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Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2024
Accounting Policies [Abstract] |
Schedule of Disaggregated Revenue by Source | The table below presents our revenues disaggregated by revenue source.
| For the year ended December 31,
| 2024 |  | 2023 |  | 2022
Rental revenue (1) | $ | 609,990 |  |  | $ | 630,260 |  |  | $ | 601,201 |
Other property revenue (2) | 28,923 |  |  | 29,581 |  |  | 26,213 |
Other revenue | 1,122 |  |  | 1,142 |  |  | 1,111 |
Total revenue | $ | 640,035 |  |  | $ | 660,983 |  |  | $ | 628,525 |
| (1) | Amounts include all revenue streams derived from lease and non-lease components accounted for under ASC 842.
| (2) | Amounts include revenue related to activities that are not considered components of a lease, including application fees and administrative fees, as well as revenue not related to leasing activities, including vendor revenue sharing. All amounts are accounted for under FASB ASC Topic 606 “Revenue from Contracts with Customers” (“ASC 606”).
Schedule of Carrying Amount and Fair Value of Financial Instrument | The following table summarizes the carrying amount and the fair value of our financial instruments as of the periods indicated:
|  | As of December 31, 2024 |  | As of December 31, 2023 |  |
Financial Instrument |  | Carrying Amount |  | Estimated Fair Value |  | Carrying Amount |  | Estimated Fair Value |  |
Assets |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 21,228 |  |  | $ | 21,228 |  |  | $ | 22,852 |  |  | $ | 22,852 |  |  |
Restricted cash |  | 22,224 |  |  | 22,224 |  |  | 27,880 |  |  | 27,880 |  |  |
Derivative assets |  | 29,300 |  |  | 29,300 |  |  | 29,937 |  |  | 29,937 |  |  |
Liabilities |  |  |  |  |  |  |  |  |  |
Debt: |  |  |  |  |  |  |  |  |  |
Unsecured revolver |  | 193,952 |  |  | 194,249 |  |  | 233,362 |  |  | 235,607 |  |  |
Unsecured term loans |  | 598,169 |  |  | 599,375 |  |  | 597,544 |  |  | 602,589 |  |  |
Secured credit facilities |  | 600,768 |  |  | 554,238 |  |  | 606,099 |  |  | 554,198 |  |  |
Mortgages |  | 792,306 |  |  | 733,050 |  |  | 1,112,404 |  |  | 1,029,028 |  |  |
Unsecured notes |  | 148,488 |  |  | 150,343 |  |  | — |  |  | — |  |  |

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- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-5 + Details
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