v3.26.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Real estate properties:    
Land $ 706,623 $ 711,039
Buildings and improvements 2,970,072 2,946,520
Total real estate properties, gross 3,676,695 3,657,559
Accumulated depreciation (729,543) (618,650)
Total real estate properties, net 2,947,152 3,038,909
Assets of properties held for sale 0 32,199
Investment in unconsolidated joint venture 16,965 17,370
Acquired real estate leases, net 150,254 193,739
Cash and cash equivalents 29,486 261,318
Restricted cash 51,175 13,847
Deferred leasing costs, net 98,268 97,642
Other assets, net 30,951 11,594
Total assets 3,488,596 3,822,286
LIABILITIES AND SHAREHOLDERS’ EQUITY    
Unsecured debt, net 0 662,277
Secured debt, net 889,557 1,872,357
Liabilities of properties held for sale 0 765
Accounts payable and other liabilities 126,856 118,689
Due to related persons 4,689 5,869
Assumed real estate lease obligations, net 8,374 9,525
Total liabilities not subject to compromise 1,029,476 2,669,482
Liabilities subject to compromise 1,578,133 0
Total liabilities 2,607,609 2,669,482
Commitments and contingencies
Shareholders’ equity:    
Common shares of beneficial interest, $.01 par value: 250,000,000 shares authorized, 73,941,128 and 69,824,743 shares issued and outstanding, respectively 739 698
Additional paid in capital 2,658,471 2,656,548
Cumulative net loss (308,307) (35,933)
Cumulative common distributions (1,469,916) (1,468,509)
Total shareholders’ equity 880,987 1,152,804
Total liabilities and shareholders’ equity 3,488,596 3,822,286
Related Party    
Real estate properties:    
Rents receivable 164,114 155,668
Nonrelated Party    
Real estate properties:    
Rents receivable $ 231 $ 0