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Leases (Tables)

9 Months Ended

Sep. 30, 2025

Leases [Abstract]

Summary Of Operating Lease Income

The disaggregation of the Company’s lease income, which is included in Revenues from rental properties, net on the Company’s Condensed Consolidated Statements of Income, as either fixed or variable lease income based on the criteria specified in ASC 842, for the three and nine months ended September 30, 2025 and 2024, was as follows (in thousands):

		Three Months Ended September 30,								Nine Months Ended September 30,
		2025				2024				2025				2024
Lease income:
Fixed lease income (1)		$	418,855			$	405,468			$	1,248,753			$	1,199,803
Variable lease income (2)			104,835				96,732				323,651				295,019
Above-market and below-market leases amortization, net			9,656				7,222				22,300				17,567
Adjustments for potentially uncollectible lease income or disputed    amounts			(2,233	)			(6,547	)			(11,375	)			(14,388	)
Total lease income		$	531,113			$	502,875			$	1,583,329			$	1,498,001

(1)Includes minimum base rents, expense reimbursements, ancillary income and straight-line rent adjustments.

(2)Includes minimum base rents, expense reimbursements, percentage rent, lease termination fee income and ancillary income.

Summary Of Weighted-average Remaining Non-cancelable Lease Term And Weighted-average Discount Rates

The weighted-average remaining non-cancelable lease term and weighted-average discount rates for the Company’s operating leases as of September 30, 2025 were as follows:

		Operating Leases
Weighted-average remaining lease term (in years)			29.18
Weighted-average discount rate			6.78	%

The components of the Company’s lease expense, which are included in interest expense, rent expense and general and administrative expense on the Company’s Condensed Consolidated Statements of Income for the three and nine months ended September 30, 2025 and 2024, were as follows (in thousands):

		Three Months Ended September 30,								Nine Months Ended September 30,
		2025				2024				2025				2024
Lease cost:
Finance lease cost		$	-			$	365			$	43			$	1,096
Operating lease cost			3,600				3,797				10,641				11,511
Variable lease cost			656				529				2,221				1,690
Total lease cost		$	4,256			$	4,691			$	12,905			$	14,297

X

- Definition

Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478964/842-20-50-4

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X

- References

No definition available.

+ Details

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X

- Definition

Tabular disclosure of components of income from operating lease.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479773/842-30-50-5

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-6A

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