7Baggers
Quarterly
Annual
    Unit: USD2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2019-03-31 2018-12-31 2018-09-30 2018-06-30 2018-03-31 2017-06-30 2017-03-31 2016-07-07 2016-06-30 2016-03-31 
      
    		                                    
      cash flow from operating activities
    		                                    
      net income
    		-12,422,000 -28,506,000 -22,202,000 -11,351,000 -21,973,000 -101,227,000 -18,985,000 3,684,000 -902,000 -95,707,000 -61,986,000 92,454,000 -3,481,000 -142,083,000 -66,987,000 93,601,000 -26,349,000 -95,304,000 -10,933,000 -49,692,000 -72,401,000 104,000 -30,975,000 -37,342,000 -16,482,000 -25,885,000 -10,894,000 -85,733,000 -34,744,000 -10,602,000 16,201,000 -34,867,000 -32,844,000 -37,247,000 -12,565,000 -14,714,000 
      adjustments to reconcile net income to net cash from operating activities:
    		                                    
      equity in loss of unconsolidated entities
    		-644,000   3,085,000 -118,000   6,780,000 -993,000 13,698,000 36,372,000 3,009,000 2,275,000 33,720,000 33,076,000 202,000 5,535,000 2,327,000 1,162,000 2,161,000                 
      loss on sale of interests in unconsolidated entities
    		0                                    
      distributions from unconsolidated entities
    		909,000 1,329,000 1,276,000 854,000 1,947,000           1,482,000 -1,000,000 99,000 1,042,000 120,000                 
      gain on sale of real estate
    		0 -1,967,000 -6,936,000 -3,321,000 -4,184,000 -2,034,000 -1,139,000 -31,828,000 -18,506,000   -99,487,000 -45,433,000   -156,602,000 -22,774,000 -18,097,000 -24,208,000 -28,596,000 12,893,000 -52,064,000 -20,788,000 -25,786,000 -12,445,000 -11,612,000 -21,261,000 -2,746,000 -17,401,000 -34,187,000 -41,831,000      
      impairment of real estate assets
    		800,000   0 0 86,388,000 1,148,000 0 0 104,467,000 2,576,000 6,278,000 10,275,000 109,343,000 991,000 25,773,000 3,814,000 64,539,000 1,700,000 47,701,000                 
      share-based compensation
    		0 0 201,000 82,000 284,000 478,000 644,000 661,000 647,000 653,000 774,000 1,032,000 843,000 467,000 425,000 631,000 272,000 42,000 911,000 -6,214,000 1,374,000 626,000 1,179,000 2,611,000 1,349,000 1,353,000 1,532,000          
      depreciation and amortization
    		1,698,000 2,040,000 2,075,000 2,258,000 4,377,000 1,212,000 5,271,000 2,843,000 2,913,000 4,151,000 4,564,000 9,342,000 9,169,000 10,669,000 11,934,000 11,570,000 13,159,000 13,328,000 13,142,000 14,551,000 23,647,000 23,702,000 34,097,000 36,578,000 21,593,000 20,194,000 26,216,000 92,627,000 49,830,000 49,551,000 34,667,000 50,571,000 58,663,000 44,532,000 37,324,000 39,509,000 
      amortization of deferred financing costs
    		       0 35,000 106,000 105,000 106,000 105,000 106,000 105,000 105,000 105,000 106,000 106,000 105,000 105,000 105,000 106,000 105,000 106,000 105,000 118,000 101,000 6,631,000 1,870,000 1,720,000 2,479,000 1,582,000 1,341,000 1,340,000 1,340,000 
      amortization of above and below market leases
    		30,000 44,000 43,000 44,000 69,000 38,000 38,000 38,000 45,000 45,000 48,000 48,000 54,000 56,000 65,000 65,000 48,000 102,000 -39,000 -116,000 -1,541,000 -39,000 -97,000 -113,000 -135,000 -143,000 -104,000 -178,000 -176,000 -180,000 -234,000 -399,000 -195,000 -190,000 -138,000 -192,000 
      straight-line rent adjustment
    		-166,000 -34,000 259,000 666,000 5,000 179,000 67,000 730,000 1,504,000 3,796,000 10,842,000 176,000 2,873,000 -3,599,000 -721,000 -236,000 -1,005,000 -1,238,000 210,000 1,362,000 -1,774,000 2,694,000 2,701,000 35,000 -6,661,000 -5,609,000 -3,355,000 4,575,000 1,082,000 -379,000 -2,453,000 -1,945,000 -1,534,000 -3,015,000 -3,823,000 -4,404,000 
      abandoned project costs
    		   0                                 
      non-cash lease expense
    		147,000 438,000 437,000                                  
      change in operating assets and liabilities
    		                                    
