v3.26.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Investment in real estate:    
Land and improvements $ 1,992,077 $ 1,963,735
Building and improvements 4,401,481 4,305,174
In-place lease assets 546,454 538,324
Above-market lease assets 78,786 77,551
Total investment in real estate assets 7,018,798 6,884,784
Accumulated depreciation and amortization (2,009,942) (1,957,569)
Net investment in real estate assets 5,008,856 4,927,215
Investment in unconsolidated joint ventures 43,008 42,561
Total investment in real estate assets, net 5,051,864 4,969,776
Cash and cash equivalents 3,141 3,544
Restricted cash 19,218 39,768
Goodwill 29,066 29,066
Other assets, net 247,695 244,284
Total assets 5,350,984 5,286,438
Liabilities:    
Debt obligations, net 2,489,365 2,375,328
Below-market lease liabilities, net 123,115 118,356
Accounts payable and other liabilities 135,294 180,332
Deferred income 23,245 23,044
Total liabilities 2,771,019 2,697,060
Commitments and contingencies (see Note 8) 0 0
Equity:    
Preferred stock, $0.01 par value per share, 10,000 shares authorized, zero shares issued and outstanding at March 31, 2026 and December 31, 2025 0 0
Common stock, $0.01 par value per share, 1,000,000 shares authorized, 125,966 and 125,788 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively 1,259 1,258
Additional paid-in capital (“APIC”) 3,667,019 3,664,205
Accumulated other comprehensive income (“AOCI”) 416 358
Accumulated deficit (1,389,918) (1,379,252)
Total stockholders’ equity 2,278,776 2,286,569
Noncontrolling interests 301,189 302,809
Total equity 2,579,965 2,589,378
Total liabilities and equity $ 5,350,984 $ 5,286,438