XML 44 R32.htm IDEA: XBRL DOCUMENT v3.25.2

Segment Information (Tables)

6 Months Ended

Jun. 30, 2025

Segment Reporting [Abstract]

Schedule of Reconciliation of Net Income

The following table reconciles net income, the most directly comparable GAAP measure, to NOI:

			Three months ended June 30												Six months ended June 30
			2025						2024						2025						2024
Net income			$	95,942					$	1,498					$	102,734					$	4,398
Adjustments to reconcile to NOI:
Other income and expense, net			(942)						(455)						(1,549)						(1,313)
Interest expense, net			8,346						9,640						16,668						19,274
Gain on sale of investment properties			(90,909)						—						(90,909)						—
Depreciation and amortization			30,738						28,790						61,352						56,958
General and administrative			8,706						8,661						17,253						16,635
Adjustments to NOI (a)			(1,981)						(2,387)						(3,780)						(4,430)
NOI			$	49,900					$	45,747					$	101,769					$	91,522

(a)Adjustments to NOI include lease termination income and expense and GAAP Rent Adjustments.

Schedule of Disaggregation of Property Operating Expenses

The following table reflects the disaggregation of property operating expenses:

			Three months ended June 30												Six months ended June 30
			2025						2024						2025						2024
Repairs and maintenance			$	3,833					$	3,040					$	7,208					$	5,974
Payroll, benefits, and office			2,610						2,572						5,365						5,247
Utilities and waste removal			2,527						2,250						4,989						4,378
Property insurance			1,586						1,585						2,916						3,127
Security, legal, and other expenses			920						796						1,745						1,516
Property operating expenses			$	11,476					$	10,243					$	22,223					$	20,242

X

- Definition

Tabular disclosure of all significant reconciling items in the reconciliation of total revenues from reportable segments to the entity's consolidated revenues.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

+ Details

Name:	us-gaap_ReconciliationOfRevenueFromSegmentsToConsolidatedTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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

+ Details

Name:	us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_SegmentReportingAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration