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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 54,991,000 $ 3,239,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 139,187,000 83,055,000
Other amortization 17,960,000 19,213,000
Deferred rent (1,283,000) (1,556,000)
Stock based compensation 10,625,000 5,741,000
(Gain) loss on dispositions of real estate investments, net (5,647,000) 3,035,000
Impairment of real estate investments 2,137,000 34,365,000
(Income) loss from unconsolidated entities (1,684,000) 3,086,000
Distributions of earnings from unconsolidated entities 3,000 0
Deferred income tax benefit (947,000) 0
Foreign currency loss (gain) 719,000 (4,172,000)
Loss on extinguishments of debt 147,000 1,754,000
Change in fair value of derivative financial instruments (1,884,000) 1,379,000
Changes in operating assets and liabilities:    
Accounts and other receivables (25,940,000) (13,581,000)
Other assets 6,775,000 (5,006,000)
Accounts payable and accrued liabilities 18,150,000 16,735,000
Operating lease liabilities (14,153,000) (15,523,000)
Security deposits, prepaid rent and other liabilities 531,000 327,000
Net cash provided by operating activities 199,687,000 132,091,000
CASH FLOWS FROM INVESTING ACTIVITIES    
Acquisitions of real estate investments (291,749,000) (81,886,000)
Developments and capital expenditures (86,006,000) (48,077,000)
Proceeds from dispositions of real estate investments 7,308,000 36,428,000
Investments in unconsolidated entities (68,000) (360,000)
Issuances of real estate notes receivable 0 (5,855,000)
Principal repayments on real estate notes receivable 0 6,625,000
Real estate and other deposits (7,263,000) (1,737,000)
Proceeds from insurance recoveries 1,343,000 0
Net cash used in investing activities (376,435,000) (94,862,000)
CASH FLOWS FROM FINANCING ACTIVITIES    
Borrowings under mortgage loans payable 0 30,000,000
Payments on mortgage loans payable (95,494,000) (30,708,000)
Borrowings under the lines of credit and term loan 0 132,500,000
Payments on the lines of credit and term loan 0 (271,532,000)
Payments on financing and other obligations (675,000) (1,049,000)
Deferred financing costs (5,485,000) (259,000)
Debt extinguishment costs 0 (52,000)
Proceeds from issuance of common stock in offerings 420,767,000 236,300,000
Proceeds from issuance of common stock pursuant to employee stock purchase plan 135,000 0
Payment of offering costs (3,484,000) (2,313,000)
Distributions paid (94,431,000) (79,425,000)
Payments to taxing authorities in connection with common stock directly withheld from employees (11,020,000) (2,402,000)
Contribution from noncontrolling interest 7,962,000 0
Distributions to noncontrolling interests (1,267,000) (1,214,000)
Security deposits, net (353,000) (498,000)
Net cash provided by financing activities 216,655,000 9,348,000
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 39,907,000 46,577,000
EFFECT OF FOREIGN CURRENCY TRANSLATION ON CASH, CASH EQUIVALENTS AND RESTRICTED CASH (38,000) 113,000
CASH, CASH EQUIVALENTS AND RESTRICTED CASH — Beginning of period 151,753,000 123,301,000
CASH, CASH EQUIVALENTS AND RESTRICTED CASH — End of period 191,622,000 169,991,000
Cash and cash equivalents at beginning of period 114,836,000 76,702,000
Cash and cash equivalents at end of period 156,896,000 133,494,000
Restricted cash at beginning of period 36,917,000 46,599,000
Restricted cash at end of period 34,726,000 36,497,000
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash paid for: Interest 36,232,000 41,716,000
Cash paid for: Income taxes 372,000 836,000
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES    
Accrued developments and capital expenditures 29,023,000 20,739,000
Distributions declared but not paid 50,209,000 42,266,000
Tenant improvement overage 1,761,000 82,000
Accrued offering costs 0 78,000
The following represents the net increase (decrease) in certain assets and liabilities in connection with our acquisitions and dispositions of investments:    
Accounts and other receivables (622,000) (7,000)
Other assets, net (4,662,000) (2,191,000)
Accounts payable and accrued liabilities 0 (2,393,000)
Financing obligations (14,150,000) 0
Security deposits and other liabilities $ 0 $ (471,000)