      tenant and other receivables
    		198,000 395,000 75,000                                  
      prepaid expenses, deferred expenses and other assets
    		-4,386,000 -1,597,000 2,567,000 3,741,000 -4,685,000 -551,000 2,406,000 3,611,000 -2,680,000 -17,000 5,034,000 6,028,000 -4,902,000 845,000 868,000 4,577,000 -6,941,000 -2,375,000 1,151,000 3,448,000 -8,578,000 5,075,000 -124,000 2,717,000 -12,797,000 5,179,000 -248,000 4,281,000 -11,124,000 1,261,000 -4,229,000 1,148,000 -687,000 -4,262,000 11,218,000 1,540,000 
      accounts payable, accrued expenses and other liabilities
    		660,000 -2,844,000 5,084,000 -7,870,000 2,090,000 2,760,000 -10,046,000 -5,262,000 6,352,000 46,000 -12,557,000 -26,639,000 6,807,000 1,071,000 -2,491,000 -30,227,000 2,278,000 -11,177,000 3,352,000 -8,496,000 3,717,000 20,529,000 5,061,000 -5,902,000 7,521,000 -807,000 -8,818,000 16,389,000 -1,313,000 482,000 -502,000 -31,490,000 9,039,000 18,590,000 6,423,000 -970,000 
      net cash from operating activities
    		-12,508,000 -12,041,000 -9,193,000 -13,927,000 -15,469,000 -7,528,000 -16,624,000 -11,040,000 -10,494,000 -9,575,000 -21,952,000 -44,376,000 -19,046,000 -24,453,000 -30,048,000   -44,506,000 -12,110,000 -22,014,000 -6,955,000 -8,145,000 -10,200,000 -19,311,000 -11,819,000 -9,759,000 -16,771,000 40,603,000 -1,909,000 8,546,000 7,659,000 -8,710,000 37,925,000 34,061,000 40,108,000 24,922,000 
      cash flow from investing activities
    		                                    
      investment in unconsolidated entities
    		0   -228,000 -5,796,000 -306,000 -2,925,000 -1,422,000 -821,000 -3,462,000 -7,665,000 -3,080,000 -7,007,000 -7,819,000 -7,613,000 -6,922,000 -10,443,000 -11,377,000 -9,902,000 -12,231,000                 
      net proceeds from sale of interests in unconsolidated entities
    		0                                    
      net proceeds from sale of real estate
    		0 22,802,000 28,758,000 49,215,000 23,432,000 38,728,000 44,312,000 96,022,000 59,005,000 238,461,000 279,985,000 314,243,000 160,865,000 159,719,000 8,467,000 197,239,000 72,856,000 78,093,000 44,234,000 97,101,000 92,284,000 84,163,000 58,330,000 57,363,000 29,384,000 16,189,000 37,569,000 39,405,000 36,093,000 74,164,000 60,435,000      
      development of real estate
    		-3,734,000 -4,733,000 -13,308,000 -1,780,000 -3,287,000 -9,967,000 -12,480,000 -18,163,000 -11,679,000 -17,873,000 -32,030,000 -21,217,000 -25,045,000 -30,558,000 -22,474,000 -28,101,000 -32,605,000 -18,145,000 -26,804,000 -51,856,000 -55,682,000 -65,672,000 -73,610,000 -108,544,000 -96,582,000 -97,147,000 -85,413,000 -103,220,000 -68,332,000 -56,020,000 -85,983,000 -83,227,000 -22,848,000 -14,013,000 -26,190,000 -7,033,000 
      net cash from investing activities
    		-2,525,000 26,246,000 19,841,000 55,146,000 14,362,000 28,455,000 28,907,000 87,347,000 138,772,000 266,502,000 240,290,000 289,952,000 196,245,000 121,403,000 -21,521,000 164,887,000 39,721,000 48,571,000 7,528,000 52,565,000 27,008,000 -5,681,000 -31,024,000 -72,524,000    -72,199,000 -42,217,000 19,995,000 -25,054,000 -92,331,000 -28,791,000 -13,005,000 -18,967,000 -3,532,000 
      cash flow from financing activities
    		                                    
