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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenues:      
Rental revenue $ 721,750,000 $ 711,470,000 $ 702,819,000
Fee and other income 35,701,000 31,318,000 37,558,000
Total revenues 757,451,000 742,788,000 740,377,000
Expenses:      
Operating 303,278,000 293,965,000 277,422,000
Depreciation and amortization 239,542,000 250,644,000 232,517,000
General and administrative 66,333,000 61,986,000 59,487,000
Transaction related costs 923,000 422,000 470,000
Total expenses 610,076,000 607,017,000 569,896,000
Other income (expense):      
Loss from real estate related fund investments (128,000) (96,375,000) (2,233,000)
Income (loss) from unconsolidated real estate related funds 273,000 (822,000) (1,239,000)
Loss from unconsolidated joint ventures (47,359,000) (270,298,000) (53,251,000)
Interest and other income, net 30,455,000 14,837,000 5,174,000
Interest and debt expense (166,952,000) (152,990,000) (143,864,000)
Loss before income taxes (36,336,000) (369,877,000) (24,932,000)
Income tax expense (2,058,000) (1,426,000) (3,265,000)
Net loss (38,394,000) (371,303,000) (28,197,000)
Less net (income) loss attributable to noncontrolling interests in:      
Consolidated joint ventures (22,462,000) (20,464,000) (13,981,000)
Consolidated real estate related funds 10,292,000 109,795,000 3,342,000
Operating Partnership 4,276,000 22,228,000 2,433,000
Net loss attributable to common stockholders $ (46,288,000) $ (259,744,000) $ (36,403,000)
Loss per Common Share - Basic:      
Net loss per common share $ (0.21) $ (1.2) $ (0.16)
Weighted average common shares outstanding 217,240,620 216,922,235 221,309,938
Loss per Common Share - Diluted:      
Net loss per common share $ (0.21) $ (1.2) $ (0.16)
Weighted average common shares outstanding 217,240,620 216,922,235 221,309,938