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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Real estate assets:    
Land [1] $ 588,153 $ 585,191
Buildings and improvements [1] 1,505,232 1,216,054
Real estate assets [1] 2,093,385 1,801,245
Accumulated depreciation [1] (283,785) (228,034)
Net investment in real estate assets [1] 1,809,600 1,573,211
Held-for-sale [1] 56,075  
Developments in progress [1] 5,817 8,900
Net investment in real estate assets [1] 1,871,492 1,582,111
Cash and cash equivalents [1] 40,791 34,188
Restricted cash [1] 112,938 88,888
Available-for-sale securities - at fair value (amortized cost of $242,881 and $261,869 as of December 31, 2024 and 2023, respectively) [1] 243,148 262,142
Receivables:    
Tenant [1] 45,594 43,436
Other [1] 2,356 2,752
Investments in unconsolidated affiliates [1] 83,465 76,458
In-place leases, net [1] 186,561 157,639
Intangible lease assets and other assets [1] 160,846 158,291
Total assets [1] 2,747,191 2,405,905
LIABILITIES AND EQUITY    
Mortgage and other indebtedness, net 2,212,680 1,888,803
Accounts payable and accrued liabilities 221,647 186,485
Total liabilities [1] 2,434,327 2,075,288
Shareholders' equity:    
Common stock, $.001 par value, 200,000,000 shares authorized, 30,711,227 and 31,975,645 issued and outstanding as of December 31, 2024 and 2023, respectively (in each case, excluding 34 treasury shares) 31 32
Additional paid-in capital 694,566 719,125
Accumulated other comprehensive income 782 610
Accumulated deficit (371,833) (380,446)
Total shareholders' equity 323,546 339,321
Noncontrolling interests (10,682) (8,704)
Total equity 312,864 330,617
Total liabilities, redeemable noncontrolling interests and equity $ 2,747,191 $ 2,405,905
[1] As of December 31, 2024, includes $174,745 of assets related to consolidated variable interest entities that can be used only to settle obligations of the consolidated variable interest entities and $212,234 of liabilities of consolidated variable interest entities for which creditors do not have recourse to the general credit of the Company. See Note 10.