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Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2025

Fair Value Disclosures [Abstract]

Schedule of Recurring Measurements

The following table summarizes the financial instruments remeasured at fair value on a recurring basis:

						Fair Value Measurements as of
						September 30, 2025																		December 31, 2024
Cash Flow Hedges: (a) (b)						Level 1						Level 2 (c)						Level 3						Level 1						Level 2 (c)						Level 3
Derivative interest rate swaps						—						$	4,938					—						—						$	14,426					—

(a)During the twelve months subsequent to September 30, 2025, an estimated $5,945 of derivative interest rate balances recognized in accumulated comprehensive income will be reclassified into earnings.

(b)As of September 30, 2025 and December 31, 2024, the Company determined that the credit valuation adjustments associated with nonperformance risk are not significant to the overall valuation of its derivatives. As a result, the Company's derivative valuations in their entirety are classified as Level 2 of the fair value hierarchy.

(c)Derivative assets or liabilities are recognized as a part of deferred costs and other assets, net or other liabilities, respectively.

Schedule of Financial Instruments Not Measured at Fair Value

The following table summarizes the estimated fair value of financial instruments presented at carrying values in the Company's condensed consolidated financial statements as of September 30, 2025 and December 31, 2024:

			September 30, 2025																		December 31, 2024
			Carrying Value						Estimated  Fair Value						Market Interest Rate						Carrying Value						Estimated  Fair Value						Market Interest Rate
Mortgages payable			$	110,424					$	105,987					6.16		%				$	93,380					$	87,576					6.64		%
Senior notes			250,000						247,254						5.34		%				250,000						236,480						6.23		%
Term Loan			400,000						399,484						4.54		%				400,000						400,170						5.29		%
Revolving Credit Facility			—						—						N/A						—						—						N/A

X

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

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-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-SubTopic 10
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-URI https://asc.fasb.org/1943274/2147482881/825-10-55-10

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 825
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-Name Accounting Standards Codification
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-Topic 825
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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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