MDV · As filed with the SEC
Modiv Industrial balance sheet, by fiscal year
The statement as Modiv Industrial presents it in its 10-Q and 10-K: its own lines, labels and order. Tables over time lines up standardized figures across every filing.
Consolidated Balance Sheets · USD thousands
| USD thousands | FY2025 Dec 31, 2025 | FY2024 Dec 31, 2024 | FY2023 Dec 31, 2023 | FY2022 Dec 31, 2022 | FY2021 Dec 31, 2021 | FY2020 Dec 31, 2020 | FY2019 Dec 31, 2019 | FY2018 Dec 31, 2018 |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Real estate investments: | ||||||||
| Land | 98,175 | 98,009 | 104,858.69 | 103,657.24 | 61,005.40 | 65,358.32 | 86,775.99 | 41,126.39 |
| Buildings and improvements | 383,540 | 386,102 | 399,666.78 | 329,867.10 | 250,723.45 | 272,397.47 | 309,904.89 | 176,367.80 |
| Equipment | 0 | 4,429 | 4,429 | 4,429 | — | — | — | — |
| Tenant origination and absorption costs | 13,638 | 13,194 | 15,707.46 | 19,499.75 | 21,504.21 | 23,792.06 | 27,266.61 | 17,717.82 |
| Total investments in real estate property | 495,353 | 501,734 | 524,661.93 | 457,453.09 | 333,233.06 | 361,547.85 | 423,947.49 | 235,212.01 |
| Accumulated depreciation and amortization | (73,208) | (59,524) | (50,901.61) | (46,752.32) | (37,611.13) | (32,091.21) | (20,411.79) | (10,563.66) |
| Total real estate investments, net, excluding unconsolidated investment in real estate property and real estate investments held for sale, net | 422,145 | 442,210 | 473,760.32 | 410,700.76 | 295,621.93 | 329,456.64 | 403,535.69 | 224,648.35 |
| Unconsolidated investment in a real estate property | — | — | — | 10,007.42 | 9,941.34 | 10,002.37 | 10,388.59 | 14,275.82 |
| Unconsolidated investment in a real estate property | 9,437 | 9,324 | 10,053.93 | — | — | — | — | — |
| Total real estate investments, net, excluding real estate investments held for sale, net | 431,582 | 451,534 | 483,814.25 | 420,708.18 | 305,563.26 | 339,459.01 | 413,924.28 | 238,924.16 |
| Real estate investments held for sale, net | 3,901 | 22,372 | 11,557.69 | 5,255.73 | 31,510.76 | 24,585.74 | — | — |
| Total real estate investments, net | 435,483 | 473,906 | 495,371.94 | 425,963.91 | 337,074.03 | 364,044.75 | — | — |
| Cash and cash equivalents | 14,381 | 11,530 | 3,129.41 | 8,608.65 | 55,965.55 | 8,248.41 | 6,823.57 | 5,252.69 |
| Restricted cash | — | — | — | 0 | 2,441.97 | 129.12 | 113.36 | 3,503.24 |
| Receivable from early termination of lease | — | — | — | 0 | 1,836.77 | 1,824.38 | — | — |
| Tenant receivables | — | — | — | 8,859.33 | 5,996.92 | 6,665.79 | 6,224.76 | 3,659.11 |
| Tenant deferred rent and other receivables | 23,436 | 18,460 | 12,794.57 | — | — | — | — | — |
| Above-market lease intangibles, net | 1,169 | 1,240 | 1,313.96 | 1,850.76 | 691.02 | 820.84 | 1,251.73 | 584.25 |
| Due from affiliates | — | — | — | — | — | 0 | 2.33 | 16.84 |
| Purchase and other deposits | — | — | — | — | — | — | 0 | 100 |
| Prepaid expenses and other assets | 1,988 | 2,693 | 4,173.22 | 6,100.94 | 6,379.10 | 2,171.72 | 1,867.78 | 234.40 |
| Investment in preferred stock | — | 0 | 11,038.66 | — | — | — | — | — |
| Interest rate swap derivative | — | 0 | 2,970.73 | 4,629.70 | — | 0 | 34.57 | 151.22 |
| Other assets related to real estate investments held for sale | — | 0 | 103.34 | 12.77 | 788.30 | 1,079.36 | — | — |
| Operating lease right-of-use asset | — | — | — | — | — | 0 | 2,386.88 | — |
| Goodwill, net | — | — | — | 0 | 17,320.86 | 17,320.86 | 50,588 | — |
| Intangible assets, net | — | — | — | — | 0 | 5,127.79 | 7,700 | — |
