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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Net real estate investments:    
Real estate assets, at cost $ 13,698,419 $ 13,454,391
Less: accumulated depreciation 2,960,399 2,691,386
Real estate assets, net 10,738,020 10,763,005
Investments in sales-type leases, net 16,291 8,705
Investments in real estate partnerships 399,044 370,605
Net real estate investments 11,153,355 11,142,315
Properties held for sale, net   18,878
Cash, cash equivalents, and restricted cash, including $5,601 and $6,383 of restricted cash at December 31, 2024 and 2023, respectively 61,884 91,354
Tenant and other receivables, net 255,495 206,162
Deferred leasing costs, less accumulated amortization of $131,080 and $124,107 at December 31, 2024 and 2023, respectively 79,911 73,398
Acquired lease intangible assets, less accumulated amortization of $395,209 and $364,413 at December 31, 2024 and 2023, respectively 229,983 283,375
Right of use assets, net 322,287 328,002
Other assets 289,046 283,429
Total assets 12,391,961 12,426,913
Liabilities:    
Notes payable, net 4,343,700 4,001,949
Unsecured credit facility 65,000 152,000
Accounts payable and other liabilities 392,302 358,612
Acquired lease intangible liabilities, less accumulated amortization of $222,052 and $211,067 at December 31, 2024 and 2023, respectively 364,608 398,302
Lease liabilities 244,861 246,063
Tenants’ security, escrow deposits and prepaid rent 81,183 78,052
Total liabilities 5,491,654 5,234,978
Commitments and contingencies
Shareholders' equity/Partners' capital:    
Preferred stock $0.01 par value per share, 30,000,000 shares authorized; 9,000,000 shares issued and outstanding, in the aggregate, in Series A and Series B at December 31, 2024 and 2023 225,000 225,000
Common stock $0.01 par value per share, 220,000,000 shares authorized; 181,361,454 and 184,581,070 shares issued and outstanding at December 31, 2024 and 2023, respectively 1,814 1,846
Treasury stock at cost, 479,251 and 448,140 shares held at December 31, 2024 and 2023, respectively (28,045) (25,488)
Additional paid-in-capital 8,503,227 8,704,240
Accumulated other comprehensive gain (loss) 2,226 (1,308)
Distributions in excess of net income (1,980,076) (1,871,603)
Total shareholders' equity 6,724,146 7,032,687
Noncontrolling interests :    
Exchangeable operating partnership units, aggregate redemption value of $81,076 and $74,199 at December 31, 2024 and 2023, respectively 40,744 42,195
Noncontrolling interest: Limited partners' interests in consolidated partnerships 135,417 117,053
Total noncontrolling interests 176,161 159,248
Total equity 6,900,307 7,191,935
Total liabilities and equity 12,391,961 12,426,913
Partnership Interest [Member]    
Net real estate investments:    
Real estate assets, at cost 13,698,419 13,454,391
Less: accumulated depreciation 2,960,399 2,691,386
Real estate assets, net 10,738,020 10,763,005
Investments in sales-type leases, net 16,291 8,705
Investments in real estate partnerships 399,044 370,605
Net real estate investments 11,153,355 11,142,315
Properties held for sale, net 0 18,878
Cash, cash equivalents, and restricted cash, including $5,601 and $6,383 of restricted cash at December 31, 2024 and 2023, respectively 61,884 91,354
Tenant and other receivables, net 255,495 206,162
Deferred leasing costs, less accumulated amortization of $131,080 and $124,107 at December 31, 2024 and 2023, respectively 79,911 73,398
Acquired lease intangible assets, less accumulated amortization of $395,209 and $364,413 at December 31, 2024 and 2023, respectively 229,983 283,375
Right of use assets, net 322,287 328,002
Other assets 289,046 283,429
Total assets 12,391,961 12,426,913
Liabilities:    
Notes payable, net 4,343,700 4,001,949
Unsecured credit facility 65,000  
Accounts payable and other liabilities 392,302 358,612
Acquired lease intangible liabilities, less accumulated amortization of $222,052 and $211,067 at December 31, 2024 and 2023, respectively 364,608 398,302
Lease liabilities 244,861 246,063
Tenants’ security, escrow deposits and prepaid rent 81,183 78,052
Total liabilities 5,491,654 5,234,978
Commitments and contingencies
Shareholders' equity/Partners' capital:    
Preferred units $0.01 par value per unit, 30,000,000 units authorized; 9,000,000 units issued and outstanding, in the aggregate, in Series A and Series B at December 31, 2024 and 2023 225,000 225,000
General partner's common units, 181,361,454 and 184,581,070 units issued and outstanding at December 31, 2024 and December 31, 2023, respectively 6,496,920 6,808,995
Limited partners' common units, 1,096,659 and 1,107,454 units issued and outstanding at December 31, 2024 and December 31, 2023 respectively 40,744 42,195
Accumulated other comprehensive gain (loss) 2,226 (1,308)
Total partners’ capital 6,764,890 7,074,882
Noncontrolling interests :    
Noncontrolling interest: Limited partners' interests in consolidated partnerships 135,417 117,053
Total capital 6,900,307 7,191,935
Total liabilities and equity $ 12,391,961 $ 12,426,913