XML 14 R2.htm IDEA: XBRL DOCUMENT v3.21.2
CONSOLIDATED BALANCE SHEETS - Unaudited - USD ($)
Sep. 30, 2021
Dec. 31, 2020
ASSETS    
Real estate properties $ 3,484,743,000 $ 3,159,497,000
Development and value-add properties [1] 352,344,000 359,588,000
Real estate, development and value-add properties 3,837,087,000 3,519,085,000
Less accumulated depreciation (1,031,027,000) (955,328,000)
Real estate, net 2,806,060,000 2,563,757,000
Unconsolidated investment 7,111,000 7,446,000
Cash 247,000 21,000
Other Assets 171,592,000 149,579,000
TOTAL ASSETS 2,985,010,000 2,720,803,000
LIABILITIES    
Unsecured bank credit facilities, net of debt issuance costs 58,719,000 124,194,000
Unsecured debt, net of debt issuance costs 1,242,430,000 1,107,708,000
Secured debt, net of debt issuance costs 35,466,000 78,993,000
Accounts payable and accrued expenses 149,979,000 69,573,000
Other liabilities 78,676,000 69,817,000
Total Liabilities 1,565,270,000 1,450,285,000
STOCKHOLDERS' EQUITY    
Common shares; $.0001 par value; 70,000,000 shares authorized; 40,684,273 shares issued and outstanding at June 30, 2021 and 39,676,828 at December 31, 2020 4,000 4,000
Excess shares; $.0001 par value; 30,000,000 shares authorized; no shares issued 0 0
Additional paid-in capital 1,765,748,000 1,610,053,000
Distributions in excess of earnings (344,378,000) (329,667,000)
Accumulated Other Comprehensive Income (loss) (2,476,000) (10,752,000)
Total Stockholders' Equity 1,418,898,000 1,269,638,000
Noncontrolling interest in joint ventures 842,000 880,000
Total Equity 1,419,740,000 1,270,518,000
TOTAL LIABILITIES AND EQUITY $ 2,985,010,000 $ 2,720,803,000
Common shares, par value (in dollars per share) $ 0.0001 $ 0.0001
Common shares, authorized 70,000,000 70,000,000
Common shares, issued 40,684,273 39,676,828
Common shares, outstanding 40,684,273 39,676,828
Excess shares, par value (in dollars per share) $ 0.0001 $ 0.0001
Excess shares, authorized 30,000,000 30,000,000
Excess shares, issued 0 0
[1] Value-add properties are defined as properties that are either acquired but not stabilized or can be converted to a higher and better use.  Acquired properties meeting either of the following two conditions are considered value-add properties:  (1) Less than 75% occupied as of the acquisition date (or will be less than 75% occupied within one year of acquisition date based on near term lease roll), or (2) 20% or greater of the acquisition cost will be spent to redevelop the property.