CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (136,107)	$ (69,432)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation	118,710	107,460
Net amortization of debt premiums, discounts and issuance costs	13,463	9,209
Amortization of acquired real estate leases and assumed real estate lease obligations, net	64,636	92,805
Amortization of deferred leasing costs	12,990	10,063
Loss (gain) on sale of real estate	7,410	(3,780)
Loss on impairment of real estate	181,578	11,299
Gain on early extinguishment of debt	(138,603)	0
Straight line rental income	(31,102)	(26,194)
Other non-cash expenses, net	575	1,168
Equity in net losses of investees	758	3,031
Impairment loss on equity method investment	0	19,183
Change in assets and liabilities:
Rents receivable	5,999	(2,376)
Deferred leasing costs	(22,969)	(23,510)
Other assets	1,377	(1,495)
Accounts payable and other liabilities	(10,392)	13,739
Due to related persons	(1,156)	556
Net cash provided by operating activities	67,167	141,726
CASH FLOWS FROM INVESTING ACTIVITIES:
Real estate acquisitions	0	(2,785)
Real estate improvements	(123,376)	(229,004)
Proceeds from sale of property, net	189,986	42,181
Contributions to unconsolidated joint ventures	0	(5,213)
Net cash used in investing activities	66,610	(194,821)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayment of mortgage notes payable	0	(50,000)
Proceeds from issuance of mortgage notes payable	0	177,320
Repayment of senior unsecured notes	(350,242)	0
Proceeds from issuance of senior secured notes	338,986	0
Borrowings on revolving credit facility	452,000	240,000
Repayments on revolving credit facility	(332,000)	(230,000)
Borrowings on secured term loan	100,000	0
Payment of debt issuance costs	(91,845)	(6,279)
Repurchases of common shares	(192)	(294)
Distribution to common shareholders	(2,033)	(63,187)
Net cash provided by (used in) financing activities	114,674	67,560
Increase in cash, cash equivalents and restricted cash	248,451	14,465
Cash, cash equivalents and restricted cash at beginning of period	26,714	12,249
Cash, cash equivalents and restricted cash at end of period	275,165	26,714
SUPPLEMENTAL CASH FLOW INFORMATION:
Interest paid	145,326	107,645
Income taxes paid	361	478
NON-CASH INVESTING ACTIVITIES:
Real estate improvements accrued, not paid	16,767	32,231
Capitalized interest	969	7,634
NON-CASH FINANCING ACTIVITIES:
Extinguishment of unsecured senior notes in exchange for senior secured notes and common shares	(180,548)	0
SUPPLEMENTAL DISCLOSURE OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH:
Cash and cash equivalents	261,318	12,315
Restricted cash	13,847	14,399
Total cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows	$ 275,165	$ 26,714