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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
ASSETS    
Cash and cash equivalents $ 241,550 $ 391,802
Restricted cash 25,181 9,208
Real estate:    
Land 212,312 231,175
Building and improvements 1,836,900 1,968,314
Tenant origination and absorption cost 370,946 402,251
Construction in progress 1,017 8,371
Total real estate 2,421,175 2,610,111
Less: accumulated depreciation and amortization (554,820) (550,552)
Total real estate, net 1,866,355 2,059,559
Intangible assets, net 27,603 29,690
Deferred rent receivable 65,511 63,272
Deferred leasing costs, net 16,842 19,112
Goodwill 74,052 78,647
Right of use assets 33,369 33,736
Interest rate swap asset 12,042 26,942
Other assets 45,373 27,446
Real estate assets and other assets held for sale, net 36,456 50,211
Total assets 2,444,334 2,789,625
LIABILITIES AND EQUITY    
Debt, net 1,168,010 1,435,923
Interest rate swap liability 10,255 0
Distributions payable 8,436 8,344
Intangible liabilities, net 13,884 16,023
Lease liability 46,860 46,281
Accrued expenses and other liabilities 62,862 78,229
Liabilities held for sale 1,267 539
Total liabilities 1,312,163 1,585,912
Commitments and contingencies (Note 13)
Shareholders’ equity:    
Common shares, $0.001 par value; shares authorized, 800,000,000; shares outstanding in the aggregate, 36,377,254 and 36,304,145 as of September 30, 2024 and December 31, 2023, respectively 37 36
Additional paid-in capital 2,996,900 2,990,085
Cumulative distributions (1,100,893) (1,076,000)
Accumulated deficit (850,992) (827,854)
Accumulated other comprehensive income 2,791 25,817
Total shareholders’ equity 1,047,843 1,112,084
Noncontrolling interests 84,328 91,629
Total equity 1,132,171 1,203,713
Total liabilities and equity 2,444,334 2,789,625
Related Party    
LIABILITIES AND EQUITY    
Due to related parties $ 589 $ 573