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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenues:        
Leasing revenue $ 237,232 $ 203,448 $ 705,604 $ 593,061
Total revenues 253,262 220,224 752,279 644,528
Expenses:        
Leasing expenses 10,635 9,862 32,478 29,974
REIT general and administrative expenses 6,928 6,010 22,338 20,649
Depreciation and amortization 90,904 73,299 271,966 213,326
Total expenses before interest 208,393 183,142 634,373 541,202
Interest expense:        
Interest expense 72,699 57,099 213,698 149,054
Total expenses 281,092 240,241 848,071 690,256
Equity in income (loss) of unconsolidated joint ventures 9,759 (74,931) 8,485 (205,044)
Income tax benefit (expense) 710 (545) 1,720 421
(Loss) gain on sale or write down of assets, net (72,634) (16,605) (97,106) 272,306
Net (loss) income (89,995) (112,098) (182,693) 21,955
Less: net (loss) income attributable to noncontrolling interests (2,635) (3,909) (4,304) 4,865
Net (loss) income attributable to the Company $ (87,360) $ (108,189) $ (178,389) $ 17,090
(Loss) income per common share—attributable to common stockholders:        
Basic (in dollars per share) $ (0.34) $ (0.50) $ (0.71) $ 0.08
Diluted (in dollars per share) $ (0.34) $ (0.50) $ (0.71) $ 0.08
Weighted average number of common shares outstanding:        
Basic (in shares) 254,130 218,420 253,407 216,884
Diluted (in shares) 254,130 218,420 253,407 216,884
Related parties        
Revenues:        
Revenue $ 5,366 $ 6,709 $ 15,731 $ 19,961
Interest expense:        
Interest expense 0 0 0 (11,264)
Nonrelated parties        
Interest expense:        
Interest expense 72,699 57,099 213,698 160,318
Other        
Revenues:        
Revenue 10,623 9,689 30,409 29,372
Management Companies        
Revenues:        
Revenue 5,407 7,087 16,266 22,095
Expenses:        
Shopping center and management companies operating expenses 20,171 18,843 62,825 57,492
Management Companies | Related parties        
Revenues:        
Revenue 3,639 4,473 10,432 13,156
Shopping center and operating expenses        
Expenses:        
Shopping center and management companies operating expenses $ 79,755 $ 75,128 $ 244,766 $ 219,761