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Commitments and Contingencies (Tables)

3 Months Ended

Mar. 31, 2026

Commitments and Contingencies Disclosure [Abstract]

Summary of Lease Expense

The following table presents ground lease expense, included in property operating expense, for the three months ended March 31, 2026 and 2025 (dollars in thousands):

						Three Months Ended March 31,
						2026						2025
Operating lease expense:
Minimum lease expense						$	790					$	794
Variable lease expense						—						—
						$	790					$	794

For the three months ended March 31, 2026 and 2025, the following table summarizes lease expense, included in operating expense (dollars in thousands):

						Three Months Ended March 31,
						2026						2025
Corporate Offices
Operating lease expense:
Fixed lease expense						$	328					$	324
Variable lease expense						—						—
						$	328					$	324

Schedule of Future Minimum Rental Payments

The following table presents future minimum rental payments, excluding contingent rents, on noncancellable ground leases on real estate as of March 31, 2026 (dollars in thousands):

Remainder of 2026						$	2,390
2027						2,868
2028						2,839
2029						1,896
2030						1,833
2031 and thereafter						10,430
Total lease payments						22,256
Less: Present value discount						6,344
Operating lease liability (Note 6)						$	15,912

As of March 31, 2026, the Company’s future operating lease commitments for the corporate office leases were as follows (dollars in thousands):

						Corporate Offices
Remainder of 2026						$	995
2027						1,339
2028						1,155
2029						573
2030						—
2031 and thereafter						—
Total lease payments						4,062
Less: Present value discount						151
Operating lease liability (Note 6)						$	3,911

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- References

No definition available.

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- Definition

Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478964/842-20-50-4

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- Definition

Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478964/842-20-50-6

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