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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Real estate properties:    
Land $ 706,623 $ 711,039
Buildings and improvements 2,953,983 2,946,520
Total real estate properties, gross 3,660,606 3,657,559
Accumulated depreciation (670,583) (618,650)
Total real estate properties, net 2,990,023 3,038,909
Assets of properties held for sale 8,650 32,199
Investment in unconsolidated joint venture 16,990 17,370
Acquired real estate leases, net 169,948 193,739
Cash and cash equivalents 78,176 261,318
Restricted cash 13,778 13,847
Deferred leasing costs, net 98,617 97,642
Other assets, net 21,392 11,594
Total assets 3,560,949 3,822,286
LIABILITIES AND SHAREHOLDERS’ EQUITY    
Unsecured debt, net 488,754 662,277
Secured debt, net 1,876,439 1,872,357
Liabilities of properties held for sale 646 765
Accounts payable and other liabilities 115,454 118,689
Due to related persons 4,804 5,869
Assumed real estate lease obligations, net 8,924 9,525
Total liabilities 2,495,021 2,669,482
Commitments and contingencies
Shareholders’ equity:    
Common shares of beneficial interest, $.01 par value: 250,000,000 authorized, 73,976,190 and 69,824,743 shares issued and outstanding, respectively 740 698
Additional paid in capital 2,658,090 2,656,548
Cumulative net loss (122,986) (35,933)
Cumulative common distributions (1,469,916) (1,468,509)
Total shareholders’ equity 1,065,928 1,152,804
Total liabilities and shareholders’ equity 3,560,949 3,822,286
Nonrelated Party    
Real estate properties:    
Rents receivable 160,205 155,668
Related Party    
Real estate properties:    
Rents receivable $ 3,170 $ 0