v3.25.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Real estate properties:    
Land $ 1,111,011 $ 1,113,711
Buildings and improvements 4,042,004 4,066,674
Total real estate properties, gross 5,153,015 5,180,385
Accumulated depreciation (579,706) (523,886)
Total real estate properties, net 4,573,309 4,656,499
Investment in unconsolidated joint venture 117,854 116,732
Assets of properties held for sale 25,726 0
Acquired real estate leases, net 180,977 199,193
Cash and cash equivalents 58,559 131,706
Restricted cash and cash equivalents 100,506 [1] 110,774
Rents receivable, including straight line rents of $110,055 and $104,730, respectively 130,893 129,162
Other assets, net 50,724 62,265
Total assets 5,238,548 5,406,331
LIABILITIES AND EQUITY    
Mortgages notes payable, net 4,200,314 4,300,537
Assumed real estate lease obligations, net 13,243 14,937
Total liabilities 4,290,784 4,397,001
Commitments and contingencies
Equity:    
Common shares of beneficial interest, $.01 par value: 100,000,000 shares authorized; 66,335,999 and 66,144,308 shares issued and outstanding, respectively 663 661
Additional paid in capital 1,018,474 1,017,382
Cumulative net deficit (129,315) (86,473)
Cumulative other comprehensive loss (899) (1,065)
Cumulative common distributions (369,809) (368,486)
Total equity attributable to common shareholders 519,114 562,019
Noncontrolling interest 428,650 447,311
Total equity 947,764 1,009,330
Total liabilities and equity 5,238,548 5,406,331
Nonrelated Party    
LIABILITIES AND EQUITY    
Liabilities of properties held for sale 337 0
Accounts payable and other liabilities 70,283 76,753
Related Party    
LIABILITIES AND EQUITY    
Accounts payable and other liabilities $ 6,607 $ 4,774
[1] Restricted cash and cash equivalents consist of cash held for the operations of our consolidated joint venture and amounts escrowed as required by the agreements governing certain of our mortgage debt.