CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Cash Flows from Operating Activities:
Net loss	$ (12,049)	$ (33,272)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	21,200	26,406
Impairment charges on real estate	10,639	0
Unrealized loss on real estate equity securities	6,173	5,223
Deferred rents	(876)	(2,236)
Amortization of above- and below-market leases, net	(48)	(80)
Amortization of deferred financing costs	3,385	2,312
Unrealized (gain) loss on derivative instruments	(42)	4,523
Gain on sale of real estate	(22,754)	0
Changes in operating assets and liabilities:
Rents and other receivables	1,651	2,260
Prepaid expenses and other assets	(1,174)	(7,572)
Accounts payable and accrued liabilities	7,217	(3,042)
Due to affiliate	622	(134)
Other liabilities	2,732	(103)
Net cash provided by (used in) operating activities	16,676	(5,715)
Cash Flows from Investing Activities:
Improvements to real estate	(5,298)	(4,424)
Proceeds from sale of real estate, net	48,418	0
Net cash provided by (used in) investing activities	43,120	(4,424)
Cash Flows from Financing Activities:
Proceeds from notes payable	1,009	18,665
Principal payments on notes payable	(48,995)	(1,606)
Payments of deferred financing costs	(616)	(4,090)
Net cash (used in) provided by financing activities	(48,602)	12,969
Net increase in cash, cash equivalents and restricted cash	11,194	2,830
Cash, cash equivalents and restricted cash, beginning of period	62,216	41,574
Cash, cash equivalents and restricted cash, end of period	73,410	44,404
Supplemental Disclosure of Cash Flow Information:
Interest paid	13,982	22,682
Supplemental Disclosure of Noncash Investing and Financing Activities:
Accrued improvements to real estate	4,517	7,118
Accrued deferred loan financing costs	8,863	14,740
Accrued disposition fees	$ 322	$ 500