v3.25.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Assets    
Land $ 1,789,207 $ 1,722,526
Buildings and improvements 11,763,017 11,319,460
Real estate assets, at cost, total 13,552,224 13,041,986
Accumulated depreciation (5,128,622) (4,867,422)
Net operating real estate assets 8,423,602 8,174,564
Properties under development and land 380,437 401,542
Total real estate assets 8,804,039 8,576,106
Accounts receivable – affiliates 8,889 8,991
Other assets, net 262,100 234,838
Cash and cash equivalents 33,091 21,045
Restricted cash 11,454 11,164
Total assets 9,119,573 8,852,144
Liabilities    
Unsecured notes payable 3,495,487 3,155,233
Secured notes payable 330,476 330,358
Accounts payable and accrued expenses 206,018 215,179
Accrued real estate taxes 91,954 78,529
Distributions payable 116,007 113,549
Other liabilities 219,635 212,107
Total liabilities 4,459,577 4,104,955
Commitments and contingencies (Note 10)
Equity    
Common shares of beneficial interest; $0.01 par value per share; 175,000,000 shares authorized; 117,737,746 and 117,737,740 issued at June 30, 2025 and December 31, 2024, respectively; 115,701,951 and 115,779,233 outstanding at June 30, 2025 and December 31, 2024, respectively 1,157 1,158
Additional paid-in capital 5,941,893 5,930,729
Distributions in excess of net income attributable to common shareholders (1,007,075) (897,931)
Treasury shares, at cost (8,849,075 and 9,091,081 common shares at June 30, 2025 and December 31, 2024, respectively) (350,166) (359,732)
Accumulated other comprehensive income 1,676 974
Total common equity 4,587,485 4,675,198
Non-controlling interests 72,511 71,991
Total equity 4,659,996 4,747,189
Total liabilities and equity $ 9,119,573 $ 8,852,144