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FY2025
12 months to Dec 31, 2025
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FY2024
12 months to Dec 31, 2024
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FY2023
12 months to Dec 31, 2023
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FY2022
12 months to Dec 31, 2022
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FY2021
12 months to Dec 31, 2021
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|---|---|---|---|---|---|
| Cash flows from operating activities: | |||||
| Net income | |||||
| Partnership Interest | |||||
| Total net income | |||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||
| Depreciation and amortization | |||||
| Partnership Interest | |||||
| Total depreciation and amortization | |||||
| Amortization of deferred financing costs and debt premiums | |||||
| Partnership Interest | |||||
| Total amortization of deferred financing costs and debt premiums | |||||
| Amortization of above and below market lease intangibles, net | |||||
| Partnership Interest | |||||
| Total amortization of above and below market lease intangibles, net | |||||
| Stock-based compensation, net of capitalization | |||||
| Partnership Interest | |||||
| Total stock-based compensation, net of capitalization | |||||
| Equity in income of investments in real estate partnerships | |||||
| Partnership Interest | |||||
| Total equity in income of investments in real estate partnerships | |||||
| Gain on sale of real estate, net of tax | |||||
| Partnership Interest | |||||
| Total gain on sale of real estate, net of tax | |||||
| Provision for impairment of real estate, net of tax | |||||
| Partnership Interest | |||||
| Total provision for impairment of real estate, net of tax | |||||
| Loss (gain) on early extinguishment of debt | |||||
| Partnership Interest | |||||
| Total loss (gain) on early extinguishment of debt | |||||
| Distribution of earnings from investments in real estate partnerships | |||||
| Partnership Interest | |||||
| Total distribution of earnings from investments in real estate partnerships | |||||
| Deferred compensation expense | |||||
| Partnership Interest | |||||
| Total deferred compensation expense | |||||
| Realized and unrealized gain on investments | |||||
| Partnership Interest | |||||
| Total realized and unrealized gain on investments | |||||
| Changes in assets and liabilities: | |||||
| Tenant and other receivables | |||||
| Partnership Interest | |||||
| Total tenant and other receivables | |||||
| Deferred leasing costs | |||||
| Partnership Interest | |||||
| Total deferred leasing costs | |||||
| Other assets | |||||
| Partnership Interest | |||||
| Total other assets | |||||
| Accounts payable and other liabilities | |||||
| Partnership Interest | |||||
| Total accounts payable and other liabilities | |||||
| Tenants’ security, escrow deposits and prepaid rent | |||||
| Partnership Interest | |||||
| Total tenants’ security, escrow deposits and prepaid rent | |||||
| Net cash provided by operating activities | |||||
| Partnership Interest | |||||
| Total net cash provided by operating activities | |||||
| Cash flows from investing activities: | |||||
| Acquisition of operating real estate, net of cash acquired of $4,273 in 2025 | |||||
| Partnership Interest | |||||
| Total acquisition of operating real estate, net of cash acquired of $4,273 in 2025 | |||||
| Acquisition of UBP, net of cash acquired of $14,143 | |||||
| Partnership Interest | |||||
| Total acquisition of UBP, net of cash acquired of $14,143 | |||||
| Real estate development and capital improvements | |||||
| Partnership Interest | |||||
| Total real estate development and capital improvements | |||||
| Proceeds from sale of real estate | |||||
| Partnership Interest | |||||
| Total proceeds from sale of real estate | |||||
| Proceeds from property insurance casualty claims | |||||
| Partnership Interest | |||||
| Total proceeds from property insurance casualty claims | |||||
| Issuance of notes receivable | |||||
| Partnership Interest | |||||
| Total issuance of notes receivable | |||||
| Collection of notes receivable | |||||
| Partnership Interest | |||||
