v3.25.4
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
ASSETS    
Real estate portfolio, net of accumulated depreciation and amortization $ 9,239,542 $ 8,746,168
Cash and cash equivalents 5,046 8,731
Restricted cash and cash held in escrow 776 331
Receivables, net of allowance of $609 and $617, respectively 3,470 2,975
Accrued rental income, net of allowance of $3,393 and $4,156, respectively 34,914 34,005
Debt costs, net of accumulated amortization of $29,930 and $27,002, respectively 8,645 8,958
Other assets 86,962 71,560
Total assets 9,379,355 8,872,728
Liabilities:    
Line of credit payable 348,100 0
Notes payable, net of unamortized discount and unamortized debt costs 4,472,324 4,373,803
Accrued interest payable 40,557 29,699
Other liabilities 110,072 106,951
Total liabilities 4,971,053 4,510,453
Commitments and contingencies (Note 13)
Stockholders’ equity:    
Common stock, $0.01 par value. Authorized 375,000,000 shares; 189,937,404 and 187,540,929 shares issued and outstanding, respectively 1,901 1,877
Capital in excess of par value 5,295,434 5,197,644
Accumulated deficit (882,712) (829,287)
Accumulated other comprehensive income (loss) (6,321) (7,959)
Total equity 4,408,302 4,362,275
Total liabilities and equity $ 9,379,355 $ 8,872,728