v3.26.3
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
Real estate, at cost:    
Land $ 686,497 $ 669,078
Buildings and improvements 2,905,146 2,835,540
Construction in progress 388,936 327,413
Furniture, fixtures and equipment 14,508 13,059
Total 3,995,087 3,845,090
Accumulated depreciation and amortization (989,591) (935,548)
Real estate, net 3,005,496 2,909,542
Operating lease right-of-use assets 56,887 58,917
Cash and cash equivalents 62,644 48,881
Restricted cash 23,531 29,984
Tenant and other receivables 21,873 26,658
Receivables arising from the straight-lining of rents 63,013 63,842
Identified intangible assets, net of accumulated amortization of $74,553 and $70,514, respectively 83,583 87,591
Deferred leasing costs, net of accumulated amortization of $22,940 and $21,982, respectively 29,266 31,220
Prepaid expenses and other assets 76,959 55,236
Total assets 3,423,252 3,311,871
Liabilities:    
Mortgages payable, net 1,629,867 1,606,774
Unsecured line of credit 75,000 0
Operating lease liabilities 54,509 56,329
Accounts payable, accrued expenses and other liabilities 90,644 97,397
Identified intangible liabilities, net of accumulated amortization of $60,593 and $59,668, respectively 161,995 174,899
Total liabilities 2,012,015 1,935,399
Commitments and contingencies (Note 10)
Shareholders’ equity:    
Common shares: $0.01 par value; 500,000,000 shares authorized and 126,259,755 and 125,912,647 shares issued and outstanding, respectively 1,261 1,257
Additional paid-in capital 1,173,491 1,163,939
Accumulated other comprehensive income (loss) 6,830 (703)
Accumulated earnings 137,078 124,566
Noncontrolling interests:    
Operating partnership 73,503 69,140
Consolidated subsidiaries 19,074 18,273
Total equity 1,411,237 1,376,472
Total liabilities and equity $ 3,423,252 $ 3,311,871