CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Assets:
Real estate, at cost	$ 3,908,485	$ 4,176,294
Real estate - intangible assets	305,841	318,444
Land held for development	82,971	82,827
Investments in real estate under construction	41,769	5,947
Real estate, gross	4,339,066	4,583,512
Less: accumulated depreciation and amortization	(1,151,513)	(1,047,166)
Real estate, net	3,187,553	3,536,346
Right-of-use assets, net	8,721	16,484
Cash and cash equivalents	170,394	101,836
Restricted cash	257	237
Investments in non-consolidated entities	31,430	40,018
Deferred expenses, (net of accumulated amortization of $33,210 in 2025 and $28,035 in 2024)	35,068	39,820
Rent receivable - current	3,454	2,052
Rent receivable - deferred	84,631	85,757
Other assets	15,514	20,762
Total assets	3,537,022	3,843,312
Liabilities:
Mortgages and notes payable, net	49,541	54,930
Term loan payable, net	249,053	297,814
Senior notes payable, net	952,693	1,089,373
Trust preferred securities, net	100,113	127,893
Dividends payable	44,715	41,164
Operating lease liabilities	9,134	17,114
Accounts payable and other liabilities	54,553	57,055
Accrued interest payable	9,218	10,517
Deferred revenue - including below-market leases (net of accumulated accretion of $11,947 in 2025 and $18,292 in 2024)	3,030	6,751
Prepaid rent	16,594	19,918
Total liabilities	1,488,644	1,722,529
Commitments and contingencies
Equity:
Preferred shares, par value $0.0001 per share; authorized 100,000,000 shares, Series C Cumulative Convertible Preferred, liquidation preference $96,770 and 1,935,400 shares issued and outstanding	94,016	94,016
Common shares, par value $0.0001 per share; authorized 600,000,000 shares, 59,077,234 and 58,899,958 shares issued and outstanding in 2025 and 2024, respectively	6	6
Additional paid-in-capital	3,313,884	3,315,127
Accumulated distributions in excess of net income	(1,371,654)	(1,316,993)
Accumulated other comprehensive income	427	6,136
Total shareholders’ equity	2,036,679	2,098,292
Noncontrolling interests	11,699	22,491
Total equity	2,048,378	2,120,783
Total liabilities and equity	$ 3,537,022	$ 3,843,312