v3.25.4

SEGMENT REPORTING - Schedule of Segment Activity (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended
--- | --- | ---
Dec. 31, 2025 | Sep. 30, 2025 | Jun. 30, 2025 | Mar. 31, 2025 | Dec. 31, 2024 | Sep. 30, 2024 | Jun. 30, 2024 | Mar. 31, 2024 | Dec. 31, 2025 | Dec. 31, 2024 | Dec. 31, 2023
Segment Reporting Information [Line Items] |  |  |  |  |  |  |  |  |  |  |
Rental expenses |  |  |  |  |  |  |  |  | $ 124,601 | $ 123,503 | $ 118,801
Real estate taxes |  |  |  |  |  |  |  |  | 44,994 | 44,224 | 45,156
OPERATING INCOME | $ 23,215 | $ 24,767 | $ 25,978 | $ 71,972 | $ 30,048 | $ 37,808 | $ 30,794 | $ 30,549 | 145,932 | 129,199 | 121,747
Total segments’ profit |  |  |  |  |  |  |  |  | 266,609 | 290,128 | 277,207
Total Office |  |  |  |  |  |  |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |  |  |  |  |  |  |
Property revenue |  |  |  |  |  |  |  |  | 206,037 | 215,778 | 207,856
Rental expenses |  |  |  |  |  |  |  |  | 46,223 | 43,181 | 40,627
Real estate taxes |  |  |  |  |  |  |  |  | 20,675 | 19,053 | 20,712
Property expense |  |  |  |  |  |  |  |  | 66,898 | 62,234 | 61,339
OPERATING INCOME |  |  |  |  |  |  |  |  | 139,139 | 153,544 | 146,517
Total Retail |  |  |  |  |  |  |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |  |  |  |  |  |  |
Property revenue |  |  |  |  |  |  |  |  | 95,122 | 109,040 | 104,767
Rental expenses |  |  |  |  |  |  |  |  | 14,823 | 18,578 | 18,008
Real estate taxes |  |  |  |  |  |  |  |  | 11,961 | 13,930 | 13,432
Property expense |  |  |  |  |  |  |  |  | 26,784 | 32,508 | 31,440
OPERATING INCOME |  |  |  |  |  |  |  |  | 68,338 | 76,532 | 73,327
Total Multifamily |  |  |  |  |  |  |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |  |  |  |  |  |  |
Property revenue |  |  |  |  |  |  |  |  | 68,961 | 65,372 | 61,830
Rental expenses |  |  |  |  |  |  |  |  | 23,810 | 21,603 | 20,788
Real estate taxes |  |  |  |  |  |  |  |  | 8,141 | 7,186 | 7,237
Property expense |  |  |  |  |  |  |  |  | 31,951 | 28,789 | 28,025
OPERATING INCOME |  |  |  |  |  |  |  |  | 37,010 | 36,583 | 33,805
Total Mixed-Use |  |  |  |  |  |  |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |  |  |  |  |  |  |
Property revenue |  |  |  |  |  |  |  |  | 66,084 | 67,665 | 66,711
Rental expenses |  |  |  |  |  |  |  |  | 39,745 | 40,141 | 39,378
Real estate taxes |  |  |  |  |  |  |  |  | 4,217 | 4,055 | 3,775
Property expense |  |  |  |  |  |  |  |  | 43,962 | 44,196 | 43,153
OPERATING INCOME |  |  |  |  |  |  |  |  | $ 22,122 | $ 23,469 | $ 23,558

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