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v3.26.1

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Mar. 31, 2026 | Dec. 31, 2025
--- | --- | ---
Investment properties |  |
Land | $ 719,744 | $ 702,147
Building and other improvements | 2,390,215 | 2,295,852
Construction in progress | 7,599 | 7,473
Total | 3,117,558 | 3,005,472
Less accumulated depreciation | (547,018) | (525,830)
Net investment properties | 2,570,540 | 2,479,642
Cash, cash equivalents, and restricted cash | 34,395 | 40,518
Intangible assets, net | 202,691 | 193,963
Accounts and rents receivable | 36,518 | 37,471
Deferred costs and other assets, net | 41,334 | 37,053
Total assets | 2,885,478 | 2,788,647
Liabilities |  |
Debt, net | 952,218 | 825,881
Accounts payable and accrued expenses | 29,190 | 48,291
Distributions payable | 19,484 | 18,450
Intangible liabilities, net | 73,915 | 68,475
Other liabilities | 32,589 | 33,288
Total liabilities | 1,107,396 | 994,385
Commitments and contingencies |  |
Stockholders' Equity |  |
Preferred stock, $0.001 par value, 40,000,000 shares authorized, none outstanding | 0 | 0
Common stock, $0.001 par value, 146,000,000 shares authorized, 77,935,857 shares issued and outstanding as of March 31, 2026 and 77,691,533 shares issued and outstanding as of December 31, 2025 | 78 | 78
Additional paid-in capital | 5,733,540 | 5,736,652
Distributions in excess of accumulated net income | (3,961,529) | (3,947,229)
Accumulated comprehensive income | 5,993 | 4,761
Total stockholders' equity | 1,778,082 | 1,794,262
Total liabilities and stockholders' equity | $ 2,885,478 | $ 2,788,647

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