v3.26.1
Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities    
Net income $ 4,572 $ 7,537
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 65,379 55,331
Straight line rent (3,561) (49)
Income from unconsolidated real estate venture (3,258) (3,662)
Amortization of above- / below-market leases (870) (1,006)
Amortization of unearned revenue (7,526) (3,625)
Amortization of loan premium / discount (7) (11)
Amortization of deferred financing costs 1,896 1,548
Amortization of lease inducements 790 935
Amortization of real estate loans receivable origination fees (78) (73)
Amortization of treasury lock settlement 115 78
Distributions from investment in unconsolidated real estate venture 7,993 9,669
Non-cash compensation 4,200 2,816
Recovery of credit losses (117) (777)
Net change in:    
Tenant accounts receivable (14,882) (3,759)
Prepaid expenses and other assets 2,030 (2,035)
Real estate loan interest receivable (279) (1,657)
Deferred revenue associated with operating leases 14,321 1,307
Principal payments on operating lease obligations (380) (344)
Principal repayment of sales-type lease 131  
Accounts payable, accrued expenses and other liabilities 1,447 75
Net cash provided by operating activities 71,916 62,298
Cash flows from investing activities    
Real estate acquisitions and deposits (43,519) (144,847)
Additions to operating properties (14,728) (15,686)
Additions to development properties (44,509) (36,033)
Repayment of note receivable 643  
Investments in real estate loans receivable, net (6,930) 4,639
Net cash used in investing activities (109,043) (191,927)
Cash flows from financing activities    
Payment of deferred financing costs (1,754) (2,512)
Issuance of common shares 21,182 46,638
Credit facility draws 165,250 216,000
Credit facility repayments (321,250) (213,000)
Term loan proceeds 200,000  
Issuance of notes payable   125,000
Treasury lock settlement   (1,945)
Repayments of mortgage notes payable (2,393) (2,265)
Dividends and distributions paid (43,674) (51,552)
Payment of offering costs (212) (488)
Net cash provided by financing activities 17,149 115,876
Net decrease in Cash and cash equivalents and Restricted cash (19,978) (13,753)
Cash and cash equivalents and Restricted cash, beginning of period 33,631 27,804
Cash and cash equivalents and Restricted cash, end of period 13,653 14,051
Supplemental disclosure of cash flow information is as follows (amounts in thousands):    
Cash paid for interest (net of capitalized interest of $1,206 and $4,364 in 2026 and 2025, respectively) 39,180 33,782
Supplemental disclosure of non-cash information    
Deferred financing costs accrued, not paid 164 0
Offering costs accrued, not paid 6 15
Deferred asset acquisition costs accrued, not paid   47
Unrealized gain (loss) on treasury locks and interest rate swaps, net 4,153 (5,488)
Recognition of operating lease right-of-use assets 859  
Recognition of liabilities related to operating lease right-of-use assets 1,321  
Exchange of Common Units for Shares of Common Stock    
Non-controlling interest in Operating Partnership (2,500) (4,836)
Common stock 1 4
Additional paid-in capital 2,499 4,832
Operating Properties [Member]    
Supplemental disclosure of non-cash information    
Additions to properties accrued, not paid 7,913 4,864
Development Properties [Member]    
Supplemental disclosure of non-cash information    
Additions to properties accrued, not paid $ 18,013 $ 25,843