v3.25.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Real estate, at cost:    
Land and improvements $ 995,504 $ 1,109,172
Buildings and improvements 3,860,105 4,083,937
Construction in progress, including land 340,944 338,333
Real estate, at cost 5,196,553 5,531,442
Less: accumulated depreciation (1,420,865) (1,419,983)
Real estate, net 3,775,688 4,111,459
Cash and cash equivalents 61,432 145,804
Restricted cash 29,530 37,388
Tenant and other receivables 21,372 23,478
Deferred rent receivable 175,709 170,153
Investments in unconsolidated real estate ventures 93,859 93,654
Deferred leasing costs, net 70,684 69,821
Intangible assets, net 52,863 47,000
Other assets, net 117,076 131,318
Assets held for sale 151,082 190,465
TOTAL ASSETS 4,549,295 5,020,540
Liabilities:    
Mortgage loans, net 1,540,670 1,767,173
Revolving credit facility 226,000 85,000
Term loans, net 718,252 717,853
Accounts payable and accrued expenses 81,312 101,096
Other liabilities, net 116,109 115,827
Liabilities related to assets held for sale 956 901
Total liabilities 2,683,299 2,787,850
Commitments and contingencies
Redeemable noncontrolling interests 543,203 423,632
Shareholders' equity:    
Preferred shares, $0.01 par value - 200,000 shares authorized; none issued
Common shares, $0.01 par value - 500,000 shares authorized; 61,945 and 84,500 shares issued and outstanding as of June 30, 2025 and December 31, 2024 620 846
Additional paid-in capital 2,397,255 2,790,403
Accumulated deficit (1,074,678) (997,283)
Accumulated other comprehensive income (loss) (404) 15,092
Total equity 1,322,793 1,809,058
TOTAL LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY $ 4,549,295 $ 5,020,540