v3.26.1
Real Estate (Tables)
 6 Months Ended
Jun. 30, 2026
Real Estate [Abstract]  
Schedule of Properties Acquired and Current Properties The following table presents the Company's real estate portfolio as of June 30, 2026 (in thousands):
TenantMarketSite TypeLandBuilding and ImprovementsTotal Real EstateAccumulated DepreciationNet Real Estate
AcreageMassachusetts Cultivation$481 $9,310 $9,791 $(1,849)$7,942 
AcreagePennsylvaniaCultivation952 9,209 10,161 (1,765)8,396 
Bud'rConnecticutDispensary395 534 929 (120)809 
C3 IndustriesMissouriCultivation948 28,069 29,017 (2,509)26,508 
Calypso EnterprisesPennsylvaniaCultivation1,486 30,527 32,013 (4,044)27,969 
The Cannabist CompanyIllinoisDispensary162 1,053 1,215 (171)1,044 
The Cannabist CompanyIllinoisCultivation801 10,560 11,361 (1,740)9,621 
The Cannabist CompanyMassachusettsDispensary108 2,212 2,320 (393)1,927 
The Cannabist CompanyMassachusettsCultivation1,136 12,690 13,826 (2,831)10,995 
CODESArkansasDispensary238 1,919 2,157 (338)1,819 
CODESMissouriCultivation204 20,897 21,101 (4,888)16,213 
Cresco LabsIllinoisCultivation276 50,456 50,732 (9,348)41,384 
Cresco LabsOhioDispensary146 729 875 (13)862 
Cresco LabsOhioDispensary182 809 991 (17)974 
CuraleafConnecticutDispensary184 2,746 2,930 (485)2,445 
CuraleafFloridaCultivation388 75,595 75,983 (11,892)64,091 
CuraleafIllinoisDispensary69 525 594 (96)498 
CuraleafIllinoisDispensary574 2,788 3,362 (587)2,775 
CuraleafIllinoisDispensary606 1,128 1,734 (209)1,525 
CuraleafNorth DakotaDispensary779 1,395 2,174 (246)1,928 
CuraleafOhioDispensary281 3,072 3,353 (536)2,817 
CuraleafPennsylvaniaDispensary877 1,041 1,918 (245)1,673 
CuraleafPennsylvaniaDispensary216 2,010 2,226 (352)1,874 
CuraleafPennsylvaniaDispensary70 880 950 (37)913 
MintArizonaCultivation3,574 18,236 21,810 (891)20,919 
PharmaCannMassachusettsDispensary411 1,701 2,112 (545)1,567 
PharmaCannOhioDispensary281 1,269 1,550 (133)1,417 
PharmaCannPennsylvaniaDispensary44 1,271 1,315 (206)1,109 
TrulievePennsylvaniaCultivation1,061 43,209 44,270 (8,430)35,840 
WellgreensCaliforniaDispensary1,082 2,692 3,774 (456)3,318 
Available for LeaseNevadaCultivation1,002 12,577 13,579 (1,515)12,064 
Available for LeasePennsylvaniaCultivation2,963 12,315 15,278 (1,675)13,603 
Available for LeaseMassachusetts Cultivation926 41,934 42,860 (6,092)36,768 
Total Real Estate(1)(2)
$22,903 $405,358 $428,261 $(64,654)$363,607 
(1) This table does not include one property held for sale.
(2) At times, numbers in this table may differ due to rounding.
The following table presents the real estate acquisitions for the year ended December 31, 2025 (in thousands):
TenantMarketSite TypeClosing DateReal Estate Acquisition Costs
Cresco LabsOhioDispensaryFebruary 19, 2025$285 
Cresco LabsOhioDispensaryApril 25, 2025500 
Curaleaf(1)PennsylvaniaDispensaryJune 12, 2025950 
Total$1,735 
(1) This dispensary was acquired through a like-kind exchange and was recorded at its fair value. For further details, refer to the "2025 Disposition" section below.
Schedule of Tenant Improvements Funded
The following table presents the funded commitments and remaining unfunded commitments as of June 30, 2026 (in thousands):
TenantMarketSite TypeClosing DateFunded CommitmentsUnfunded Commitments
Cresco LabsOhioDispensaryApril 25, 2025375 — 
Total$375 $— 
The following table presents the funded commitments and the remaining unfunded commitments for the year ended December 31, 2025 (in thousands):
TenantMarketSite TypeClosing DateFunded CommitmentsUnfunded Commitments
Cresco LabsOhioDispensaryFebruary 19, 2025$705 $— 
Cresco LabsOhioDispensaryApril 25, 2025— 375 
Total $705 $375 
Schedule of Future Amortization Expense
The following table presents the future amortization of the Company’s acquired in-place leases as of June 30, 2026 (in thousands):
YearAmortization Expense
2026 (six months ending December 31, 2026)$984 
20271,969 
20281,969 
20291,969 
20301,790 
Thereafter6,044 
Total$14,725