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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 127,544,000 $ 44,442,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization, including amortization of capitalized loan costs 75,708,000 84,859,000
Gain on sale of real estate and other investments (150,579,000) (79,531,000)
Share-based compensation expense 3,273,000 2,564,000
Impairment of real estate investments 9,700,000 23,219,000
Non-cash casualty loss 1,111,000 645,000
Amortization of debt premiums and discounts 1,046,000 1,339,000
Other, net 737,000 817,000
Changes in other assets and liabilities:    
Other assets 1,986,000 1,237,000
Accounts payable and accrued expenses (5,748,000) 6,155,000
Net cash provided by operating activities 64,778,000 85,746,000
CASH FLOWS FROM INVESTING ACTIVITIES    
Net proceeds from sale of real estate and other investments 315,196,000 122,351,000
Payments for acquisitions of real estate investments 0 (206,223,000)
Proceeds from insurance 913,000 851,000
Payments for improvements of real estate investments (18,813,000) (24,120,000)
Other investing activities 208,000 121,000
Net cash provided by (used by) investing activities 297,504,000 (107,020,000)
CASH FLOWS FROM FINANCING ACTIVITIES    
Principal payments on mortgages payable (55,165,000) (40,976,000)
Proceeds from revolving lines of credit 110,336,000 351,275,000
Principal payments on revolving lines of credit (265,260,000) (176,135,000)
Repurchase of common shares (2,516,000) (3,454,000)
Redemption of Series D preferred units 0 (10,620,000)
Distributions paid to common shareholders (38,768,000) (38,218,000)
Distributions paid to Series D preferred unitholders (172,000) (429,000)
Distributions paid to noncontrolling interests – Operating Partnership and Series E preferred units (6,633,000) (6,825,000)
Payments related to tax withholding for share-based compensation (492,000) 0
Other financing activities (182,000) (634,000)
Net cash provided by (used by) financing activities (258,852,000) 73,984,000
NET INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH 103,430,000 52,710,000
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT BEGINNING OF PERIOD 15,651,000 13,129,000
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF PERIOD 119,081,000 65,839,000
SUPPLEMENTARY SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES    
Accrued capital expenditures 2,069,000 3,178,000
Distributions declared but not paid to common shareholders and OP unitholders 13,611,000 13,600,000
Retirement of shares withheld for taxes 0 296,000
Involuntary conversion of assets (1,688,000) (935,000)
Real estate assets acquired through assumption of debt 0 76,496,000
Fair value adjustment to debt 0 (23,632,000)
Non-cash interest income 1,423,000 1,287,000
Unrealized gain on investment 243,000 503,000
Contribution to noncontrolling interests - consolidated real estate entities through issuance of note receivable 0 1,428,000
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash paid for interest 26,924,000 30,181,000
Balance Sheet Description    
Cash and cash equivalents 116,235,000 12,896,000
Restricted cash 2,846,000 52,943,000
Total cash, cash equivalents, and restricted cash 119,081,000 65,839,000
Operating Partnership Units    
SUPPLEMENTARY SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES    
Operating partnership/ Series E preferred units converted to common shares 1,746,000 750,000
Series E Preferred Units    
SUPPLEMENTARY SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES    
Operating partnership/ Series E preferred units converted to common shares $ 1,630,000 $ 526,000