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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Real estate assets:    
Land [1] $ 602,147 $ 588,153
Buildings and improvements [1] 1,608,672 1,505,232
Real estate assets [1] 2,210,819 2,093,385
Accumulated depreciation [1] (334,096) (283,785)
Net investment in real estate assets [1] 1,876,723 1,809,600
Held-for-sale [1] 0 56,075
Developments in progress [1] 8,747 5,817
Net investment in real estate assets [1] 1,885,470 1,871,492
Cash and cash equivalents [1] 52,586 40,791
Restricted cash [1] 109,377 112,938
Available-for-sale securities - at fair value (amortized cost of $260,076 and $242,881 as of September 30, 2025 and December 31, 2024, respectively) [1] 260,434 243,148
Receivables:    
Tenant [1] 37,563 45,594
Other [1] 864 2,356
Investments in unconsolidated affiliates [1] 84,219 83,465
In-place leases, net [1] 160,241 186,561
Intangible lease assets and other assets [1] 139,250 160,846
Total assets [1] 2,730,004 2,747,191
LIABILITIES AND EQUITY    
Mortgage and other indebtedness, net 2,180,861 2,212,680
Accounts payable and accrued liabilities 208,583 221,647
Total liabilities [1] 2,389,444 2,434,327
Shareholders' equity:    
Common stock, $.001 par value, 200,000,000 shares authorized, 30,784,118 and 30,711,227 issued and outstanding as of September 30, 2025 and December 31, 2024, respectively (excluding 27,860 and 34 treasury shares as of September 30, 2025 and December 31, 2024, respectively) 31 31
Additional paid-in capital 699,235 694,566
Accumulated other comprehensive income 406 782
Accumulated deficit (348,231) (371,833)
Total shareholders' equity 351,441 323,546
Noncontrolling interests (10,881) (10,682)
Total equity 340,560 312,864
Total liabilities, redeemable noncontrolling interests and equity $ 2,730,004 $ 2,747,191
[1] As of September 30, 2025, includes $165,941 of assets related to consolidated variable interest entities that can be used only to settle obligations of the consolidated variable interest entities and $211,371 of liabilities of consolidated variable interest entities for which creditors do not have recourse to the general credit of the Company. See Note 8.