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Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2024

Accounting Policies [Abstract]

Schedule of Intangible Assets and Balance Sheet Classifications

The Company’s intangibles and their balance sheet classifications as of December 31, 2024 and 2023, respectively, are summarized as follows:

		December 31, 2024								December 31, 2023
		Cost				Accumulated Amortization				Cost				Accumulated Amortization
In-place leases		$	418,458			$	(231,897	)		$	372,596			$	(214,957	)
Intangible lease assets and other assets:
Above-market leases			260,512				(138,474	)			232,638				(113,965	)
Tenant relationships			2,578				(115	)			2,578				(63	)
Accounts payable and accrued liabilities:
Below-market leases			166,909				(69,303	)			145,406				(64,998	)

Schedule of Income Tax Provision

The Company recorded an income tax (provision) benefit as follows:

		Year Ended December 31,
		2024				2023				2022
Current tax provision		$	(2,705	)		$	(2,177	)		$	(1,951	)
Deferred tax benefit (provision)			1,650				1,283				(1,128	)
Income tax (provision) benefit		$	(1,055	)		$	(894	)		$	(3,079	)

Summary of Basic and Diluted EPS

The following table presents the calculation of basic and diluted EPS (in thousands, except per share amounts):

		Year Ended December 31,
		2024				2023				2022
Basic earnings per share
Net income (loss) attributable to the Company		$	58,970			$	6,546			$	(93,482	)
Less: Dividends allocable to unvested restricted stock			(1,206	)			(1,113	)			(2,537	)
Net income (loss) attributable to common shareholders		$	57,764			$	5,433			$	(96,019	)
Weighted-average basic shares outstanding			30,905				31,303				30,046
Net income (loss) per share attributable to common shareholders		$	1.87			$	0.17			$	(3.20	)
Diluted earnings per share (1)
Net income (loss) attributable to common shareholders		$	57,764			$	5,433			$	(96,019	)
Weighted-average basic shares outstanding			30,962				31,303				30,046
Net income (loss) per share attributable to common shareholders		$	1.87			$	0.17			$	(3.20	)

(1)For the year ended December 31, 2024, the computation of diluted EPS includes contingently issuable shares related to PSUs calculated under the treasury stock method. For the year ended December 31, 2024, the computation of diluted EPS does not include contingently issuable shares related to unvested restricted stock awards due to their anti-dilutive nature. For the year ended December 31, 2024, had the contingently issuable shares been dilutive, the denominator for diluted EPS would have been 31,092,693, including 130,527 contingently issuable shares related to unvested restricted stock awards. For the year ended December 31, 2023, the computation of diluted EPS does not include contingently issuable shares due to their anti-dilutive nature. Had the contingently issuable shares been dilutive, the denominator for diluted EPS would have been 31,330,597, including 27,434 contingently issuable shares related to unvested restricted stock awards. Due to a net loss for the year ended December 31, 2022, the computation of diluted EPS does not include contingently issuable shares due to their anti-dilutive nature. Had the Company reported net income for the year ended December 31, 2022, the denominator for diluted EPS would have been 30,206,521, including 160,098 contingently issuable shares related to PSUs and unvested restricted stock awards.

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

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