XML 17 R2.htm IDEA: XBRL DOCUMENT v3.24.2
CONSOLIDATED BALANCE SHEETS - Unaudited - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
ASSETS    
Real estate properties $ 5,039,199 $ 4,853,548
Development and value-add properties [1] 693,072 639,647
Real estate, development and value-add properties 5,732,271 5,493,195
Less accumulated depreciation (1,336,535) (1,273,723)
Real estate, net 4,395,736 4,219,472
Unconsolidated investment 7,393 7,539
Cash and cash equivalents 39,400 40,263
Other assets 272,164 251,939
TOTAL ASSETS 4,714,693 4,519,213
LIABILITIES    
Unsecured bank credit facilities, net of debt issuance costs (4,100) (1,520)
Unsecured debt, net of debt issuance costs 1,676,799 1,676,347
Accounts payable and accrued expenses 188,837 146,337
Other liabilities 86,210 89,415
Total Liabilities 1,947,746 1,910,579
STOCKHOLDERS' EQUITY    
Common shares; $.0001 par value; 70,000,000 shares authorized; 48,652,525 shares issued and outstanding at June 30, 2024 and 47,700,432 at December 31, 2023 5 5
Excess shares; $.0001 par value; 30,000,000 shares authorized; zero shares issued 0 0
Additional paid-in capital 3,112,554 2,949,907
Distributions in excess of earning (375,556) (366,473)
Accumulated other comprehensive income 29,687 24,888
Total Stockholders' Equity 2,766,690 2,608,327
Noncontrolling interest in joint ventures 257 307
Total Equity 2,766,947 2,608,634
TOTAL LIABILITIES AND EQUITY $ 4,714,693 $ 4,519,213
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 48,652,525 47,700,432
Common shares, outstanding 48,652,525 47,700,432
Excess shares, par value $ 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 in Note 6.