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Leases (Tables) | 12 Months Ended
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Dec. 31, 2024
Leases [Abstract] |
Schedule of Lease Revenue Recognized Between Fixed and Variable Lease Revenue | The table below sets forth our composition of lease revenue recognized between fixed- and variable-lease revenue (in thousands):
|  |  |  | For the Years Ended December 31,
Lease revenue |  |  |  | 2024 |  | 2023 |  | 2022 (1)
Fixed |  |  |  | $ | 513,461 |  |  | $ | 478,585 |  |  | $ | 453,907 |
Variable |  |  |  | 157,905 |  |  | 141,262 |  |  | 126,262 |
|  |  |  | $ | 671,366 |  |  | $ | 619,847 |  |  | $ | 580,169 |
(1)Excludes lease revenue from discontinued operations of which $1.5 million was fixed and $527,000 was variable.
Schedule of Operating Leases Fixed Contractual Payments Due | Fixed contractual payments due under our property leases were as follows (in thousands):
|  | As of December 31, 2024
Year Ending December 31, |  | Operating leases |  | Sales-type leases
2025 |  | $ | 498,617 |  |  | $ | 960 |
2026 |  | 446,927 |  |  | 960 |
2027 |  | 399,742 |  |  | 960 |
2028 |  | 329,686 |  |  | 960 |
2029 |  | 267,860 |  |  | 960 |
Thereafter |  | 1,073,432 |  |  | 675 |
Total contractual payments |  | $ | 3,016,264 |  |  | 5,475 |
Less: Amount representing interest |  |  |  | (988) |
Net investment in sales-type leases (1) |  |  |  | $ | 4,487 |
(1) Included in the line entitled “prepaid expenses and other assets, net” on our consolidated balance sheet.
Schedule of Sales-Type Leases Fixed Contractual Payments Due | Fixed contractual payments due under our property leases were as follows (in thousands):
|  | As of December 31, 2024
Year Ending December 31, |  | Operating leases |  | Sales-type leases
2025 |  | $ | 498,617 |  |  | $ | 960 |
2026 |  | 446,927 |  |  | 960 |
2027 |  | 399,742 |  |  | 960 |
2028 |  | 329,686 |  |  | 960 |
2029 |  | 267,860 |  |  | 960 |
Thereafter |  | 1,073,432 |  |  | 675 |
Total contractual payments |  | $ | 3,016,264 |  |  | 5,475 |
Less: Amount representing interest |  |  |  | (988) |
Net investment in sales-type leases (1) |  |  |  | $ | 4,487 |
(1) Included in the line entitled “prepaid expenses and other assets, net” on our consolidated balance sheet.
Schedule of Property Right-of-Use Assets and Lease Liabilities | The table below sets forth our property right-of-use assets and property lease liabilities on our consolidated balance sheets (in thousands):
|  |  |  | As of December 31,
Leases |  | Balance Sheet Location |  | 2024 |  | 2023
Right-of-use assets |  |  |  |  |  |
Operating leases - Property |  | Property - operating right-of-use assets |  | $ | 55,760 |  |  | $ | 41,296 |
Finance leases - Property |  | Prepaid expenses and other assets, net |  | 2,491 |  |  | 2,565 |
Total right-of-use assets |  |  |  | $ | 58,251 |  |  | $ | 43,861 |
Lease liabilities |  |  |  |  |  |
Operating leases - Property |  | Property - operating lease liabilities |  | $ | 49,240 |  |  | $ | 33,931 |
Finance leases - Property |  | Other liabilities |  | 391 |  |  | 415 |
Total lease liabilities |  |  |  | $ | 49,631 |  |  | $ | 34,346 |
Schedule of Property Lease Cost and Effect of Property Lease Payments on Consolidated Statements of Cash Flows | The table below presents our total property lease cost (in thousands):
|  | Statement of Operations Location |  |  |  | For the Years Ended December 31,
Lease cost |  |  |  |  | 2024 |  | 2023 |  | 2022
Operating lease cost |  |  |  |  |  |  |  |  |  |
Property leases - fixed |  | Property operating expenses |  |  |  | $ | 7,845 |  |  | $ | 6,955 |  |  | $ | 4,114 |
Property leases - variable |  | Property operating expenses |  |  |  | 246 |  |  | 66 |  |  | 65 |
Finance lease cost |  |  |  |  |  |  |  |  |  |
Amortization of property right-of-use assets |  | Property operating expenses |  |  |  | 74 |  |  | 76 |  |  | 31 |
Interest on lease liabilities |  | Interest expense |  |  |  | 37 |  |  | 42 |  |  | — |
|  |  |  |  |  | $ | 8,202 |  |  | $ | 7,139 |  |  | $ | 4,210 |
The table below presents the effect of property lease payments on our consolidated statements of cash flows (in thousands):
|  |  | For the Years Ended December 31,
Supplemental cash flow information |  |  | 2024 |  | 2023 |  | 2022
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |
Operating cash flows for operating leases |  |  | $ | 7,002 |  |  | $ | 6,056 |  |  | $ | 3,355 |
Operating cash flows for finance leases |  |  | $ | 37 |  |  | $ | 42 |  |  | $ | — |
Financing cash flows for finance leases |  |  | $ | 24 |  |  | $ | 20 |  |  | $ | — |
Schedule of Property Operating Lease, Liability, Maturity | Payments on property leases were due as follows (in thousands):
|  | December 31, 2024
Year Ending December 31, |  | Operating Leases |  | Finance Leases
2025 |  | $ | 7,910 |  |  | $ | 63 |
2026 |  | 8,192 |  |  | 65 |
2027 |  | 8,392 |  |  | 67 |
2028 |  | 2,812 |  |  | 69 |
2029 |  | 2,068 |  |  | 71 |
Thereafter |  | 152,110 |  |  | 226 |
Total lease payments |  | 181,484 |  |  | 561 |
Less: Amount representing interest |  | (132,244) |  |  | (170) |
Lease liability |  | $ | 49,240 |  |  | $ | 391 |
Schedule of Property Finance Lease, Liability, Maturity | Payments on property leases were due as follows (in thousands):
|  | December 31, 2024
Year Ending December 31, |  | Operating Leases |  | Finance Leases
2025 |  | $ | 7,910 |  |  | $ | 63 |
2026 |  | 8,192 |  |  | 65 |
2027 |  | 8,392 |  |  | 67 |
2028 |  | 2,812 |  |  | 69 |
2029 |  | 2,068 |  |  | 71 |
Thereafter |  | 152,110 |  |  | 226 |
Total lease payments |  | 181,484 |  |  | 561 |
Less: Amount representing interest |  | (132,244) |  |  | (170) |
Lease liability |  | $ | 49,240 |  |  | $ | 391 |

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