v3.25.4
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
ASSETS    
  Real estate properties  $ 5,989,788 $ 5,503,444
Development and value-add properties [1] 710,200 674,472
Real estate, development and value-add properties 6,699,988 6,177,916
      Accumulated depreciation  (1,583,532) (1,415,576)
Real estate, development and value-add properties, net 5,116,456 4,762,340
  Unconsolidated investment  7,007 7,448
Cash and cash equivalents 1,007 17,529
  Other assets, net 307,337 290,159
      TOTAL ASSETS  5,431,807 5,077,476
LIABILITIES    
  Unsecured bank credit facilities, net of debt issuance costs 16,249 (3,595)
Unsecured debt, net of debt issuance costs 1,611,026 1,507,157
  Accounts payable and accrued expenses  169,945 147,342
  Other liabilities  137,999 134,028
Total Liabilities 1,935,219 1,784,932
Stockholders’ Equity:    
Common shares; $.0001 par value; 70,000,000 shares authorized; 53,348,800 shares issued and outstanding at December 31, 2025 and 51,825,798 at December 31, 2024 5 5
Excess shares; $0.0001 par value; 30,000,000 shares authorized; no shares issued 0 0
  Additional paid-in capital 3,946,792 3,673,393
  Distributions in excess of earnings  (458,953) (403,172)
Accumulated other comprehensive income 8,357 21,953
Total Stockholders’ Equity 3,496,201 3,292,179
Noncontrolling interest in joint ventures 387 365
Total Equity 3,496,588 3,292,544
     TOTAL LIABILITIES AND EQUITY  $ 5,431,807 $ 5,077,476
BALANCE SHEET PARENTHETICAL DISCLOSURES    
Common shares, outstanding 53,348,800 51,825,798
Common shares, issued 53,348,800 51,825,798
Common shares, authorized 70,000,000 70,000,000
Common shares, par value (in dollars per share) $ 0.0001 $ 0.0001
Excess shares, par value $ 0.0001 $ 0.0001
Excess Stock, Shares Authorized 30,000,000 30,000,000
Excess Stock, Shares Issued 0 0
[1] Value-add properties are defined in Note 1(e).