CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Real estate:
Land	$ 189,873	$ 192,272
Buildings and improvements	1,604,687	1,608,950
Tenant origination and absorption costs	22,307	22,309
Total real estate held for investment, cost	1,816,867	1,823,531
Less accumulated depreciation and amortization	(559,392)	(543,443)
Total real estate held for investment, net	1,257,475	1,280,088
Real estate held for sale, net	0	22,109
Total real estate, net	1,257,475	1,302,197
Real estate equity securities	40,600	46,773
Total real estate and real estate-related investments, net	1,298,075	1,348,970
Cash and cash equivalents	43,092	23,659
Restricted cash	30,318	38,557
Rents and other receivables, net	91,429	93,352
Above-market leases, net	35	52
Assets related to real estate held for sale, net	0	4,187
Prepaid expenses and other assets	52,916	54,332
Total assets	1,515,865	1,563,109
Liabilities and equity
Notes payable, net	1,237,067	1,235,152
Notes payable related to real estate held for sale, net	0	47,500
Total notes payable, net	1,237,067	1,282,652
Accounts payable and accrued liabilities	40,190	31,223
Due to affiliate	20,439	19,817
Below-market leases, net	165	230
Liabilities related to real estate held for sale, net	0	317
Other liabilities	52,250	51,067
Total liabilities	1,350,111	1,385,306
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 March 31, 2026 and December 31, 2025, respectively	1,485	1,485
Additional paid-in capital	1,313,297	1,313,297
Cumulative distributions in excess of net income	(1,149,028)	(1,136,979)
Total stockholders’ equity	165,754	177,803
Total liabilities and equity	$ 1,515,865	$ 1,563,109