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Subsequent Events
12 Months Ended
Dec. 31, 2024
Subsequent Events [Abstract]  
Subsequent Events

17. Subsequent Events

In January 2025, the Company acquired two properties in New York, New York for approximately $80.0 million.

In January 2025, the Company acquired an additional 48% interest in the Renaissance Portfolio venture (Note 4), increasing its existing 20% interest to approximately 68%, for approximately $117.1 million. Following the closing of the acquisition of the interest, the venture modified the terms of its non-recourse mortgage resulting in a reduction of the interest rate and a paydown of a portion of the outstanding obligation.

In January 2025, the Company sold 262,211 shares on a forward basis under the ATM Program for anticipated net proceeds of $6.2 million (Note 10).

On February 11, 2025, the Company declared a cash dividend of $0.20 per Common Share, which is payable on April 15, 2025 to stockholders of record as of March 31, 2025.