XML 21 R3.htm IDEA: XBRL DOCUMENT v3.25.4
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Real estate properties:    
Land $ 1,750,799 $ 1,930,459
Buildings, improvements and equipment 6,198,233 7,682,885
Total real estate properties, gross 7,949,032 9,613,344
Accumulated depreciation (2,442,966) (3,238,636)
Total real estate properties, net 5,506,066 6,374,708
Acquired real estate leases and other intangibles, net 100,044 107,956
Assets of properties held for sale 94,366 43,101
Cash and cash equivalents 346,813 143,482
Restricted cash 25,275 13,904
Equity method investment 111,796 115,818
Due from related persons 241 3,911
Other assets, net 306,979 316,678
Total assets 6,491,580 7,119,558
LIABILITIES AND SHAREHOLDERS’ EQUITY    
Unsecured debt, net 3,233,683 4,020,347
Secured debt, net 2,100,745 1,690,356
Liabilities of properties held for sale 5,329 342
Total liabilities 5,845,456 6,267,685
Commitments and contingencies
Shareholders’ equity:    
Common shares of beneficial interest, $.01 par value; 200,000,000 shares authorized; 168,070,129 and 166,636,537 shares issued and outstanding, respectively 1,681 1,666
Additional paid in capital 4,563,371 4,560,334
Cumulative other comprehensive income 2,068 1,865
Cumulative net income 1,992,653 2,194,974
Cumulative common distributions (5,913,649) (5,906,966)
Total shareholders’ equity 646,124 851,873
Total liabilities and shareholders’ equity 6,491,580 7,119,558
Nonrelated Party    
LIABILITIES AND SHAREHOLDERS’ EQUITY    
Accounts payable and other liabilities and due to related persons 458,908 532,522
Related Party    
LIABILITIES AND SHAREHOLDERS’ EQUITY    
Accounts payable and other liabilities and due to related persons $ 46,791 $ 24,118