v3.25.4

REAL ESTATE - Summary of Real Estate Investments (Details) - USD ($) $ in Thousands | Dec. 31, 2025 | Dec. 31, 2024
--- | --- | ---
Real Estate Properties [Line Items] |  |
Land | $ 701,274 | $ 674,149
Buildings | 2,552,665 | 2,391,910
Land improvements | 76,241 | 68,558
Tenant improvements | 347,996 | 321,245
Furniture, fixtures, and equipment | 34,596 | 32,162
Construction in progress | 50,855 | 138,340
Total real estate, at cost | 3,763,627 | 3,626,364
Accumulated depreciation | (1,144,259) | (1,038,878)
Net real estate | 2,619,368 | 2,587,486
Retail |  |
Real Estate Properties [Line Items] |  |
Land | 226,899 | 226,899
Buildings | 449,400 | 446,775
Land improvements | 44,162 | 40,658
Tenant improvements | 82,203 | 78,126
Furniture, fixtures, and equipment | 789 | 629
Construction in progress | 3,449 | 3,302
Total real estate, at cost | 806,902 | 796,389
Accumulated depreciation | (337,169) | (318,352)
Net real estate | 469,733 | 478,037
Office |  |
Real Estate Properties [Line Items] |  |
Land | 297,947 | 297,947
Buildings | 1,525,289 | 1,407,244
Land improvements | 19,526 | 16,779
Tenant improvements | 263,064 | 240,099
Furniture, fixtures, and equipment | 7,693 | 6,241
Construction in progress | 42,382 | 132,742
Total real estate, at cost | 2,155,901 | 2,101,052
Accumulated depreciation | (568,585) | (503,594)
Net real estate | 1,587,316 | 1,597,458
Multifamily |  |
Real Estate Properties [Line Items] |  |
Land | 99,793 | 72,668
Buildings | 446,092 | 407,297
Land improvements | 9,947 | 8,515
Tenant improvements | 0 | 0
Furniture, fixtures, and equipment | 12,972 | 12,273
Construction in progress | 4,272 | 1,685
Total real estate, at cost | 573,076 | 502,438
Accumulated depreciation | (166,913) | (151,422)
Net real estate | 406,163 | 351,016
Mixed-Use |  |
Real Estate Properties [Line Items] |  |
Land | 76,635 | 76,635
Buildings | 131,884 | 130,594
Land improvements | 2,606 | 2,606
Tenant improvements | 2,729 | 3,020
Furniture, fixtures, and equipment | 13,142 | 13,019
Construction in progress | 752 | 611
Total real estate, at cost | 227,748 | 226,485
Accumulated depreciation | (71,592) | (65,510)
Net real estate | $ 156,156 | $ 160,975

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