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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Investments in real estate:    
Investments in real estate, at cost $ 6,363,936 $ 6,259,212
Accumulated depreciation (740,957) (582,760)
Investments in real estate, net 5,622,979 5,676,452
Real estate held for sale 110,112 296,334
Investments in real estate under development 116,861 98,365
Cash and cash equivalents 21,228 22,852
Restricted cash 22,224 27,880
Investments in unconsolidated real estate entities 91,975 89,044
Other assets 39,596 39,245
Derivative assets 29,300 29,937
Intangible assets, net of accumulated amortization of $1,305 and $332, respectively 3,644 66
Total Assets 6,057,919 6,280,175
LIABILITIES AND EQUITY:    
Indebtedness, net 2,274,651 2,426,788
Indebtedness associated with real estate held for sale 59,032 122,621
Accounts payable and accrued expenses 94,670 109,074
Accrued interest payable 8,630 7,917
Dividends payable 37,827 36,858
Other liabilities 8,035 9,723
Total Liabilities 2,482,845 2,712,981
Stockholders’ equity:    
Preferred stock, $0.01 par value; 50,000,000 shares authorized, 0 and 0 shares issued and outstanding, respectively 0 0
Common stock, $0.01 par value; 500,000,000 shares authorized, 230,838,006 and 224,706,731 shares issued and outstanding, including 360,561 and 288,250 unvested restricted common share awards, respectively 2,308 2,247
Additional paid-in capital 3,868,006 3,751,942
Accumulated other comprehensive income 26,065 25,513
Accumulated deficit (454,104) (348,405)
Total stockholders’ equity 3,442,275 3,431,297
Noncontrolling interests 132,799 135,897
Total Equity 3,575,074 3,567,194
Total Liabilities and Equity $ 6,057,919 $ 6,280,175