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Leases (Tables) | 3 Months Ended
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Mar. 31, 2025
Leases [Abstract] |
Schedule of Future Minimum Operating Lease Payments Receivable | Future lease payments under the non-cancelable operating leases, excluding any reimbursements and one sales-type lease, as of March 31, 2025, were as follows:
Dollars in thousands | OPERATING |
2025 | $ | 616,105 |  |
2026 | 765,801 |  |
2027 | 652,094 |  |
2028 | 539,161 |  |
2029 | 433,875 |  |
2030 and thereafter | 1,592,445 |  |
| $ | 4,599,481 |  |
Schedule of Future Minimum Operating Lease Payments | The Company’s future lease payments (primarily for its 142 non-prepaid ground leases) as of March 31, 2025, were as follows:
Dollars in thousands | OPERATING | FINANCING
2025 | $ | 8,886 |  | $ | 1,440 |
2026 | 12,540 |  | 2,106 |
2027 | 12,743 |  | 2,145 |
2028 | 12,879 |  | 2,177 |
2029 | 12,944 |  | 2,209 |
2030 and thereafter | 657,744 |  | 383,172 |
Total undiscounted lease payments | 717,736 |  | 393,249 |
Discount | (493,619) |  | (320,664) |
Lease liabilities | $ | 224,117 |  | $ | 72,585 |
Schedule of Future Minimum Financing Lease Payments | The Company’s future lease payments (primarily for its 142 non-prepaid ground leases) as of March 31, 2025, were as follows:
Dollars in thousands | OPERATING | FINANCING
2025 | $ | 8,886 |  | $ | 1,440 |
2026 | 12,540 |  | 2,106 |
2027 | 12,743 |  | 2,145 |
2028 | 12,879 |  | 2,177 |
2029 | 12,944 |  | 2,209 |
2030 and thereafter | 657,744 |  | 383,172 |
Total undiscounted lease payments | 717,736 |  | 393,249 |
Discount | (493,619) |  | (320,664) |
Lease liabilities | $ | 224,117 |  | $ | 72,585 |
Schedule of Lease Cost | The following table provides details of the Company's total lease expense for the three months ended March 31, 2025 and 2024:
| THREE MONTHS ENDED March 31, |
Dollars in thousands | 2025 | 2024 |  |
Operating lease cost |  |  |  |
Operating lease expense | $ | 4,358 |  | $ | 4,465 |  |  |
Variable lease expense | 1,328 |  | 1,228 |  |  |
Finance lease cost |  |  |  |
Amortization of right-of-use assets | 370 |  | 387 |  |  |
Interest on lease liabilities | 916 |  | 937 |  |  |
Total lease expense | $ | 6,972 |  | $ | 7,017 |  |  |
Other information |  |  |  |
Operating cash flows outflows related to operating leases | $ | 4,492 |  | $ | 4,040 |  |  |
Operating cash flows outflows related to financing leases | $ | 543 |  | $ | 563 |  |  |
Financing cash flows outflows related to financing leases | $ | 134 |  | $ | 110 |  |  |
Weighted-average years remaining lease term (excluding renewal options) - operating leases | 44.0 | 45.8 |  |
Weighted-average years remaining lease term (excluding renewal options) - finance leases | 57.5 | 57.7 |  |
Weighted-average discount rate - operating leases | 5.7 | % | 5.7 | % |  |
Weighted-average discount rate - finance leases | 5.0 | % | 5.0 | % |  |

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- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance 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 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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