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CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Allowance for credit losses $ 2,004 [1] $ 1,279
Common shares, par value (in dollars per share) $ 0.001 $ 0.001
Common shares, authorized (in shares) 200,000,000 200,000,000
Common shares, issued (in shares) 119,657,594 95,361,676
Common shares, outstanding (in shares) 119,657,594 95,361,676
Note receivable from related party $ 126,584 [1] $ 124,949
Operating real estate, net 3,543,974 3,517,281
Real estate under development 129,619 94,799
Investments in and advances to unconsolidated affiliates 209,232 197,240
Other assets, net 223,767 208,460
Right-of-use assets - operating leases, net 25,531 29,286
Cash and cash equivalents 16,806 17,481
Restricted cash 22,897 7,813
Rents receivable, net 58,022 49,504
Mortgage and other notes payable, net 953,700 930,127
Unsecured notes payable, net 569,566 726,727
Accounts payable and other liabilities 232,726 229,375
Lease liabilities - operating leases 27,920 31,580
Related Party    
Note receivable from related party 14,800 6,400
VIE    
Operating real estate, net 1,640,071 1,679,779
Real estate under development 31,514 28,851
Investments in and advances to unconsolidated affiliates 74,361 92,802
Other assets, net 79,381 101,679
Right-of-use assets - operating leases, net 1,978 2,112
Cash and cash equivalents 15,934 10,787
Restricted cash 11,013 7,048
Rents receivable, net 27,317 21,427
Mortgage and other notes payable, net 799,734 764,614
Unsecured notes payable, net 0 80,473
Accounts payable and other liabilities 120,088 127,162
Lease liabilities - operating leases $ 2,077 $ 2,213
[1] The aggregate carrying amount of notes receivable included above for Federal income tax purposes was approximately $126.2 million as of December 31, 2024.