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Consolidated Statements of Operations and Comprehensive (Loss) Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Income      
Lease income, net $ 257,146 $ 232,980 $ 207,350
Total income 258,676 236,707 211,979
Operating expenses      
Depreciation and amortization 113,430 94,952 87,143
Property operating 42,832 40,239 32,788
Real estate taxes 34,809 32,925 31,312
General and administrative 31,797 33,342 38,192
Direct listing costs 0 0 19,769
Total operating expenses 222,868 201,458 209,204
Other (expense) income      
Interest expense, net (38,138) (26,777) (16,261)
Loss on extinguishment of debt (15) (181) (400)
Gain on sale of investment properties, net 2,691 38,249 1,522
Equity in (losses) earnings of unconsolidated entities (557) 3,663 6,398
Other income and expense, net 5,480 2,030 606
Total other (expense) income, net (30,539) 16,984 (8,135)
Net income (loss) $ 5,269 $ 52,233 $ (5,360)
Weighted-average common shares outstanding, basic (in shares) 67,531,898 67,406,233 71,072,933
Weighted-average common shares outstanding, diluted (in shares) 67,813,180 67,525,935 71,072,933
Net income (loss) per common share - basic (in dollars per share) $ 0.08 $ 0.77 $ (0.08)
Net income (loss) per common share - diluted (in dollars per share) 0.08 0.77 (0.08)
Distributions declared per common share outstanding (in dollars per share) 0.86 0.82 0.78
Distributions paid per common share outstanding (in dollars per share) $ 0.85 $ 0.82 $ 0.78
Comprehensive (loss) income      
Net income $ 5,269 $ 52,233 $ (5,360)
  Unrealized gain on derivatives 6,228 32,052 3,795
Reclassification (to) from net income (loss) (14,875) (1,009) 4,332
Comprehensive (loss) income (3,378) 83,276 2,767
Other property income      
Income      
Other income 1,450 1,161 1,087
Other fee income      
Income      
Other income $ 80 $ 2,566 $ 3,542