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CONSOLIDATED BALANCE SHEETS - Unaudited - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
ASSETS    
Real estate properties $ 5,565,764 $ 5,503,444
Development and value-add properties [1] 686,102 674,472
Real estate, development and value-add properties 6,251,866 6,177,916
Less accumulated depreciation (1,456,556) (1,415,576)
Real estate, net 4,795,310 4,762,340
Unconsolidated investment 7,401 7,448
Cash and cash equivalents 20,515 17,529
Other assets 284,752 290,159
TOTAL ASSETS 5,107,978 5,077,476
LIABILITIES    
Unsecured bank credit facilities, net of debt issuance costs (3,345) (3,595)
Unsecured debt, net of debt issuance costs 1,457,283 1,507,157
Accounts payable and accrued expenses 177,387 147,342
Other liabilities 131,496 134,028
Total Liabilities 1,762,821 1,784,932
STOCKHOLDERS' EQUITY    
Common shares; $.0001 par value; 70,000,000 shares authorized; 52,265,432 shares issued and outstanding at March 31, 2025 and 51,825,798 at December 31, 2024 5 5
Excess shares; $.0001 par value; 30,000,000 shares authorized; zero shares issued 0 0
Additional paid-in capital 3,746,897 3,673,393
Distributions in excess of earning (417,058) (403,172)
Accumulated other comprehensive income 15,026 21,953
Total Stockholders' Equity 3,344,870 3,292,179
Noncontrolling interest in joint ventures 287 365
Total Equity 3,345,157 3,292,544
TOTAL LIABILITIES AND EQUITY $ 5,107,978 $ 5,077,476
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 52,265,432 51,825,798
Common shares, outstanding 52,265,432 51,825,798
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.