased square feet and approximately 160 thousand square feet signed but not opened. Seritage has total occupancy of 76.0% for its multi-tenant retail properties. As of March 31, 2023, there is an additional approximately 484 thousand square feet available for lease.<\/p>\n \n\n| \n \n(in thousands except number of leases and PSF data)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Number of
\n
SNO Leases<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n GLA<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n ABR<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Annual
\n
Rent PSF<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n As of December 31, 2022<\/i><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n15<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n141<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n3,355<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n23.79<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nSold \/ terminated<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(8<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(58<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(1,071<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n18.47<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nSigned<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n76<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n801<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n10.54<\/p>\n<\/td>\n<\/tr>\n | \n| \n As of March 31, 2023<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 9<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 159<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 3,085<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 19.28<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n Premier Mixed-Use<\/span><\/b><\/p>\n\nThe Company has three premier mixed-use projects in the active leasing\/tenant opening stage: Aventura, FL, Santa Monica, CA and San Diego, CA. As of March 31, 2023, the Company has 205 thousand in-place leased square feet (112 thousand square feet at share), 171 thousand square feet signed but not opened (157 thousand square feet at share), and 175 thousand square feet available for lease (124 thousand square feet at share).<\/p>\n \nThe table below provides a summary of all signed leases at Premier assets as of March 31, 2023, including unconsolidated entities at the Company\u2019s proportional share:<\/p>\n \n\n| \n \n\u00a0<\/p>\n<\/td>\n | \n Number of<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Leased<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n % of Total<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Net Annual<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n % of Total<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Net Annual<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n Tenant<\/b><\/p>\n<\/td>\n | \n Leases<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n GLA<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Leasable GLA<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Base Rent<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Annual Rent<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Rent PSF<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \nIn-place retail leases<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n22<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n50<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n12.8<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n3,215<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n17.6<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n64.30<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nIn-place office leases<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n62<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n15.7<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n4,220<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n23.2<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n68.06<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nSNO retail leasesas of December 31, 2022(1)<\/sup><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n27<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n111<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n8,612<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n77.59<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nOpened<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(6<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(8<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(503<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n62.88<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nSigned<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n8<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n570<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n71.25<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nSNO retail leases as of March 31, 2023(1)<\/sup><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n22<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n111<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n28.2<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n8,679<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n47.6<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n78.19<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nSNO office leases as of December 31, 2022(1)<\/sup><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n4<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n108<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n6,329<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n58.60<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nOpened<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(1<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(62<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n(4,220<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n68.06<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nSNO retail leases as of March 31, 2023(1)<\/sup><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n3<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n46<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n11.8<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n2,109<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n11.6<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n45.85<\/p>\n<\/td>\n<\/tr>\n | \n| \n Total diversified leases as of March 31, 2023<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 48<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 270<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 68.5<\/b><\/p>\n<\/td>\n | \n %<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 18,223<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 100.0<\/b><\/p>\n<\/td>\n | \n %<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 67.49<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \n(1) SNO = Signed not yet opened leases<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(2) In thousands except number of leases and PSF data<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nDuring the three months ended March 31, 2023, the Company invested $27.2 million in its consolidated development and operating properties and an additional $2.8 million into its unconsolidated entities.<\/p>\n Aventura<\/b><\/p>\n \nDuring the first quarter of 2023, the Company continued to advance 216 thousand square feet of office and retail leasing at the project in Aventura, FL. The Company is finalizing construction on the asset and remains on track to open its first tenants to the public in the second quarter of 2023, with rolling openings thereafter.<\/p>\n \nDuring the quarter ended March 31, 2023, the Company signed one new lease totaling eight thousand square feet at an average base rent of $71.25 PSF stabilized net and has 144 thousand square feet signed but not opened. With occupancy at 66.6%, the Company has 72 thousand square feet available for lease, of which one thousand square feet is in lease negotiation and has leasing activity on over an additional 71 thousand square feet.<\/p>\n Financial Summary<\/span><\/b><\/p>\n\nThe table below provides a summary of the Company\u2019s financial results for the three months ended March 31, 2023:<\/p>\n \n\n| \n \n(in thousands except per share amounts)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Three Months Ended<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n March 31, 2023<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n March 31, 2022<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nNet loss attributable to Seritage
\n
\u00a0\u00a0\u00a0common shareholders<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n(63,211<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n(53,430<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nNet loss per share attributable to Seritage
\n
\u00a0\u00a0\u00a0common shareholders<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(1.13<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(1.22<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| \n Total NOI<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n3,104<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n10,493<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nFor the quarter ended March 31, 2023:<\/p>\n \n- \nTotal NOI for the first quarter of 2023 reflects the impact of $0.5 million Total NOI relating to sold properties.<\/p>\n<\/li>\n<\/ul>\n
Total NOI is comprised of:<\/b><\/p>\n\n\n| \n \n(in thousands)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Three Months Ended March 31,<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nConsolidated Properties<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 2023<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 2022<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \nMulti-tenant retail<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n6,432<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n6,205<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nPremier<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(1,441<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(1,400<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nResidential<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(735<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(717<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nNon-Core<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(2,317<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(687<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nSold<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(352<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n5,568<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nTotal<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,587<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n8,969<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nUnconsolidated Properties<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nResidential<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n9<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(289<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nPremier<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n331<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(209<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nOther joint ventures<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,177<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2,022<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nTotal<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,517<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,524<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n Total NOI<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n3,104<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n10,493<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nAs of March 31, 2023, the Company had cash on hand of $132.1 million, including $11.6 million of restricted cash. The Company expects to use these sources of liquidity, together with a combination of future sales and\/or potential debt and capital markets transactions, to pay its financing obligations and fund its operations and development activity. The availability of funding from sales of assets, partnerships and credit or capital markets transactions is subject to various conditions, and there can be no assurance that such transactions will be consummated. For more information on our liquidity position, including our going concern analysis, please see the notes to the consolidated financial statements included in Part I, Item 1 and in the section titled \u201cManagement\u2019s Discussion and Analysis of Financial Condition and Results of Operations,\u201d each in our Quarterly Report on Form 10-Q.<\/p>\n Dividends<\/span><\/b><\/p>\n\nOn February 15, 2023, the Company\u2019s Board of Trustees declared a preferred stock dividend of $0.4375 per each Series A Preferred Share. The preferred dividend was be paid on April 17, 2023 to holders of record on March 31, 2023.<\/p>\n \nOn April 27, 2023, the Company\u2019s Board of Trustees declared a preferred stock dividend of $0.4375 per each Series A Preferred Share. The preferred dividend will be paid on July 14, 2023 to holders of record on June 30, 2023.<\/p>\n \nThe Company\u2019s Board of Trustees does not expect to declare dividends on its common shares until such time as the Term Loan Facility has been repaid in full.<\/p>\n
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