| Total assets | 476,457 | 507,829 | 530,895.83 | 456,026.05 | 428,494.50 | 407,433.01 | 490,917.26 | 252,425.90 |
| Liabilities and Equity | ||||||||
| Mortgage notes payable, net | 11,994 | 30,777 | 31,030.24 | 44,435.56 | 152,223.58 | 175,925.92 | 194,039.21 | 122,709.31 |
| Mortgage notes payable related to real estate investments held for sale, net | — | — | — | 0 | 21,699.91 | 9,088.44 | — | — |
| Total mortgage notes payable, net | — | — | — | 44,435.56 | 173,923.49 | 185,014.36 | — | — |
| Credit facility revolver | — | — | 0 | 3,000 | 8,022 | 5,978.28 | 7,649.86 | 8,998 |
| Short-term notes payable | — | — | — | — | — | 0 | 4,800 | — |
| Economic relief note payable | — | — | — | — | 0 | 517 | — | — |
| Credit facility term loan, net | 249,489 | 248,999 | 248,508.52 | 148,018.16 | — | — | — | — |
| Accounts payable, accrued and other liabilities | 3,831 | 4,035 | 4,469.51 | 9,245.93 | 11,844.88 | 7,579.62 | 11,555.16 | 7,164.71 |
| Share repurchases payable | — | — | — | — | — | — | 0 | 584.68 |
| Below-market lease intangibles, net | — | — | — | — | — | — | 14,591.36 | 2,595.38 |
| Share repurchases payable | — | — | — | — | 0 | 2,980.56 | — | — |
| Distributions payable | 2,031 | 1,994 | 12,174.98 | — | — | — | — | — |
| Below-market lease intangibles, net | 7,067 | 7,948 | 8,868.60 | 9,675.69 | 11,102.94 | 12,565.74 | — | — |
| Due to affiliates | — | — | — | — | — | 0 | 630.82 | 979.17 |
| Interest rate swap derivative | — | 0 | 473.35 | 498.87 | 788.02 | 1,743.89 | 1,021.72 | 300.93 |
| Other liabilities related to real estate investments held for sale | 0 | 26 | 248.73 | 117.88 | 383.28 | 801.34 | — | — |
| Operating lease liability | — | — | — | — | — | 0 | 2,386.88 | — |
| Total liabilities | 274,412 | 293,779 | 305,773.92 | 214,992.09 | 206,064.61 | 217,180.78 | 236,675.01 | 143,332.18 |
| Redeemable common stock | — | — | — | — | 0 | 7,365.57 | 14,069.69 | 6,000.95 |
| 7.375% Series A cumulative redeemable perpetual preferred stock, $0.001 par value; $25.00 per share liquidation preference; 2,000,000 shares authorized; 1,725,000 outstanding as of June 30, 2025 and 2,000,000 outstanding as of December 31, 2024 | — | — | — | — | — | 0 | 0 | 0 |
| Series A | 2 | 2 | 2 | 2 | 2 | — | — | — |
| Common Class S | — | — | — | — | — | — | 0.19 | 0.02 |
| Class C common stock | 11 | 10 | 8.05 | 7.76 | 7.43 | 23.62 | 23.65 | 12.94 |
| Class S | — | 0 | 0 | 0 | 0.06 | 0.19 | — | — |
| Additional paid-in-capital | 337,028 | 349,479 | 292,617.49 | 278,339.02 | 273,441.83 | 224,272.54 | 220,714.68 | 119,247.25 |
| Treasury stock, at cost, 467,319 shares held as of each June 30, 2025 and December 31, 2024 | (7,112) | (7,112) | (5,290.78) | (4,161.62) | — | — | — | — |
| Cumulative distributions and net losses | (168,100) | (154,074) | (145,551.59) | (117,938.88) | (101,624.43) | (92,012.69) | (31,168.95) | (16,167.44) |
| Accumulated other comprehensive income | 919 | 1,841 | 2,658.17 | 3,502.62 | — | — | — | — |
| Total Modiv Industrial, Inc. equity | 162,748 | 190,146 | 144,443.34 | 159,750.90 | 171,826.89 | 132,283.67 | 189,569.56 | 103,092.77 |
| Noncontrolling interests in the Operating Partnership | 39,297 | 23,904 | 80,678.57 | 81,283.06 | 50,603 | 50,603 | 50,603 | — |
| Total equity | 202,045 | 214,050 | 225,121.91 | 241,033.96 | 222,429.89 | 182,886.67 | 240,172.56 | — |
| Total liabilities and equity | 476,457 | 507,829 | 530,895.83 | 456,026.05 | 428,494.50 | 407,433.01 | 490,917.26 | 252,425.90 |
As filed on EDGAR · Not affiliated with the U.S. SEC · Not investment advice. Each column links to its filing.