CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Real estate:
Land	$ 226,106	$ 251,527
Buildings and improvements	1,991,483	2,081,857
Tenant origination and absorption costs	27,334	34,285
Total real estate held for investment, cost	2,244,923	2,367,669
Less accumulated depreciation and amortization	(681,392)	(659,799)
Total real estate held for investment, net	1,563,531	1,707,870
Real estate held for sale, net	0	131,608
Total real estate, net	1,563,531	1,839,478
Real estate equity securities	40,600	51,802
Total real estate and real estate-related investments, net	1,604,131	1,891,280
Cash and cash equivalents	30,484	36,836
Restricted cash	11,090	14,086
Rents and other receivables, net	101,372	91,485
Above-market leases, net	120	189
Assets related to real estate held for sale, net	0	14,126
Prepaid expenses and other assets	76,248	91,383
Total assets	1,823,445	2,139,385
Liabilities and equity
Notes payable, net	1,442,661	1,549,369
Notes payable related to real estate held for sale, net	0	186,527
Total notes payable, net	1,442,661	1,735,896
Accounts payable and accrued liabilities	46,911	49,646
Due to affiliate	19,520	17,408
Below-market leases, net	544	1,069
Liabilities related to real estate held for sale, net	0	2,615
Other liabilities	57,250	65,339
Total liabilities	1,566,886	1,871,973
Commitments and contingencies (Note 13)
Redeemable common stock	0	0
Stockholders’ equity:
Preferred stock, $.01 par value per share; 10,000,000 shares authorized, no shares issued and outstanding	0	0
Common stock, $.01 par value per share; 1,000,000,000 shares authorized, 148,516,246 and 148,516,246 shares issued and outstanding as of December 31, 2024 and 2023, respectively	1,485	1,485
Additional paid-in capital	1,313,297	1,313,299
Cumulative distributions in excess of net income	(1,058,223)	(1,047,372)
Total stockholders’ equity	256,559	267,412
Total liabilities and equity	$ 1,823,445	$ 2,139,385