v3.26.3
Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash flows from operating activities    
Net income $ 10,261 $ 8,784
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 96,343 84,277
Straight line rent (4,976) (386)
Income from unconsolidated real estate venture (5,036) (5,218)
Amortization of above- / below-market leases (1,303) (1,427)
Amortization of unearned revenue (11,386) (5,517)
Amortization of loan premium / discount (4) (16)
Amortization of deferred financing costs 2,943 2,489
Amortization of lease inducements 1,182 1,548
Amortization of real estate loans receivable origination fees (240) (109)
Amortization of treasury lock settlement 185 147
Impairment loss 0 2,545
Distributions from investment in unconsolidated real estate venture 12,609 15,213
Non-cash compensation 6,242 4,449
Recovery of credit losses (869) (475)
Net change in:    
Tenant accounts receivable (15,230) 6,690
Prepaid expenses and other assets 3,253 (8,228)
Real estate loan interest receivable 2,372 (1,925)
Deferred revenue associated with operating leases 18,184 105,069
Principal payments on operating lease obligations (580) (519)
Principal repayment of sales-type lease 200  
Accounts payable, accrued expenses and other liabilities 5,153 9,872
Net cash provided by operating activities 119,303 217,263
Cash flows from investing activities    
Real estate acquisitions and deposits (44,293) (179,429)
Additions to operating properties (22,248) (24,968)
Additions to development properties (64,750) (58,107)
Repayments of real estate loan receivable 33,470 15,493
Proceeds from sale of operating property, net   3,492
Distributions from investment in unconsolidated real estate venture 3,089  
Investments in real estate loans receivable, net (6,930) (14,040)
Net cash used in investing activities (101,662) (257,559)
Cash flows from financing activities    
Payment of deferred financing costs (1,918) (4,848)
Issuance of common shares 21,182 63,620
Credit facility draws 230,250 274,350
Credit facility repayments (413,250) (378,000)
Term loan proceeds 200,000 25,500
Issuance of notes payable   125,000
Treasury lock settlement   (1,945)
Repayments of mortgage notes payable (9,403) (3,421)
Dividends and distributions paid (65,899) (72,882)
Payment of offering costs (457) (673)
Net cash (used in) provided by financing activities (39,495) 26,701
Net decrease in Cash and cash equivalents and Restricted cash (21,854) (13,595)
Cash and cash equivalents and Restricted cash, beginning of period 33,631 27,804
Cash and cash equivalents and Restricted cash, end of period 11,777 14,209
Supplemental disclosure of cash flow information is as follows (amounts in thousands):    
Cash paid for interest (net of capitalized interest of $2,202 and $7,356 in 2026 and 2025, respectively) 56,912 51,672
Supplemental disclosure of non-cash information    
Offering costs accrued, not paid 6 3
Deferred asset acquisition costs accrued, not paid 26 33
Unrealized gain (loss) on treasury locks and interest rate swaps, net 6,768 (5,536)
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 5,931 5,116
Development Properties [Member]    
Supplemental disclosure of non-cash information    
Additions to properties accrued, not paid $ 17,317 $ 23,036