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CONSOLIDATED BALANCE SHEETS - Unaudited - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
ASSETS    
Real estate properties $ 4,776,355 $ 4,395,972
Development and value-add properties [1] 552,461 538,449
Real estate, development and value-add properties 5,328,816 4,934,421
Less accumulated depreciation (1,246,312) (1,150,814)
Real estate, net 4,082,504 3,783,607
Unconsolidated investment 7,261 7,230
Cash and Cash Equivalents 374 56
Other Assets 264,715 244,944
TOTAL ASSETS 4,354,854 4,035,837
LIABILITIES    
Unsecured bank credit facilities, net of debt issuance costs (1,760) 168,454
Unsecured debt, net of debt issuance costs 1,676,131 1,691,259
Secured debt, net of debt issuance costs 0 2,031
Accounts payable and accrued expenses 218,119 136,988
Other liabilities 83,099 83,666
Total Liabilities 1,975,589 2,082,398
STOCKHOLDERS' EQUITY    
Common shares; $.0001 par value; 70,000,000 shares authorized; 46,277,057 shares issued and outstanding at September 30, 2023 and 43,575,539 at December 31, 2022 4 4
Excess shares; $.0001 par value; 30,000,000 shares authorized; zero shares issued 0 0
Additional paid-in capital 2,706,064 2,251,521
Distributions in excess of earning (369,192) (334,898)
Accumulated Other Comprehensive Income 42,088 36,371
Total Stockholders' Equity 2,378,964 1,952,998
Noncontrolling interest in joint ventures 301 441
Total Equity 2,379,265 1,953,439
TOTAL LIABILITIES AND EQUITY $ 4,354,854 $ 4,035,837
Common Shares    
BALANCE SHEET PARENTHETICAL DISCLOSURES    
Common shares, par value (in dollars per share) $ 0.0001 $ 0.0001
Common shares, authorized 70,000,000 70,000,000
Common shares, issued 46,277,057 43,575,539
Common shares, outstanding 46,277,057 43,575,539
Excess shares    
BALANCE SHEET PARENTHETICAL DISCLOSURES    
Common shares, par value (in dollars per share) $ 0.0001 $ 0.0001
Excess shares, authorized 30,000,000 30,000,000
Excess Stock, 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 the acquisition date based on near term lease termination), or (2) 20% or greater of the acquisition cost will be spent to redevelop the property.