      repayment of term loan
    		0   -40,000,000 0 -50,000,000 -30,000,000 -40,000,000 -150,000,000 -250,000,000 -230,000,000                          
      payment of deferred financing costs
    		                           -267,000 -1,842,000 0 -363,000 -1,003,000 -1,446,000    
      preferred dividends paid
    		-1,225,000 -1,225,000 -1,225,000 -1,225,000 -1,225,000 -1,225,000 -1,225,000 -1,225,000 -1,225,000 -1,225,000 -1,225,000 -1,225,000 -1,225,000 -1,225,000 -1,225,000 -1,225,000 -1,225,000 -1,225,000 -1,225,000 -1,225,000 -1,225,000 -1,225,000 -1,225,000 -1,225,000 -1,225,000 -1,225,000 -1,225,000 -1,134,000 -1,225,000        
      contributions from non-controlling member of consolidated variable interest entities
    		0                                    
      net cash from financing activities
    		-5,225,000 -41,207,000 -1,225,000 -41,722,000 -1,196,000 -51,170,000 -31,225,000 -41,455,000 -151,184,000 -251,225,000 -231,225,000 -241,225,000 -193,295,000 -1,225,000 -1,225,000 -161,232,000 2,549,000 -1,323,000 -1,206,000   -1,236,000 -1,299,000 -1,225,000 -1,336,000 -17,020,000 -16,866,000 -17,168,000 358,841,000 -74,145,000 -87,329,000 143,060,000 -8,359,000    
      net decrease in cash and cash equivalents, and restricted cash
    		-20,258,000                                    
      cash and cash equivalents, and restricted cash, beginning of period
    		0 0 97,709,000 0 0 0 149,700,000 0 0 0 144,939,000  0 0 113,753,000  0 0 150,254,000                  
      cash and cash equivalents, and restricted cash, end of period
    		-20,258,000 -27,002,000 107,132,000 -503,000 -2,303,000 -30,243,000 130,758,000 34,852,000 -22,906,000 5,702,000 132,052,000  -16,096,000 95,725,000 60,959,000  13,320,000 2,742,000 144,466,000                  
      equity in loss (income) of unconsolidated entities
    		  7,928,000                                  
      net increase in cash and cash equivalents
    		  9,423,000          -16,096,000                     26,379,000   
      gain on sale of interest in unconsolidated entities
    		                                    
      tenants and other receivables
    		   -52,000 621,000 192,000 4,351,000 7,703,000 175,000 -2,000 4,668,000 -1,728,000 1,275,000 -2,030,000 -8,340,000 -1,385,000 3,720,000 3,142,000 294,000 3,410,000 18,814,000 -10,199,000 -2,300,000 4,074,000 476,000 -2,478,000 484,000 2,006,000 814,000 -4,110,000 1,034,000 -154,000 419,000 7,574,000 1,232,000 -381,000 
      purchase of shares related to stock grant recipients' tax withholdings
    		                0 -124,000 -138,000 0 0 -11,000 -74,000 0 -111,000 -1,799,000 -1,613,000          
      contributions from noncontrolling interests to consolidated vies
    		                                    
      net (decrease) and increase in cash and cash equivalents
    		        -22,906,000                            
      non-cash lease expenses
    		    366,000                                
      net proceeds from disposition of interests in unconsolidated entities
    		                                    
      contributions from non-controlling member of consolidated vies
    		                                    
      net decrease in cash and cash equivalents
    		    -2,303,000 -30,243,000 -18,942,000    -12,887,000    -52,794,000   2,742,000 -5,788,000  39,244,000 -15,062,000 -42,523,000             -6,442,000 
      equity in (income) loss of unconsolidated entities
    		      -379,000                              
      (gain) loss on sale of interest in unconsolidated entities
    		       0                             
      interest on sale-leaseback financing obligations
    		           0 422,000 13,000 12,000 14,000                     
      repayment of sales-leaseback financing obligations
    		           0                         
      contributions from noncontrolling interests in to consolidated vies
    		       85,000                             
      net increase and (decrease) in cash and cash equivalents
    		                                    
      litigation settlement
    		                                    
      net proceeds from disposition of interest in unconsolidated entities
    		        92,267,000                            
      (gain) loss on sale of real estate
    		          -12,392,000                          
      repayment of term loan facility
    		                                    
      proceeds from sale-leaseback financing obligations
    		                   9,000                 
      purchase of shares related to stock grant recipients’ tax withholdings
    		                                    
      contributions from noncontrolling interests in other partnerships
    		                                    
      net increase in cash, cash equivalents, and restricted cash
    		                       -93,060,000    -48,764,000 314,715,000 -45,604,000 -104,724,000 42,019,000 775,000    
      cash, cash equivalents, and restricted cash, beginning of period
    		                       0 0 0 532,857,000 0 0 0 417,234,000 0 139,642,000    
      cash, cash equivalents, and restricted cash, end of period
    		                       -93,060,000 -93,185,000 -117,120,000 442,625,000 -48,764,000 314,715,000 -45,604,000 312,510,000 42,019,000 140,417,000    
      loss on sale of interest in unconsolidated entities
    		                                    
      litigation reserve
    		            533,000                        
      loss/(gain) on sale of real estate
    		              1,015,000                      
      proceeds from issuance of common stock and non-controlling interest
    		                                    
