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v3.25.2

Leases (Tables) | 6 Months Ended
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Jun. 30, 2025
Leases |
Summary of lease income | The following table includes information regarding contractual lease payments for the Company’s operating leases for which it is the lessor, for the periods presented (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Six Months Ended
​ | ​ | June 30, 2025 |  | June 30, 2024 |  | June 30, 2025 | ​ | June 30, 2024
Total lease payments | ​ | $ | 180,348 | ​ | $ | 157,223 | ​ | $ | 354,087 | ​ | $ | 312,086
Less: Operating cost reimbursements, termination income and percentage rents | ​ |  | 19,947 | ​ |  | 18,505 | ​ |  | 39,742 | ​ |  | 36,506
Total non-variable lease payments | ​ | $ | 160,401 | ​ | $ | 138,718 | ​ | $ | 314,345 | ​ | $ | 275,580
Summary of lease income to be received | At June 30, 2025, future non-variable lease payments to be received from the Company’s operating leases are as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2025 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Year Ending December 31, |  | (remaining) | ​ | 2026 |  | 2027 |  | 2028 |  | 2029 |  | Thereafter |  | Total
Future non-variable lease payments | ​ | $ | 344,240 | ​ | $ | 688,827 |  | $ | 664,574 |  | $ | 626,888 |  | $ | 570,301 | ​ | $ | 2,915,551 |  | $ | 5,810,381
Summary of lease costs | The following tables include information on the Company’s land leases for which it is the lessee, for the periods presented (dollars in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | ​ | Six Months Ended
​ |  | June 30, 2025 |  | June 30, 2024 |  | ​ | June 30, 2025 |  | June 30, 2024
Operating leases: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating cash outflows | ​ | $ | 444 | ​ | $ | 299 | ​ | ​ | $ | 881 | ​ | $ | 598
Weighted-average remaining lease term - operating leases (years) | ​ | ​ | 32.1 | ​ | ​ | 29.9 | ​ | ​ | ​ | 32.1 | ​ | ​ | 29.9
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Finance leases: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating cash outflows | ​ | $ | 48 | ​ | $ | 62 | ​ | ​ | $ | 96 | ​ | $ | 124
Financing cash outflows | ​ | $ | 3 | ​ | $ | 22 | ​ | ​ | $ | 5 | ​ | $ | 43
Weighted-average remaining lease term - finance leases (years) | ​ | ​ | 26.6 | ​ | ​ | 0.3 | ​ | ​ | ​ | 26.6 | ​ | ​ | 0.3
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Supplemental Disclosure: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Right of use assets added under new ground leases | ​ | $ | — | ​ | $ | 365 | ​ | ​ | $ | 1,767 | ​ | $ | 365
Right of use assets removed as a result of acquisition of real property | ​ | ​ | (2,736) | ​ | ​ | — | ​ | ​ | ​ | (2,736) | ​ | ​ | —
Right of use assets net change | ​ | $ | (2,736) | ​ | $ | 365 | ​ | ​ | $ | (969) | ​ | $ | 365
Summary of maturity analysis of lease liabilities for operating land leases | The following is a maturity analysis of lease liabilities for operating land leases as of June 30, 2025 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2025 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Year Ending December 31, |  | (remaining) | ​ | 2026 |  | 2027 |  | 2028 |  | 2029 |  | Thereafter |  | Total
Lease payments | ​ | $ | 909 | ​ | $ | 1,835 |  | $ | 1,683 |  | $ | 1,654 |  | $ | 1,644 | ​ | $ | 28,559 |  | $ | 36,284
Imputed interest | ​ |  | (428) | ​ |  | (819) | ​ |  | (772) | ​ |  | (725) | ​ |  | (677) | ​ |  | (13,321) | ​ |  | (16,742)
Total lease liabilities | ​ | $ | 481 | ​ | $ | 1,016 |  | $ | 911 |  | $ | 929 |  | $ | 967 | ​ | $ | 15,238 |  | $ | 19,542
Summary of maturity analysis of lease liabilities for finance land leases | The following is a maturity analysis of lease liabilities for finance land leases as of June 30, 2025 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2025 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Year Ending December 31, |  | (remaining) | ​ | 2026 |  | 2027 |  | 2028 |  | 2029 |  | Thereafter |  | Total
Lease payments | ​ | $ | 90 | ​ | $ | 187 |  | $ | 201 |  | $ | 201 | ​ | $ | 202 | ​ | $ | 6,143 |  | $ | 7,024
Imputed interest | ​ |  | (96) | ​ |  | (192) | ​ |  | (192) | ​ |  | (191) | ​ | ​ | (191) | ​ | ​ | (2,964) | ​ |  | (3,826)
Total lease liabilities | ​ | $ | (6) | ​ | $ | (5) |  | $ | 9 |  | $ | 10 |  | $ | 11 | ​ | $ | 3,179 |  | $ | 3,198
​

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- 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 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + Details
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- Definition Tabular disclosure of maturity of undiscounted cash flows to be received by lessor on annual basis for operating lease. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479773/842-30-50-12 + Details
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