v3.26.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Real estate investments, at cost (Note 4):    
Land $ 636,934 $ 659,086
Buildings, fixtures and improvements 3,468,728 3,592,121
Construction in progress 406 2,993
Acquired intangible lease assets 492,330 523,406
Total real estate investments, at cost 4,598,398 4,777,606
Less accumulated depreciation and amortization (989,221) (966,982)
Total real estate investments, net 3,609,177 3,810,624
Real estate assets held for sale (Note 4) 33,834 49,654
Assets related to discontinued operations (Note 3) 0 348
Cash and cash equivalents 153,640 180,114
Restricted cash 14,352 13,949
Derivative assets, at fair value (Note 9) 978 7
Unbilled straight-line rent 71,952 72,919
Operating lease right-of-use asset (Note 13) 60,958 63,362
Prepaid expenses and other assets 53,636 60,415
Multi-tenant disposition receivable, net (Note 3) 2,475 27,934
Deferred tax assets 5,105 5,167
Goodwill 45,516 45,898
Deferred financing costs, net 14,465 16,812
Total Assets 4,066,088 4,347,203
LIABILITIES AND EQUITY    
Mortgage notes payable, net (Note 5) 986,880 1,264,604
Revolving credit facility (Note 6) 472,946 324,165
Senior notes, net (Note 7) 940,019 928,169
Acquired intangible lease liabilities, net 15,781 17,501
Derivative liabilities, at fair value (Note 9) 1,797 5,298
Accounts payable and accrued expenses 42,771 43,821
Operating lease liability (Note 13) 40,043 41,429
Prepaid rent 26,962 28,254
Deferred tax liability 17,403 17,796
Dividends payable 11,623 11,718
Real estate liabilities held for sale (Note 4) 164 60
Liabilities related to discontinued operations (Note 3) 596 890
Total Liabilities 2,556,985 2,683,705
Commitments and contingencies (Note 11) 0 0
Stockholders’ Equity (Note 10):    
Common Stock, $0.01 par value, 400,000,000 shares authorized, 210,951,435 and 216,016,247 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively 3,440 3,490
Additional paid-in capital 4,205,625 4,249,018
Accumulated other comprehensive income 16,480 22,169
Accumulated deficit (2,716,682) (2,611,419)
Total Stockholders’ Equity 1,509,103 1,663,498
Total Liabilities and Stockholders’ Equity 4,066,088 4,347,203
Series A Preferred Stock    
Stockholders’ Equity (Note 10):    
Cumulative redeemable preferred stock 68 68
Series B Preferred Stock    
Stockholders’ Equity (Note 10):    
Cumulative redeemable preferred stock 47 47
Series D Preferred Stock    
Stockholders’ Equity (Note 10):    
Cumulative redeemable preferred stock 79 79
Series E Preferred Stock    
Stockholders’ Equity (Note 10):    
Cumulative redeemable preferred stock $ 46 $ 46