v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Real estate properties:    
Land $ 706,623 $ 706,623
Buildings and improvements 2,975,058 2,970,072
Total real estate properties, gross 3,681,681 3,676,695
Accumulated depreciation (757,540) (729,543)
Total real estate properties, net 2,924,141 2,947,152
Investment in unconsolidated joint venture 17,075 16,965
Acquired real estate leases, net 141,415 150,254
Cash and cash equivalents 26,308 29,486
Restricted cash 61,382 51,175
Deferred leasing costs, net 95,811 98,268
Other assets, net 29,526 30,951
Total assets 3,467,854 3,488,596
LIABILITIES AND SHAREHOLDERS’ EQUITY    
Secured debt, net 968,111 889,557
Accounts payable and other liabilities 129,159 126,856
Due to related persons 4,947 4,689
Assumed real estate lease obligations, net 8,099 8,374
Total liabilities not subject to compromise 1,110,316 1,029,476
Liabilities subject to compromise 1,569,407 1,578,133
Total liabilities 2,679,723 2,607,609
Commitments and contingencies
Shareholders’ equity:    
Common shares of beneficial interest, $.01 par value: 250,000,000 shares authorized, 73,941,128 shares issued and outstanding 739 739
Additional paid in capital 2,658,636 2,658,471
Cumulative net loss (401,328) (308,307)
Cumulative common distributions (1,469,916) (1,469,916)
Total shareholders’ equity 788,131 880,987
Total liabilities and shareholders’ equity 3,467,854 3,488,596
Nonrelated Party    
Real estate properties:    
Rents receivable 171,511 164,114
Related Party    
Real estate properties:    
Rents receivable $ 685 $ 231