v3.25.1
ORGANIZATION AND BASIS OF PRESENTATION (Tables)
3 Months Ended
Mar. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Real Estate Properties
As of March 31, 2025, the Company’s portfolio consisted of the following:
PropertiesSquare Footage
Operating retail properties(1)
180 27,782,403 
Office properties(2)
412,812 
Development and redevelopment projects:
One Loudoun Expansion— 119,000 
Hamilton Crossing Centre92,283 
Edwards Multiplex – Ontario124,614 
(1)Included within operating retail properties are 10 properties that contain an office component. Excludes two operating retail properties classified as held for sale as of March 31, 2025. Of the 180 operating retail properties, 176 are consolidated within these financial statements and the remaining four are accounted for under the equity method.
(2)Office properties include Carillon medical office building, which was reclassified from active redevelopment into our office portfolio in December 2024.
The following table summarizes the composition of the Company’s investment properties as of March 31, 2025 and December 31, 2024 (in thousands):
March 31, 2025December 31, 2024
Land, buildings and improvements$7,661,948 $7,591,036 
Construction in progress33,268 43,155 
Investment properties, at cost$7,695,216 $7,634,191