v3.25.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Assets:    
Real estate, at cost $ 4,134,987 $ 4,176,294
Real estate - intangible assets 314,431 318,444
Land held for development 82,920 82,827
Investments in real estate under construction 17,500 5,947
Real estate, gross 4,549,838 4,583,512
Less: accumulated depreciation and amortization 1,070,872 1,047,166
Real estate, net 3,478,966 3,536,346
Assets held for sale 8,050 0
Right-of-use assets, net 15,364 16,484
Cash and cash equivalents 70,935 101,836
Restricted cash 242 237
Investments in non-consolidated entities 39,264 40,018
Deferred expenses, net 39,098 39,820
Rent receivable – current 2,361 2,052
Rent receivable – deferred 83,213 85,757
Other assets 22,021 20,762
Total assets 3,759,514 3,843,312
Liabilities:    
Mortgages and notes payable, net 53,602 54,930
Term loan payable, net 248,397 297,814
Senior notes payable, net 1,089,892 1,089,373
Trust preferred securities, net 127,918 127,893
Dividends payable 41,354 41,164
Liabilities held for sale 219 0
Operating lease liabilities 15,860 17,114
Accounts payable and other liabilities 46,247 57,055
Accrued interest payable 15,349 10,517
Deferred revenue - including below-market leases, net 5,632 6,751
Prepaid rent 18,190 19,918
Total liabilities 1,662,660 1,722,529
Commitments and contingencies
Equity:    
Preferred shares, par value $0.0001 per share; authorized 100,000,000 shares: Series C Cumulative Convertible Preferred, liquidation preference $96,770; 1,935,400 shares issued and outstanding 94,016 94,016
Common shares, par value $0.0001 per share; authorized 600,000,000 shares, 295,728,056 and 294,499,790 shares issued and outstanding in 2025 and 2024, respectively 30 29
Additional paid-in-capital 3,317,057 3,315,104
Accumulated distributions in excess of net income (1,339,223) (1,316,993)
Accumulated other comprehensive income 2,926 6,136
Total shareholders’ equity 2,074,806 2,098,292
Noncontrolling interests 22,048 22,491
Total equity 2,096,854 2,120,783
Total liabilities and equity $ 3,759,514 $ 3,843,312