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Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income      
Lease income, net $ 272,440 $ 257,146 $ 232,980
Total income 273,974 258,676 236,707
Operating expenses      
Depreciation and amortization 113,948 113,430 94,952
Property operating 43,413 42,832 40,239
Real estate taxes 36,441 34,809 32,925
General and administrative 33,172 31,797 33,342
Total operating expenses 226,974 222,868 201,458
Other (expense) income      
Interest expense, net (37,100) (38,138) (26,777)
Loss on extinguishment of debt 0 (15) (181)
Impairment of real estate assets (3,854) 0 0
Gain on sale of investment properties, net 3,857 2,691 38,249
Equity in (losses) earnings of unconsolidated entities 0 (557) 3,663
Other income and expense, net 3,755 5,480 2,030
Total other (expense) income, net (33,342) (30,539) 16,984
Net income $ 13,658 $ 5,269 $ 52,233
Weighted-average common shares outstanding, basic (in shares) 70,394,448 67,531,898 67,406,233
Weighted-average common shares outstanding, diluted (in shares) 71,010,568 67,813,180 67,525,935
Net income per common share - basic (in dollars per share) $ 0.19 $ 0.08 $ 0.77
Net income per common share - diluted (in dollars per share) $ 0.19 $ 0.08 $ 0.77
Comprehensive income      
Net income $ 13,658 $ 5,269 $ 52,233
  Unrealized gain on derivatives 9,019 6,228 32,052
Reclassification to net income (12,667) (14,875) (1,009)
Comprehensive income (loss) 10,010 (3,378) 83,276
Other property income      
Income      
Other income 1,534 1,450 1,161
Other fee income      
Income      
Other income $ 0 $ 80 $ 2,566