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Segment Information (Tables)

9 Months Ended

Sep. 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 September 30												Nine months ended September 30
			2025						2024						2025						2024
Net income (loss)			$	6,026					$	(539)					$	108,760					$	3,859
Adjustments to reconcile to NOI:
Other income and expense, net			(1,628)						(197)						(3,177)						(1,510)
Interest expense, net			8,969						9,470						25,637						28,744
Gain on sale of investment properties			(52)						(334)						(90,961)						(334)
Impairment of real estate assets			—						3,854						—						3,854
Depreciation and amortization			32,734						28,134						94,086						85,092
General and administrative			8,316						8,133						25,569						24,768
Adjustments to NOI (a)			(2,453)						(1,626)						(6,233)						(6,056)
NOI			$	51,912					$	46,895					$	153,681					$	138,417

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

Schedule of Disaggregation of Property Operating Expenses

The following table presents the disaggregation of property operating expenses:

			Three months ended September 30												Nine months ended September 30
			2025						2024						2025						2024
Repairs and maintenance			$	3,719					$	3,576					$	10,927					$	9,550
Payroll, benefits, and office			2,532						2,578						7,897						7,825
Utilities and waste removal			2,703						2,469						7,692						6,847
Property insurance			1,266						1,286						4,182						4,413
Security, legal, and other expenses			834						886						2,579						2,402
Property operating expenses			$	11,054					$	10,795					$	33,277					$	31,037

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

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-Topic 280
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-Section 50
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-Publisher FASB
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- 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
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

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