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Segment Information (Tables) | 3 Months Ended
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Mar. 31, 2025
Segment Reporting [Abstract] |
Schedue of Reconciliations of Amounts to Consolidated Net Income | The following tables provide information about the Company's reportable segment's revenues, significant expenses, NOI and the reconciliation of NOI to the Company’s consolidated Net income:
| Three months ended March 31, |
| 2025 |  |  | 2024 |
Lease income | $ | 408,088 |  |  |  | 386,349 |
Other property income |  | 3,379 |  |  |  | 4,594 |
Less: |  |  |  |  |
Straight-line rent on lease income |  | (6,451 | ) |  |  | (5,511 | )
Above/below market rent amortization, net |  | (7,005 | ) |  |  | (6,012 | )
Total real estate revenues |  | 398,011 |  |  |  | 379,420 |
Operating expenses (1) |  | (73,464 | ) |  |  | (68,072 | )
Real estate taxes |  | (51,009 | ) |  |  | (48,410 | )
NOI | $ | 273,538 |  |  |  | 262,938 |
(1) Operating expenses include Operating and maintenance, Ground rent and Termination expense
Summary of Reconciliation of NOI to Net Income |
| Three months ended March 31, |
| 2025 |  |  | 2024 |
Reconciliation of NOI to Net income: |  |  |  |  |
NOI | $ | 273,538 |  |  |  | 262,938 |
Consolidated: |  |  |  |  |
Straight-line rent on lease income |  | 5,607 |  |  |  | 5,594 |
Above/below market rent amortization, net |  | 6,750 |  |  |  | 5,823 |
Management, transaction, and other fees |  | 6,812 |  |  |  | 6,396 |
Straight-line rent on ground rent |  | (337 | ) |  |  | (341 | )
Above/below market ground rent amortization |  | (535 | ) |  |  | (535 | )
Depreciation and amortization |  | (96,774 | ) |  |  | (97,585 | )
General and administrative |  | (21,600 | ) |  |  | (26,132 | )
Other operating expenses |  | (1,688 | ) |  |  | (2,643 | )
Other expense, net |  | (48,673 | ) |  |  | (29,214 | )
Add: Share of noncontrolling interests excluded from NOI |  | 2,204 |  |  |  | 2,046 |
Less: Equity in income of investments in real estate excluded from NOI |  | (13,451 | ) |  |  | (13,689 | )
Net income | $ | 111,853 |  |  |  | 112,658 |

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- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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- Definition Tabular disclosure of all significant reconciling items in the reconciliation of total revenues from reportable segments to the entity's consolidated revenues. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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