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Leases (Tables)

3 Months Ended

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		%

X

- 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

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X

- 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

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- References

No definition available.

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X

- 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

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X

- 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

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