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Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

						2024						2023						2022
Revenue:
Same-store rental and other property revenue						$	602,584					$	585,277					$	558,203
Non same-store rental and other property revenue						36,329						74,564						69,211
Total reportable segments revenue						$	638,913					$	659,841					$	627,414
Other income						1,122						1,142						1,111
Total consolidated revenue						$	640,035					$	660,983					$	628,525
Operating Expenses:
Same-store
Real estate taxes						69,863						72,518						72,406
Property insurance						15,698						14,618						11,683
Personnel expenses						49,504						45,592						45,347
Utilities						30,210						28,296						28,026
Repairs and maintenance						19,791						20,122						18,484
Contract services						21,846						21,584						18,998
Advertising expenses						7,578						6,342						4,852
Other property operating expenses (1)						6,510						6,625						6,891
Total same-store operating expenses						221,000						215,697						206,687
Non same-store
Total non same-store operating expenses						14,588						28,633						25,588
Total reportable segments operating expenses						235,588						244,330						232,275
Net Operating Income:
Same-store NOI						381,584						369,580						351,516
Non same-store NOI						21,741						45,931						43,623
Total reportable segments NOI						403,325						415,511						395,139
Adjustments:
Other revenue						1,122						1,142						1,111
Property management expenses						(29,923)						(27,081)						(24,033)
General and administrative expenses						(24,245)						(22,766)						(26,260)
Depreciation and amortization						(220,854)						(218,968)						(252,849)
Casualty (losses) gains, net						(3,935)						(925)						8,866
Interest expense						(76,141)						(89,921)						(86,955)
(Loss on impairment) gain on sale of real estate, net						(9,862)						(66,547)						111,756
Gain (loss) on extinguishment of debt						200						(124)						—
Other (loss) income						(1)						(427)						1,558
Income (loss) from investments in unconsolidated real estate entities						347						(4,488)						(2,169)
Merger and integration costs						—						—						(5,505)
Restructuring costs						—						(3,213)						—
Net income (loss)						$	40,033					$	(17,807)					$	120,659

(1)Other property operating expenses includes property office, administrative and legal costs.

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

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X

- References

No definition available.

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