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v3.25.3

Leases (Tables) | 9 Months Ended
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Sep. 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 | ​ | Nine Months Ended
​ | ​ | September 30, 2025 |  | September 30, 2024 |  | September 30, 2025 | ​ | September 30, 2024
Total lease payments | ​ | $ | 187,574 | ​ | $ | 159,566 | ​ | $ | 541,661 | ​ | $ | 471,652
Less: Operating cost reimbursements, termination income and percentage rents | ​ |  | 21,090 | ​ |  | 16,246 | ​ |  | 60,831 | ​ |  | 52,752
Total non-variable lease payments | ​ | $ | 166,484 | ​ | $ | 143,320 | ​ | $ | 480,830 | ​ | $ | 418,900
Summary of lease income to be received | At September 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 | ​ | $ | 171,883 | ​ | $ | 688,902 |  | $ | 667,378 |  | $ | 629,644 |  | $ | 577,226 | ​ | $ | 2,963,121 |  | $ | 5,698,154
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 | ​ | ​ | Nine Months Ended
​ |  | September 30, 2025 |  | September 30, 2024 |  | ​ | September 30, 2025 |  | September 30, 2024
Operating leases: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating cash outflows | ​ | $ | 454 | ​ | $ | 299 | ​ | ​ | $ | 1,335 | ​ | $ | 898
Weighted-average remaining lease term - operating leases (years) | ​ | ​ | 29.6 | ​ | ​ | 29.9 | ​ | ​ | ​ | 29.6 | ​ | ​ | 29.9
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Finance leases: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating cash outflows | ​ | $ | 48 | ​ | $ | 62 | ​ | ​ | $ | 143 | ​ | $ | 186
Financing cash outflows | ​ | $ | 3 | ​ | $ | 25 | ​ | ​ | $ | 8 | ​ | $ | 68
Weighted-average remaining lease term - finance leases (years) | ​ | ​ | 26.3 | ​ | ​ | 2.2 | ​ | ​ | ​ | 26.3 | ​ | ​ | 2.2
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Supplemental Disclosure: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Right of use assets added under new ground leases | ​ | $ | — | ​ | $ | 596 | ​ | ​ | $ | 1,767 | ​ | $ | 961
Right of use assets removed as a result of acquisition of real property | ​ | ​ | — | ​ | ​ | — | ​ | ​ | ​ | (2,736) | ​ | ​ | —
Right of use assets net change | ​ | $ | — | ​ | $ | 596 | ​ | ​ | $ | (969) | ​ | $ | 961
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 September 30, 2025 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2025 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Year Ending December 31, |  | (remaining) | ​ | 2026 |  | 2027 |  | 2028 |  | 2029 |  | Thereafter |  | Total
Lease payments | ​ | $ | 454 | ​ | $ | 1,835 |  | $ | 1,683 |  | $ | 1,654 |  | $ | 1,644 | ​ | $ | 28,559 |  | $ | 35,829
Imputed interest | ​ |  | (212) | ​ |  | (819) | ​ |  | (772) | ​ |  | (725) | ​ |  | (677) | ​ |  | (13,321) | ​ |  | (16,526)
Total lease liabilities | ​ | $ | 242 | ​ | $ | 1,016 |  | $ | 911 |  | $ | 929 |  | $ | 967 | ​ | $ | 15,238 |  | $ | 19,303
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 September 30, 2025 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2025 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Year Ending December 31, |  | (remaining) | ​ | 2026 |  | 2027 |  | 2028 |  | 2029 |  | Thereafter |  | Total
Lease payments | ​ | $ | 45 | ​ | $ | 187 |  | $ | 201 |  | $ | 201 |  | $ | 202 | ​ | $ | 6,143 |  | $ | 6,979
Imputed interest | ​ |  | (55) | ​ |  | (192) | ​ |  | (192) | ​ |  | (191) | ​ |  | (191) | ​ |  | (2,964) | ​ |  | (3,785)
Total lease liabilities | ​ | $ | (10) | ​ | $ | (5) |  | $ | 9 |  | $ | 10 |  | $ | 11 | ​ | $ | 3,179 |  | $ | 3,194
​

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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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