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BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Schedule of Real Estate Properties

The composition of the Company’s investment properties as of December 31, 2021 and 2020 were as follows:

			Balance at December 31,
($ in thousands)			2021						2020
Land, building and improvements			$	7,543,376					$	3,109,122
Furniture, equipment and other			7,612						6,979
Construction in progress			41,360						27,860
Investment properties, at cost			$	7,592,348					$	3,143,961

Summary of Cash, Cash Equivalents, and Restricted Cash

The following is a summary of our total cash, cash equivalents, and restricted cash as presented in our consolidated statements of cash flows for the years ended December 31, 2021, 2020, and 2019:

(in thousands)			2021						2020						2019
Cash and cash equivalents			$	93,241					$	43,648					$	31,336
Restricted cash and escrow deposits			7,122						2,938						21,477
Total cash, cash equivalents, and restricted cash			$	100,363					$	46,586					$	52,813

Schedule of Concentration by Risk Factor

For the year ended December 31, 2021, the Company’s revenue recognized from tenants leasing space in the states where the majority of our portfolio is concentrated, Texas, Florida, New York, Maryland, and North Carolina, were as follows:

Texas			24.0		%
Florida			9.9		%
New York			5.8		%
Maryland			5.8		%
North Carolina			5.1		%

Schedule of Tax Characterization of Dividends Paid

A summary of the tax characterization of the dividends paid by the Parent Company for the years ended December 31, 2021, 2020, and 2019 is as follows:

			2021						2020						2019
Ordinary income			0.0		%				89.3		%				29.7		%
Return of capital			13.4		%				0.0		%				35.2		%
Capital gains			86.6		%				10.7		%				35.1		%
Balance, end of year			100.0		%				100.0		%				100.0		%

Schedule of Stockholders Equity

The non-redeemable noncontrolling interests in consolidated properties for the years ended December 31, 2021, 2020, and 2019 were as follows:

($ in thousands)			2021						2020						2019
Noncontrolling interests balance at January 1,			$	698					$	698					$	698
Noncontrolling interests acquired in the Merger			4,463						—						—
Net income allocable to noncontrolling interests,   excluding redeemable noncontrolling interests			(15)						—						—
Distributions to noncontrolling interests			—						—						—
Noncontrolling interests balance at December 31,			$	5,146					$	698					$	698

Schedule of ownership interests of the Parent Company and limited partners

For the years ended December 31, 2021, 2020, and 2019, the weighted average interests of the Parent Company and the limited partners in the Operating Partnership were as follows:

			Year Ended December 31,
			2021						2020						2019
Parent Company’s weighted average interest in Operating Partnership			97.8		%				97.4		%				97.6		%
Limited partners’ weighted average interests in Operating Partnership			2.2		%				2.6		%				2.4		%

Redeemable Noncontrolling Interest

The redeemable noncontrolling interests in the Operating Partnership and subsidiaries for the years ended December 31, 2021, 2020, and 2019 were as follows:

($ in thousands)			2021						2020						2019
Redeemable noncontrolling interests balance at January 1,			$	43,275					$	52,574					$	45,743
Net (loss) income allocable to redeemable noncontrolling interests			(901)						100						532
Distributions declared to redeemable noncontrolling interests			(2,208)						(1,533)						(3,191)
Other, net including adjustments to redemption value			15,007						(7,866)						9,490
Total limited partners' interests in Operating Partnership and other redeemable noncontrolling interests balance at December 31,			$	55,173					$	43,275					$	52,574
Limited partners' interests in Operating Partnership			$	45,103					$	33,205					$	42,504
Other redeemable noncontrolling interests in certain subsidiaries			10,070						10,070						10,070
Total limited partners' interests in Operating Partnership and other redeemable noncontrolling interests balance at December 31,			$	55,173					$	43,275					$	52,574

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