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CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Allowance for credit losses $ 1,692 $ 2,004
Common shares, par value (in dollars per share) $ 0.001 $ 0.001
Common shares, authorized (in shares) 200,000,000 200,000,000
Common shares, issued (in shares) 131,031,455 119,657,594
Common shares, outstanding (in shares) 131,031,455 119,657,594
Note receivable from related party $ 154,765 $ 126,584
Operating real estate, net 3,994,407 3,543,974
Real estate under development 142,468 129,619
Investments in and advances to unconsolidated affiliates 164,403 209,232
Other assets, net 230,327 223,767
Right-of-use assets - operating leases, net 24,552 25,531
Cash and cash equivalents 49,388 16,806
Restricted cash 25,647 22,897
Rents receivable, net 63,710 58,022
Assets of property held for sale 21,023 0
Mortgage and other notes payable, net 978,915 953,700
Unsecured notes payable, net 818,093 569,566
Accounts payable and other liabilities 276,233 232,726
Lease liabilities - operating leases 26,969 [1] 27,920
Related Party    
Note receivable from related party 14,200 14,800
VIE    
Operating real estate, net 1,776,126 1,640,071
Real estate under development 0 31,514
Investments in and advances to unconsolidated affiliates 56,244 74,361
Other assets, net 84,183 79,381
Right-of-use assets - operating leases, net 1,636 1,978
Cash and cash equivalents 36,828 15,934
Restricted cash 12,872 11,013
Rents receivable, net 27,196 27,317
Assets of property held for sale 21,023 0
Mortgage and other notes payable, net 876,259 799,734
Accounts payable and other liabilities 130,070 120,088
Lease liabilities - operating leases $ 1,725 $ 2,077
[1] Minimum rental payments include $6.7 million of interest related to operating leases and $129.2 million related to finance leases. These amounts exclude lease renewal options that are not reasonably certain to be exercised.