XML 39 R29.htm IDEA: XBRL DOCUMENT
v3.25.3

Business Segments (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2025
Segment Reporting [Abstract] |
Schedule of NOI and Total Assets of Reportable Segments | The following tables summarize NOI and total assets for each of our reportable segments:
| Shopping |  | Mixed-Use |  |
(In thousands) | Centers |  | Properties |  | Total
As of or for the three months ended September 30, 2025 |  |  |  |  |
Revenue: |  |  |  |  |
Total property revenue | $ | 46,204 |  |  | $ | 23,750 |  |  | $ | 69,954 |
Revenue adjustments (1) |  |  |  |  | 2,050 |
Total revenue |  |  |  |  | $ | 72,004 |
Expenses: |  |  |  |  |
Real estate taxes | (5,023) |  |  | (3,131) |  |  |
Repairs and maintenance | (2,690) |  |  | (2,135) |  |  |
Other expenses (2) | (2,732) |  |  | (4,467) |  |  |
Property net operating income | $ | 35,759 |  |  | $ | 14,017 |  |  | $ | 49,776 |
Non-segment items: |  |  |  |  |
Interest expense, net and amortization of deferred debt costs |  |  |  |  | (17,066) |
Depreciation and amortization of deferred leasing costs |  |  |  |  | (14,106) |
General and administrative |  |  |  |  | (6,658) |
Revenue adjustments (1) |  |  |  |  | 2,050 |
Net income |  |  |  |  | $ | 13,996 |
Capital investment | $ | 11,349 |  |  | $ | 8,192 |  |  | $ | 19,541 |
Total assets per segment | $ | 905,978 |  |  | $ | 1,246,164 |  |  | $ | 2,152,142 |
Other assets (3) |  |  |  |  | 15,439 |
Total assets |  |  |  |  | $ | 2,167,581 |
As of or for the three months ended September 30, 2024 |  |  |  |  |
Revenue: |  |  |  |  |
Total property revenue | $ | 46,250 |  |  | $ | 20,460 |  |  | $ | 66,710 |
Revenue adjustments (1) |  |  |  |  | 578 |
Total revenue |  |  |  |  | $ | 67,288 |
Expenses: |  |  |  |  |
Real estate taxes | (4,920) |  |  | (2,700) |  |  |
Repairs and maintenance | (2,790) |  |  | (1,858) |  |  |
Other expenses (2) | (2,391) |  |  | (3,072) |  |  |
Property net operating income | $ | 36,149 |  |  | $ | 12,830 |  |  | $ | 48,979 |
Non-segment items: |  |  |  |  |
Interest expense, net and amortization of deferred debt costs |  |  |  |  | (12,213) |
Depreciation and amortization of deferred leasing costs |  |  |  |  | (12,072) |
General and administrative |  |  |  |  | (5,680) |
Revenue adjustments (1) |  |  |  |  | 578 |
Net income |  |  |  |  | $ | 19,592 |
Capital investment | $ | 4,614 |  |  | $ | 50,203 |  |  | $ | 54,817 |
Total assets per segment | $ | 907,116 |  |  | $ | 1,194,544 |  |  | $ | 2,101,660 |
Other assets (3) |  |  |  |  | 11,364 |
Total assets |  |  |  |  | $ | 2,113,024 |
(1) Revenue adjustments are straight-line base rent and above/below market lease amortization. (2) Other expenses include payroll, utilities, insurance, legal, parking, advertising, and other. (3) Other assets include cash on hand, swap assets, and an operating lease right of use asset.
| Shopping |  | Mixed-Use |  |
(In thousands) | Centers |  | Properties |  | Total
As of or for the nine months ended September 30, 2025 |  |  |  |  |
Revenue: |  |  |  |  |
Total property revenue | $ | 139,780 |  |  | $ | 67,769 |  |  | $ | 207,549 |
Revenue adjustments (1) |  |  |  |  | 7,145 |
Total revenue |  |  |  |  | $ | 214,694 |
Expenses: |  |  |  |  |
Real estate taxes | (14,611) |  |  | (9,543) |  |  |
Repairs and maintenance | (10,834) |  |  | (5,808) |  |  |
Other expenses (2) | (8,007) |  |  | (12,541) |  |  |
Property net operating income | $ | 106,328 |  |  | $ | 39,877 |  |  | $ | 146,205 |
Non-segment items: |  |  |  |  |
Interest expense, net and amortization of deferred debt costs |  |  |  |  | (50,633) |
Depreciation and amortization of deferred leasing costs |  |  |  |  | (42,727) |
General and administrative |  |  |  |  | (19,085) |
Revenue adjustments (1) |  |  |  |  | 7,145 |
Gain on disposition of property |  |  |  |  | 120 |
Net income |  |  |  |  | $ | 41,025 |
Capital investment | $ | 21,475 |  |  | $ | 52,634 |  |  | $ | 74,109 |
Total assets per segment | $ | 905,978 |  |  | $ | 1,246,164 |  |  | $ | 2,152,142 |
Other assets (3) |  |  |  |  | 15,439 |
Total assets |  |  |  |  | $ | 2,167,581 |
As of or for the nine months ended September 30, 2024 |  |  |  |  |
Revenue: |  |  |  |  |
Total property revenue | $ | 140,377 |  |  | $ | 60,247 |  |  | $ | 200,624 |
Revenue adjustments (1) |  |  |  |  | 299 |
Total revenue |  |  |  |  | $ | 200,923 |
Expenses: |  |  |  |  |
Real estate taxes | (14,752) |  |  | (8,100) |  |  |
Repairs and maintenance | (8,612) |  |  | (5,015) |  |  |
Other expenses (2) | (7,653) |  |  | (9,032) |  |  |
Property net operating income | $ | 109,360 |  |  | $ | 38,100 |  |  | $ | 147,460 |
Non-segment items: |  |  |  |  |
Interest expense, net and amortization of deferred debt costs |  |  |  |  | (36,928) |
Depreciation and amortization of deferred leasing costs |  |  |  |  | (36,102) |
General and administrative |  |  |  |  | (17,565) |
Revenue adjustments (1) |  |  |  |  | 299 |
Gain on disposition of property |  |  |  |  | 181 |
Net income |  |  |  |  | $ | 57,345 |
Capital investment | $ | 13,403 |  |  | $ | 131,608 |  |  | $ | 145,011 |
Total assets per segment | $ | 907,116 |  |  | $ | 1,194,544 |  |  | $ | 2,101,660 |
Other assets (3) |  |  |  |  | 11,364 |
Total assets |  |  |  |  | $ | 2,113,024 |
(1) Revenue adjustments are straight-line base rent and above/below market lease amortization. (2) Other expenses include payroll, utilities, insurance, legal, parking, advertising, and other. (3) Other assets include cash on hand, swap assets, and an operating lease right of use asset.

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