      common dividends paid
    		                       0 0 -8,966,000 -8,998,000 -8,897,000 -8,915,000 -8,988,000 -8,877,000 -8,466,000 -8,447,000 -7,872,000 -7,872,000 -15,738,000 
      non-controlling interests distributions paid
    		                       0 0 -5,030,000 -5,030,000 -5,030,000 -5,030,000 -5,003,000 -5,055,000 -5,458,000 -5,477,000 -6,044,000 -6,044,000 -12,088,000 
      net cash (used in) operating activities
    		                                    
      net increase / (decrease) in cash and cash equivalents
    		                                    
      repayment of sale-leaseback financing obligations
    		                 26,000 157,000                  
      change in fair value of interest rate cap
    		                                    
      proceeds from term loan facility
    		                           0         
      repayment of mortgage loans payable
    		                           0 -1,079,147,000 -58,380,000 -73,034,000      
      repayment of unsecured term loan
    		                           0         
      preferred stock offering costs
    		                                    
      net cash provided (used) in financing activities
    		                                    
      equity in loss of unconsolidated joint ventures
    		                     1,322,000 894,000 3,656,000 5,616,000    2,266,000        
      distributions from unconsolidated joint ventures
    		                     0 46,000 56,000 40,000 0 781,000 -7,933,000 3,384,000 6,395,000 2,110,000 3,892,000 3,623,000 3,679,000 4,342,000 3,851,000 
      investment in unconsolidated joint ventures
    		                     -24,172,000 -16,894,000 -21,483,000 -13,092,000 -10,478,000 -9,140,000 -7,483,000 -13,362,000 -4,544,000 -1,616,000      
      cash and cash equivalents, beginning of period
    		                     0 139,260,000           0 0 62,867,000 
      cash and cash equivalents, end of period
    		                     -15,062,000 96,737,000           26,379,000 7,225,000 56,425,000 
      unrealized loss on interest rate cap
    		                               124,000 471,000 47,000 480,000 1,371,000 
      gain on sale of interest in unconsolidated joint venture
    		                                    
      net proceeds from disposition of interest in unconsolidated joint ventures
    		                                    
      proceeds from future funding facility
    		                               72,987,000 7,011,000    
      proceeds from unsecured term loan
    		                                    
      repayment of unsecured delayed draw term loan
    		                                    
      proceeds from issuance of preferred stock
    		                                    
      payment of preferred offering costs
    		                                    
      net cash used by investing activities
    		                                    
      net decrease in cash, cash equivalents, and restricted cash
    		                         -117,120,000 -90,232,000          
      equity in (income) loss of unconsolidated joint ventures
    		                          -1,222,000          
      unrealized (gain) loss on interest rate cap
    		                              -165,000      
      net cash from by investing activities
    		                          -56,595,000          
      equity in loss (income) of unconsolidated joint ventures
    		                              2,582,000      
      loss on interest rate cap
    		                                    
      stock-based compensation
    		                            2,210,000 2,510,000 869,000 389,000 390,000 267,000 267,000 267,000 
      offering related costs
    		                            0        
      investments in unconsolidated joint ventures
    		                               -9,104,000 -5,943,000    
      net proceeds from disposition of interest in unconsolidated joint venture
    		                                    
      supplemental disclosure of cash flow information
    		                                    
      cash payments for interest
    		                               17,932,000 16,052,000 15,422,000 15,268,000 14,805,000 
      capitalized interest
    		                               2,184,000 1,177,000 915,000 723,000 560,000 
      income taxes paid
    		                               147,000 119,000 99,000 158,000 155,000 
      supplemental disclosure of non-cash investing and financing activities
    		                                    
      development of real estate financed with accounts payable
    		                               6,201,000 5,899,000 -2,234,000 1,819,000 3,857,000 
      dividends and distribution declared and unpaid
    		                               0 13,969,000 1,000 1,000 13,952,000 
      decrease in assets and liabilities resulting from deconsolidated properties
    		                                    
      real estate
    		                                    
      lease intangible assets
    		                                    
      acquisition of real estate and unconsolidated joint ventures
    		                                    
      proceeds from issuance of mortgage loans payable
    		                                    
      equity in income of unconsolidated joint ventures
    		                                -1,002,000 -1,497,000 -912,000 -2,086,000 
      restricted cash
    		                                 4,242,000 -5,080,000 -209,000 
      decrease (increase) in restricted cash
    		                                    
      net cash used by financing activities
    		                                   -27,832,000 
      decrease in restricted cash
    		                                  7,223,000 3,501,000 
      payment of financing costs
    		                                  0 -6,000 
      increase in restricted cash
    		                                    
    The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.