v3.25.3
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Real estate properties:    
Land $ 1,109,538 $ 1,113,711
Buildings and improvements 4,034,745 4,066,674
Total real estate properties, gross 5,144,283 5,180,385
Accumulated depreciation (608,543) (523,886)
Total real estate properties, net 4,535,740 4,656,499
Investment in unconsolidated joint venture 119,100 116,732
Assets of properties held for sale 30,959 0
Acquired real estate leases, net 172,326 199,193
Cash and cash equivalents 83,173 131,706
Restricted cash and cash equivalents 94,531 [1] 110,774
Rents receivable, including straight line rents of $111,835 and $104,730, respectively 130,087 129,162
Other assets, net 52,930 62,265
Total assets 5,218,846 5,406,331
LIABILITIES AND EQUITY    
Mortgages notes payable, net 4,196,825 4,300,537
Assumed real estate lease obligations, net 12,409 14,937
Total liabilities 4,305,216 4,397,001
Commitments and contingencies
Equity:    
Common shares of beneficial interest, $.01 par value: 100,000,000 shares authorized; 66,659,235 and 66,144,308 shares issued and outstanding, respectively 667 661
Additional paid in capital 1,018,740 1,017,382
Cumulative net deficit (150,880) (86,473)
Cumulative other comprehensive loss (1,281) (1,065)
Cumulative common distributions (373,126) (368,486)
Total equity attributable to common shareholders 494,120 562,019
Noncontrolling interests 419,510 447,311
Total equity 913,630 1,009,330
Total liabilities and equity 5,218,846 5,406,331
Nonrelated Party    
LIABILITIES AND EQUITY    
Liabilities of properties held for sale 102 0
Accounts payable and other liabilities 87,145 76,753
Related Party    
LIABILITIES AND EQUITY    
Accounts payable and other liabilities $ 8,735 $ 4,774
[1] Restricted cash and cash equivalents consist of cash held for the operations of our consolidated joint venture and amounts escrowed as required by the agreements governing certain of our mortgage debt.