v3.25.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Real estate properties:    
Land $ 706,623 $ 711,039
Buildings and improvements 2,946,137 2,946,520
Total real estate properties, gross 3,652,760 3,657,559
Accumulated depreciation (643,089) (618,650)
Total real estate properties, net 3,009,671 3,038,909
Assets of properties held for sale 11,070 32,199
Investment in unconsolidated joint venture 17,118 17,370
Acquired real estate leases, net 180,803 193,739
Cash and cash equivalents 63,745 261,318
Restricted cash 12,909 13,847
Deferred leasing costs, net 99,070 97,642
Other assets, net 23,842 11,594
Total assets 3,569,759 3,822,286
LIABILITIES AND SHAREHOLDERS’ EQUITY    
Unsecured debt, net 488,556 662,277
Secured debt, net 1,872,355 1,872,357
Liabilities of properties held for sale 652 765
Accounts payable and other liabilities 87,499 118,689
Due to related persons 4,815 5,869
Assumed real estate lease obligations, net 9,219 9,525
Total liabilities 2,463,096 2,669,482
Commitments and contingencies
Shareholders’ equity:    
Common shares of beneficial interest, $.01 par value: 250,000,000 authorized, 70,063,086 and 69,824,743 shares issued and outstanding, respectively 701 698
Additional paid in capital 2,656,969 2,656,548
Cumulative net loss (81,800) (35,933)
Cumulative common distributions (1,469,207) (1,468,509)
Total shareholders’ equity 1,106,663 1,152,804
Total liabilities and shareholders’ equity 3,569,759 3,822,286
Nonrelated Party    
Real estate properties:    
Rents receivable 150,678 155,668
Related Party    
Real estate properties:    
Rents receivable $ 853 $ 0