v3.26.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Real estate assets:    
Land $ 1,730,514 $ 1,641,913
Buildings and improvements 9,011,023 8,505,486
Undeveloped land and construction in progress 1,585,042 2,387,742
Total real estate assets held for investment 12,326,579 12,535,141
Accumulated depreciation and amortization (2,857,265) (2,843,811)
Total real estate assets held for investment, net 9,469,314 9,691,330
REAL ESTATE AND OTHER ASSETS HELD FOR SALE, NET 188,771 115,155
Cash and cash equivalents 192,904 179,316
Marketable securities 31,417 30,807
Current receivables (net of allowances of $331 and $244, respectively) 15,712 12,765
Deferred rent receivables, net 425,420 424,794
Deferred leasing costs and acquisition-related intangible assets, net 271,213 278,232
Right of use ground lease assets, net 127,834 128,116
Prepaid expenses and other assets, net 52,273 54,561
Total assets 10,774,858 10,915,076
Liabilities:    
Secured debt, net 591,398 592,685
Unsecured debt, net 3,997,993 3,996,774
Accounts payable, accrued expenses, and other liabilities 303,808 288,963
Ground lease liabilities 127,414 127,628
Accrued dividends and distributions 63,421 65,009
Deferred revenue and acquisition-related intangible liabilities, net 122,272 125,628
Rents received in advance and tenant security deposits 79,638 75,701
Liabilities related to real estate assets held for sale 0 4,945
Total liabilities 5,285,944 5,277,333
Commitments and contingencies (Note 10)
Stockholders’ Equity:    
Common stock, $.01 par value, 280,000,000 shares authorized, 116,278,807 and 118,372,451 shares issued and outstanding 1,163 1,184
Additional paid-in capital 5,161,140 5,230,747
Retained earnings 102,859 188,876
Total stockholders’ equity 5,265,162 5,420,807
Noncontrolling Interests:    
Common units of the Operating Partnership 51,328 51,911
Consolidated property partnerships 172,424 165,025
Total noncontrolling interests 223,752 216,936
Total equity 5,488,914 5,637,743
Total liabilities and equity $ 10,774,858 $ 10,915,076