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Business and Property Management Agreements with RMR (Tables)
12 Months Ended
Dec. 31, 2025
Real Estate [Abstract]  
Schedule of Business Management Fees, Property Management Fees and Construction Supervision Fees Recognized in Condensed Financial Statements
For the years ended December 31, 2025, 2024, and 2023, the business management fees, property management fees and construction supervision fees recognized in our consolidated financial statements were as follows:
Financial StatementYear Ended December 31,
Line Item202520242023
Pursuant to business management agreement:
Net business management fees (1)
General and administrative$28,122 $29,653 $33,352 
Pursuant to property management agreement:
Property management feesNet lease operating expenses$8,517 $6,012 $3,702 
Construction supervision fees
Buildings, improvements and equipment (2)
2,407 5,958 4,666 
$10,924 $11,970 $8,368 
Expense reimbursement
Net lease operating expenses, general and administrative and buildings, improvements and equipment (2)
$4,672 $4,445 $4,648 
(1)The net business management fees we recognized for each of the years ended December 31, 2025, 2024 and 2023, reflect a reduction of $3,585 for the amortization of the liability we recorded in connection with our former investment in The RMR Group Inc., or RMR Inc.
(2)Amounts capitalized as buildings, improvements and equipment are depreciated over the estimated useful lives of the related assets.