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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Assets:    
Real estate, at cost $ 4,176,294 $ 3,774,239
Real estate - intangible assets 318,444 314,525
Land held for development 82,827 80,743
Investments in real estate under construction 5,947 319,355
Real estate, gross 4,583,512 4,488,862
Less: accumulated depreciation and amortization 1,047,166 904,709
Real estate, net 3,536,346 3,584,153
Assets held for sale 0 9,168
Right-of-use assets, net 16,484 19,342
Cash and cash equivalents 101,836 199,247
Restricted cash 237 216
Short-term investments 0 130,140
Investments in non-consolidated entities 40,018 48,495
Deferred expenses, (net of accumulated amortization of $28,035 in 2024 and $21,667 in 2023) 39,820 35,008
Investment in a sales-type lease, net (allowance for credit loss of $61 in 2023) 0 63,464
Rent receivable - current 2,052 5,327
Rent receivable - deferred 85,757 80,421
Other assets 20,762 17,794
Total assets 3,843,312 4,192,775
Liabilities:    
Mortgages and notes payable, net 54,930 60,124
Term loan payable, net 297,814 296,764
Senior notes payable, net 1,089,373 1,286,145
Trust preferred securities, net 127,893 127,794
Dividends payable 41,164 39,610
Liabilities held for sale 0 417
Operating lease liabilities 17,114 20,233
Accounts payable and other liabilities 57,055 57,981
Accrued interest payable 10,517 11,379
Deferred revenue - including below market leases (net of accumulated accretion of $18,292 in 2024 and $17,259 in 2023) 6,751 9,428
Prepaid rent 19,918 17,443
Total liabilities 1,722,529 1,927,318
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, 294,499,790 and 293,449,088 shares issued and outstanding in 2024 and 2023, respectively 29 29
Additional paid-in-capital 3,315,104 3,330,383
Accumulated distributions in excess of net income (1,316,993) (1,201,824)
Accumulated other comprehensive income 6,136 9,483
Total shareholders’ equity 2,098,292 2,232,087
Noncontrolling interests 22,491 33,370
Total equity 2,120,783 2,265,457
Total liabilities and equity $ 3,843,312 $ 4,192,775