CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
ASSETS
Investment in real estate, net	$ 1,040,428	$ 1,018,618
Investment in unconsolidated joint ventures	66,454	66,356
Cash and cash equivalents	88,756	86,068
Other assets	80,318	82,243
Property and equipment, net	59,107	66,049
Investments held by special purpose entities	203,511	204,196
Total assets	1,538,574	1,523,530
Liabilities:
Debt, net	437,754	453,640
Accounts payable and other liabilities	53,969	58,573
Deferred revenue	59,274	62,836
Deferred tax liabilities, net	72,358	71,829
Senior Notes held by special purpose entity	178,484	178,162
Total liabilities	801,839	825,040
Commitments and contingencies (Note 20)
Equity:
Common stock, no par value; 180,000,000 shares authorized; 58,326,521 and 58,372,040 issued and outstanding at December 31, 2024 and December 31, 2023, respectively	268,668	270,848
Retained earnings	454,193	410,371
Accumulated other comprehensive income	1,419	1,843
Total stockholders' equity	724,280	683,062
Non-controlling interest	12,455	15,428
Total equity	736,735	698,490
Total liabilities and equity	$ 1,538,574	$ 1,523,530