| Total collection of notes receivable | |||||
| Investments in real estate partnerships | |||||
| Partnership Interest | |||||
| Total investments in real estate partnerships | |||||
| Return of capital from investments in real estate partnerships | |||||
| Partnership Interest | |||||
| Total return of capital from investments in real estate partnerships | |||||
| Dividends on investment securities | |||||
| Partnership Interest | |||||
| Total dividends on investment securities | |||||
| Purchase of investment securities | |||||
| Partnership Interest | |||||
| Total purchase of investment securities | |||||
| Proceeds from sale of investment securities | |||||
| Partnership Interest | |||||
| Total proceeds from sale of investment securities | |||||
| Net cash used in investing activities | |||||
| Partnership Interest | |||||
| Total net cash used in investing activities | |||||
| Cash flows from financing activities: | |||||
| Net proceeds from common stock issuance | |||||
| Partnership Interest | |||||
| Total net proceeds from common stock issuance | |||||
| Tax withholding on stock-based compensation | |||||
| Partnership Interest | |||||
| Total tax withholding on stock-based compensation | |||||
| Common shares repurchased through share repurchase program | |||||
| Partnership Interest | |||||
| Total common shares repurchased through share repurchase program | |||||
| Redemption of exchangeable operating partnership units | |||||
| Partnership Interest | |||||
| Total redemption of exchangeable operating partnership units | |||||
| Proceeds from sale of treasury stock | |||||
| Partnership Interest | |||||
| Total proceeds from sale of treasury stock | |||||
| Contributions from noncontrolling interests | |||||
| Partnership Interest | |||||
| Total contributions from noncontrolling interests | |||||
| Distributions to and redemptions of noncontrolling interests | |||||
| Partnership Interest | |||||
| Total distributions to and redemptions of noncontrolling interests | |||||
| Distributions to partners | |||||
| Distributions to exchangeable operating partnership unit holders | |||||
| Redemption of EOP units | |||||
| Partnership Interest | |||||
| Total redemption of EOP units | |||||
| Dividends paid to common shareholders | |||||
| Total dividends paid to common shareholders | |||||
| Dividends paid to preferred shareholders | |||||
| Partnership Interest | |||||
| Total dividends paid to preferred shareholders | |||||
| Repayment of fixed rate unsecured notes | |||||
| Partnership Interest | |||||
| Total repayment of fixed rate unsecured notes | |||||
| Proceeds from issuance of fixed rate unsecured notes, net of debt discount | |||||
| Partnership Interest | |||||
| Total proceeds from issuance of fixed rate unsecured notes, net of debt discount | |||||
| Proceeds from unsecured credit facilities | |||||
| Partnership Interest | |||||
| Total proceeds from unsecured credit facilities | |||||
| Repayment of unsecured credit facilities | |||||
| Partnership Interest | |||||
| Total repayment of unsecured credit facilities | |||||
| Proceeds from notes payable | |||||
| Partnership Interest | |||||
| Total proceeds from notes payable | |||||
| Repayment of notes payable | |||||
| Partnership Interest | |||||
| Total repayment of notes payable | |||||
| Scheduled principal payments | |||||
| Partnership Interest | |||||
| Total scheduled principal payments | |||||
| Payment of financing costs | |||||
| Partnership Interest | |||||
| Total payment of financing costs | |||||
| Net cash used in financing activities | |||||
| Partnership Interest | |||||
| Total net cash used in financing activities | |||||
| Net change in cash, cash equivalents and restricted cash | |||||
| Partnership Interest | |||||
| Total net change in cash, cash equivalents and restricted cash | |||||
| Cash, cash equivalents, and restricted cash at beginning of the year | |||||
| Partnership Interest | |||||
| Total cash, cash equivalents, and restricted cash at beginning of the year | |||||
| Cash, cash equivalents, and restricted cash at end of the year | |||||
| Partnership Interest | |||||
| Total cash, cash equivalents, and restricted cash at end of the year | |||||
