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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues:        
Leasing revenue $ 232,725 $ 197,961 $ 468,372 $ 389,613
Total revenues 249,793 215,521 499,017 424,304
Expenses:        
Leasing expenses 10,624 9,590 21,843 20,112
REIT general and administrative expenses 7,798 6,996 15,410 14,639
Depreciation and amortization 88,500 71,676 181,062 140,027
Total expenses before interest 208,641 178,158 425,980 358,060
Interest expense:        
Interest expense 71,925 39,765 140,999 91,955
Total expenses 280,566 217,923 566,979 450,015
Equity in loss of unconsolidated joint ventures (475) (56,837) (1,274) (130,113)
Income tax benefit (expense) 188 (258) 1,010 966
(Loss) gain on sale or write down of assets, net (10,484) 324,996 (24,472) 288,911
Net (loss) income (41,544) 265,499 (92,698) 134,053
Less: net (loss) income attributable to noncontrolling interests (639) 13,492 (1,669) 8,774
Net (loss) income attributable to the Company $ (40,905) $ 252,007 $ (91,029) $ 125,279
(Loss) income per common share—attributable to common stockholders:        
Basic (in dollars per share) $ (0.16) $ 1.16 $ (0.36) $ 0.58
Diluted (in dollars per share) $ (0.16) $ 1.16 $ (0.36) $ 0.58
Weighted average number of common shares outstanding:        
Basic (in shares) 253,085 216,180 253,039 216,108
Diluted (in shares) 253,085 216,180 253,039 216,108
Related parties        
Revenues:        
Revenue $ 5,633 $ 6,232 $ 10,366 $ 13,252
Interest expense:        
Interest expense 0 (15,701) 0 (11,264)
Nonrelated Party        
Interest expense:        
Interest expense 71,925 55,466 140,999 103,219
Other        
Revenues:        
Revenue 11,130 10,781 19,786 19,683
Management Companies        
Revenues:        
Revenue 5,938 6,779 10,859 15,008
Expenses:        
Shopping center and management companies operating expenses 21,871 19,450 42,654 38,649
Management Companies | Related parties        
Revenues:        
Revenue 3,652 4,235 6,793 8,683
Shopping center and operating expenses        
Expenses:        
Shopping center and management companies operating expenses $ 79,848 $ 70,446 $ 165,011 $ 144,633