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Real Estate Investments (Tables)
3 Months Ended
Mar. 31, 2025
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Schedule of Equity Method Investments
The Company's investment in and income (losses) recognized for the three months ended March 31, 2025 and 2024 related to its unconsolidated joint ventures accounted for under the equity method are shown in the table below:
THREE MONTHS ENDED
March 31,
Dollars in thousands20252024
Investments in unconsolidated joint ventures, beginning of period $473,122 $311,511 
New investment during the period 852 — 
Equity income (loss) recognized during the period (422)
Owner distributions(3,557)(1,335)
Investments in unconsolidated joint ventures, end of period $470,418 $309,754 
Schedule of dispositions
The following table details the Company's dispositions for the three months ended March 31, 2025.
Dollars in thousandsDATE DISPOSEDSALE PRICECLOSING ADJUSTMENTSCOMPANY-FINANCED MORTGAGE NOTESNET PROCEEDSNET REAL ESTATE INVESTMENTOTHER (INCLUDING RECEIVABLES) GAIN/(IMPAIRMENT)SQUARE FOOTAGE
Boston, MA2/7/25$4,500 $(135)$— $4,365 $4,325 $15 $25 30,304 
Denver, CO 1
2/14/258,600 (2,144)— 6,456 7,948 113 (1,605)69,715 
Houston, TX 2
3/20/2515,000 (4,087)(5,400)5,513 14,343 347 (3,777)127,933 
Total dispositions$28,100 $(6,366)$(5,400)$16,334 $26,616 $475 $(5,357)227,952 
1Includes two medical outpatient properties.
2The Company provided seller financing of approximately $5.4 million in connection with this sale.
Schedule of Assets and Liabilities Held for Sale The table below reflects the assets and liabilities classified as held for sale as of March 31, 2025 and December 31, 2024:
Dollars in thousandsMarch 31, 2025December 31, 2024
Balance Sheet data:
Land$3,710 $10,859 
Building and improvements4,023 3,410 
Lease intangibles2,056 3,286 
9,789 17,555 
Accumulated depreciation(3,390)(5,275)
Real estate assets held for sale, net 1
6,399 12,280 
Other assets, net236 617 
Assets held for sale, net$6,635 $12,897 
Accounts payable and accrued liabilities$259 $694 
Other liabilities163 589 
Liabilities of assets held for sale$422 $1,283 
1Net real estate assets held for sale include the impact of $2.5 million of impairment charges for the three months ended March 31, 2025.