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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
ASSETS    
Cash and cash equivalents $ 391,802 $ 233,180
Restricted cash 9,208 4,764
Real estate:    
Land 231,175 327,408
Building and improvements 1,968,314 2,631,965
Tenant origination and absorption cost 402,251 535,889
Construction in progress 8,371 1,994
Total real estate 2,610,111 3,497,256
Less: accumulated depreciation and amortization (550,552) (644,639)
Total real estate, net 2,059,559 2,852,617
Investments in unconsolidated entity 0 178,647
Intangible assets, net 29,690 33,861
Deferred rent receivable 63,272 79,572
Deferred leasing costs, net 19,112 26,507
Goodwill 78,647 94,678
Right of use assets 33,736 35,453
Interest rate swap asset 26,942 41,404
Other assets 27,446 31,877
Real estate assets and other assets held for sale, net 50,211 20,816
Total assets 2,789,625 3,633,376
LIABILITIES AND EQUITY    
Debt, net 1,435,923 1,485,402
Distributions payable 8,344 12,402
Intangible liabilities, net 16,023 20,658
Lease liability 46,281 46,519
Accrued expenses and other liabilities 78,229 80,802
Liabilities of real estate assets held for sale 539 0
Total liabilities 1,585,912 1,647,241
Commitments and contingencies (Note 13)
Perpetual convertible preferred shares 0 125,000
Noncontrolling interests subject to redemption; zero and 61,788 units as of December 31, 2023 and December 31, 2022, respectively 0 3,812
Shareholders’ equity:    
Common shares, $0.001 par value; 800,000,000 shares authorized; 36,304,145 and 35,999,898 shares outstanding in the aggregate as of December 31, 2023 and December 31, 2022, respectively 36 36
Additional paid-in-capital 2,990,085 2,948,600
Cumulative distributions (1,076,000) (1,036,678)
Accumulated earnings (827,854) (269,926)
Accumulated other comprehensive income 25,817 40,636
Total shareholders’ equity 1,112,084 1,682,668
Noncontrolling interests 91,629 174,655
Total equity 1,203,713 1,857,323
Total liabilities and equity 2,789,625 3,633,376
Related Party    
LIABILITIES AND EQUITY    
Due to related parties $ 573 $ 1,458