v3.25.4
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Real estate properties:    
Land $ 1,112,238 $ 1,113,711
Buildings and improvements 4,067,721 4,066,674
Total real estate properties, gross 5,179,959 5,180,385
Accumulated depreciation (648,310) (523,886)
Total real estate properties, net 4,531,649 4,656,499
Investment in unconsolidated joint venture 132,753 116,732
Acquired real estate leases, net 164,186 199,193
Cash and cash equivalents 94,812 131,706
Restricted cash and cash equivalents 88,219 110,774
Rents receivable, including straight line rents of $114,199 and $104,730, respectively 136,669 129,162
Other assets, net 41,656 62,265
Total assets 5,189,944 5,406,331
LIABILITIES AND EQUITY    
Mortgage notes payable, net 4,193,194 4,300,537
Assumed real estate lease obligations, net 11,679 14,937
Total liabilities 4,289,246 4,397,001
Commitments and contingencies
Equity:    
Common shares of beneficial interest, $.01 par value: 100,000,000 shares authorized; 66,653,129 and 66,144,308 shares issued and outstanding, respectively 667 661
Additional paid in capital 1,018,985 1,017,382
Cumulative net deficit (152,660) (86,473)
Cumulative other comprehensive loss (836) (1,065)
Cumulative common distributions (376,459) (368,486)
Total equity attributable to common shareholders 489,697 562,019
Noncontrolling interests 411,001 447,311
Total equity 900,698 1,009,330
Total liabilities and equity 5,189,944 5,406,331
Nonrelated Party    
LIABILITIES AND EQUITY    
Accounts payable and other liabilities 74,571 76,753
Related Party    
LIABILITIES AND EQUITY    
Accounts payable and other liabilities $ 9,802 $ 4,774