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Leases (Tables)
 3 Months Ended
Mar. 31, 2024
Leases [Abstract]  
Operating Lease, Lease Income [Table Text Block]
The following table summarizes the components of rental income included in the accompanying Consolidated Statements of Operations for the three months ended March 31, 2024 and 2023.

 Three months ended March 31,
Rental Income (in thousands)20242023
Fixed lease payments$142,111 $131,086 
Variable lease payments42,189 36,946 
Straight-line rental income2,805 5,112 
Net increase to rental income related to above and below market lease amortization297 124 
Total rental income$187,402 $173,268 
Lessor, Operating Lease, Payments to be Received, Maturity
The following table summarizes the maturity of fixed lease payments under the Company’s leases as of March 31, 2024.

YearMaturity of Fixed Lease Payments (in thousands)
Remainder of 2024$427,444 
2025$535,712 
2026$457,187 
2027$370,622 
2028$304,030 
Thereafter$736,396 
Lease, Cost [Table Text Block]
The following table summarizes supplemental information related to operating lease right-of-use assets and operating lease liabilities recognized in the Company’s Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023.

Operating Lease Term and Discount RateMarch 31, 2024December 31, 2023
Weighted average remaining lease term (years)31.731.6
Weighted average discount rate6.8 %6.8 %
The following table summarizes the operating lease cost included in the Company’s Consolidated Statements of Operations for the three months ended March 31, 2024 and 2023.

 Three months ended March 31,
Operating Lease Cost (in thousands)20242023
Operating lease cost included in property expense attributable to ground leases$616 $618 
Operating lease cost included in general and administrative expense attributable to corporate office leases430 437 
Total operating lease cost$1,046 $1,055 

The following table summarizes supplemental cash flow information related to operating leases in the Company’s Consolidated Statements of Cash Flows for the three months ended March 31, 2024 and 2023.

 Three months ended March 31,
Operating Leases (in thousands)20242023
Cash paid for amounts included in the measurement of lease liabilities (operating cash flows)$989 $970 
Lessee, Operating Lease, Liability, Maturity [Table Text Block]
The following table summarizes the maturity of operating lease liabilities under the Company’s ground leases and corporate office leases as of March 31, 2024.

Year
Maturity of Operating Lease Liabilities(1) (in thousands)
Remainder of 2024$2,986 
20254,022 
20263,014 
20272,023 
20282,064 
Thereafter79,898 
Total lease payments94,007 
Less: Imputed interest(60,874)
Present value of operating lease liabilities$33,133 
(1)Operating lease liabilities do not include estimates of CPI rent changes required by certain ground lease agreements. Therefore, actual payments may differ from those presented.