v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
ASSETS    
Investment in real estate, net $ 990,775 $ 1,004,858
Investment in unconsolidated joint ventures 70,274 66,052
Cash and cash equivalents 117,315 129,614
Other assets 91,581 73,782
Property and equipment, net of accumulated depreciation of $112,969 and $105,175 as of June 30, 2026 and December 31, 2025, respectively 35,981 41,314
Investments held by special purpose entities 202,421 202,806
Total assets 1,508,347 1,518,426
Liabilities:    
Debt, net 370,324 391,159
Accounts payable and other liabilities 63,687 48,297
Deferred revenue 62,370 58,663
Deferred tax liabilities, net 60,003 65,861
Senior Notes held by special purpose entity 178,996 178,821
Total liabilities 735,380 742,801
Commitments and contingencies (Note 17)
Equity:    
Common stock, no par value; 180,000,000 shares authorized; 57,572,323 and 57,547,307 issued at June 30, 2026 and December 31, 2025, respectively; and 56,991,651 and 57,547,307 outstanding at June 30, 2026 and December 31, 2025, respectively 230,176 229,506
Retained earnings 572,259 536,190
Accumulated other comprehensive income 463 594
Treasury stock at cost, 580,672 shares held at June 30, 2026 (38,437)  
Total stockholders' equity 764,461 766,290
Non-controlling interest 8,506 9,335
Total equity 772,967 775,625
Total liabilities and equity $ 1,508,347 $ 1,518,426