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v3.26.1

Segment Information (Tables) | 6 Months Ended
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Jun. 30, 2026
Segment Reporting [Abstract] |
Schedule of Financial Information | Below is a summary of financial information for the three and six months ended June 30, 2026 and 2025.
|  |  | For the Three Months Ended June 30, |  | For the Six Months Ended June 30,
(Amounts in thousands) |  | 2026 |  | 2025 |  | 2026 |  | 2025
| Rental revenues |  | $ | 54,711 |  |  | $ | 51,589 |  |  | $ | 108,123 |  |  | $ | 106,504 |
| Real estate tax expense |  | (15,568) |  |  | (14,758) |  |  | (31,673) |  |  | (29,684) |
| Other segment expenses (1) |  | (11,175) |  |  | (11,176) |  |  | (24,050) |  |  | (21,814) |
| Total operating expenses |  | (26,743) |  |  | (25,934) |  |  | (55,723) |  |  | (51,498) |
| NOI |  | $ | 27,968 |  |  | $ | 25,655 |  |  | $ | 52,400 |  |  | $ | 55,006 |
(1) | Includes various expenses associated with operating our properties including but not limited to ground rent, insurance, repairs and maintenance and utilities.
Below is a reconciliation of NOI to net income for the three and six months ended June 30, 2026 and 2025.
|  | For the Three Months Ended June 30, |  | For the Six Months Ended June 30,
(Amounts in thousands) | 2026 |  | 2025 |  | 2026 |  | 2025
| NOI | $ | 27,968 |  |  | $ | 25,655 |  |  | $ | 52,400 |  |  | $ | 55,006 |
| Interest and debt expense | (10,796) |  |  | (12,801) |  |  | (21,525) |  |  | (23,595) |
| Interest and other income | 1,684 |  |  | 3,928 |  |  | 3,130 |  |  | 7,873 |
| General and administrative | (3,266) |  |  | (1,955) |  |  | (4,979) |  |  | (3,546) |
| Depreciation and amortization | (8,230) |  |  | (8,707) |  |  | (17,004) |  |  | (17,306) |
| Net gain on sale of real estate | 148,002 |  |  | — |  |  | 148,002 |  |  | — |
| Net income | $ | 155,362 |  |  | $ | 6,120 |  |  | $ | 160,024 |  |  | $ | 18,432 |

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