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Consolidated and Combined Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
ASSETS    
Buildings and equipment $ 522,667 $ 528,299
Less: accumulated depreciation (215,484) (203,208)
Land 9,497 9,497
Developments 146,461 102,874
Net investment in real estate 463,141 437,462
Investments in unconsolidated ventures 28,326 37,459
Cash and cash equivalents 165,667 1,834
Restricted cash 2,178 42,011
Accounts receivable, net 5,246 13,672
Deferred expenses, net 4,515 4,379
Operating lease right-of-use assets, net 38,682 40,884
Other assets, net 35,801 39,112
Total assets 743,556 616,813
LIABILITIES    
Mortgages payable, net 101,593 155,628
Operating lease obligations 47,470 48,153
Accounts payable and other liabilities 23,111 28,139
Total liabilities 172,174 231,920
Commitments and Contingencies (see Note 8)
EQUITY    
Preferred stock, $0.01 par value, 20,000 shares authorized, none issued or outstanding
Common stock, $0.01 par value, 480,000 shares authorized, 12,708 issued and outstanding in 2024 and none issued or outstanding in 2023 127  
Additional paid in capital 613,015  
Accumulated deficit (51,660)  
Net parent investment   384,893
Stockholders' equity 561,482 384,893
Noncontrolling interest in subsidiary 9,900  
Total equity 571,382 384,893
Total liabilities and equity $ 743,556 $ 616,813