v3.26.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
ASSETS    
Investment property, net $ 4,968,886 $ 4,928,448
Investments in real estate-related securities 190,658 172,127
Cash and cash equivalents 284,040 172,148
Restricted cash 4,587 9,637
Derivative instruments 27,071 28,773
Tenant and other receivables, net 107,835 93,477
Intangible lease assets, net 381,401 408,529
Financing lease right-of-use asset, net 15,281 15,348
Deferred leasing costs, net 87,123 89,971
Deferred financing costs, net 4,728 6,274
Other assets 68,946 67,856
Total assets 6,140,556 5,992,588
Liabilities:    
Accounts payable and accrued expenses 138,894 123,713
Intangible lease liabilities, net 82,758 82,557
Financing lease liability 17,549 17,523
Financing obligations 1,430,289 1,231,287
Distributions payable 16,813 14,943
Notes payable, net 2,040,726 2,372,045
Total liabilities 3,878,552 4,013,912
Commitments and contingencies (Note 13) 0 0
Stockholders’ equity:    
Preferred shares, $0.001 par value per share; 500,000 preferred shares authorized, none issued or outstanding as of June 30, 2026 and December 31, 2025 0 0
Common shares, $0.001 par value per share (Note 8) 313 296
Additional paid-in capital 3,041,599 2,885,443
Accumulated distributions in excess of earnings (991,572) (929,266)
Accumulated other comprehensive income (loss) 8,100 22,203
Total stockholders’ equity 2,058,440 1,978,676
Noncontrolling interests 203,564 0
Total equity 2,262,004 1,978,676
Total liabilities and equity 6,140,556 5,992,588
Related Party    
Liabilities:    
Other liabilities 63,973 81,503
Nonrelated Party    
Liabilities:    
Other liabilities $ 87,550 $ 90,341