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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
ASSETS    
Cash and cash equivalents $ 446,800 $ 391,802
Restricted cash 14,496 9,208
Real estate:    
Land 225,330 231,175
Building and improvements 1,942,591 1,968,314
Tenant origination and absorption cost 394,728 402,251
Construction in progress 1,069 8,371
Total real estate 2,563,718 2,610,111
Less: accumulated depreciation and amortization (581,421) (550,552)
Total real estate, net 1,982,297 2,059,559
Intangible assets, net 28,281 29,690
Deferred rent receivable 65,289 63,272
Deferred leasing costs, net 18,117 19,112
Goodwill 74,052 78,647
Right of use assets 33,771 33,736
Interest rate swap asset 22,710 26,942
Other assets 42,172 27,446
Real estate assets and other assets held for sale, net 2,730 50,211
Total assets 2,730,715 2,789,625
LIABILITIES AND EQUITY    
Debt, net 1,408,517 1,435,923
Distributions payable 8,486 8,344
Intangible liabilities, net 14,552 16,023
Lease liability 46,934 46,281
Accrued expenses and other liabilities 64,970 78,229
Liabilities held for sale 92 539
Total liabilities 1,544,124 1,585,912
Commitments and contingencies (Note 13)
Shareholders’ equity:    
Common shares, $0.001 par value; shares authorized, 800,000,000; shares outstanding in the aggregate, 36,370,740 and 36,304,145 as of June 30, 2024 and December 31, 2023, respectively 37 36
Additional paid-in capital 2,994,303 2,990,085
Cumulative distributions (1,092,609) (1,076,000)
Accumulated deficit (826,597) (827,854)
Accumulated other comprehensive income 21,986 25,817
Total shareholders’ equity 1,097,120 1,112,084
Noncontrolling interests 89,471 91,629
Total equity 1,186,591 1,203,713
Total liabilities and equity $ 2,730,715 $ 2,789,625
Common stock, shares outstanding (in shares) 36,370,740 36,304,145
Related Party    
LIABILITIES AND EQUITY    
Due to related parties $ 573 $ 573