| Supplemental disclosure of cash flow information: | |||||
| Cash paid for interest (net of capitalized interest of $10,289, $6,627, and $5,695 in 2025, 2024, and 2023, respectively) | |||||
| Partnership Interest | |||||
| Total cash paid for interest (net of capitalized interest of $10,289, $6,627, and $5,695 in 2025, 2024, and 2023, respectively) | |||||
| Cash paid for income taxes, net of refunds | |||||
| Partnership Interest | |||||
| Total cash paid for income taxes, net of refunds | |||||
| Supplemental disclosure of non-cash transactions: | |||||
| Common and Preferred stock, and exchangeable operating partnership dividends declared but not paid | |||||
| Partnership Interest | |||||
| Total common and Preferred stock, and exchangeable operating partnership dividends declared but not paid | |||||
| Mortgage loans assumed by Company with the acquisition of real estate | |||||
| Partnership Interest | |||||
| Total mortgage loans assumed by Company with the acquisition of real estate | |||||
| Right of use assets obtained in exchange for new operating lease liabilities | |||||
| Partnership Interest | |||||
| Total right of use assets obtained in exchange for new operating lease liabilities | |||||
| Sale of leased asset in exchange for net investment in sales-type lease | |||||
| Partnership Interest | |||||
| Total sale of leased asset in exchange for net investment in sales-type lease | |||||
| Acquisition of operating real estate / previously unconsolidated real estate investments: | |||||
| Tenant and other receivable and other assets | |||||
| Acquired lease intangible assets | |||||
| Operating Real Estate | |||||
| Unconsolidated Real Estate Investments | |||||
| Notes payable assumed in acquisition, at fair value | |||||
| Partnership Interest | |||||
| UBP Acquisition | |||||
| Operating Real Estate | |||||
| Unconsolidated Real Estate Investments | |||||
| Intangible liabilities, accounts payable and other liabilities | |||||
| Operating Real Estate | |||||
| Unconsolidated Real Estate Investments | |||||
| Noncontrolling interest assumed in acquisition, at fair value | |||||
| Common stock issued for partnership units exchanged | |||||
| Partnership Interest | |||||
| Total common stock issued for partnership units exchanged | |||||
| EOP units issued for acquisition of real estate | |||||
| Partnership Interest | |||||
| Total eOP units issued for acquisition of real estate | |||||
| Real estate received in lieu of rental revenue | |||||
| Partnership Interest | |||||
| Total real estate received in lieu of rental revenue | |||||
| Acquisition of real estate assets | |||||
| Exchangeable operating partnership units issued for acquisition of real estate | |||||
| Partnership Interest | |||||
| Total exchangeable operating partnership units issued for acquisition of real estate | |||||
| Change in accrued capital expenditures | |||||
| Partnership Interest | |||||
| Total change in accrued capital expenditures | |||||
| Common stock issued under dividend reinvestment plan | |||||
| Partnership Interest | |||||
| Total common stock issued under dividend reinvestment plan | |||||
| Stock-based compensation capitalized | |||||
| Partnership Interest | |||||
| Total stock-based compensation capitalized | |||||
| Contributions to investments in real estate partnerships | |||||
| Partnership Interest | |||||
| Total contributions to investments in real estate partnerships | |||||
| Contributions from limited partners in consolidated partnerships | |||||
| Partnership Interest | |||||
| Total contributions from limited partners in consolidated partnerships | |||||
| Common stock issued for dividend reinvestment in trust | |||||
| Partnership Interest | |||||
| Total common stock issued for dividend reinvestment in trust | |||||
| Contribution of stock awards into trust | |||||
| Partnership Interest | |||||
| Total contribution of stock awards into trust | |||||
| Distribution of stock held in trust | |||||
| Partnership Interest | |||||
| Total distribution of stock held in trust | |||||
| Change in fair value of securities | |||||
| Partnership Interest | |||||
| Total change in fair value of securities | |||||
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