XML 68 R34.htm IDEA: XBRL DOCUMENT v3.25.1

Leases (Tables)

3 Months Ended

Mar. 31, 2025

Leases [Abstract]

Schedule of Lease Income

The components of rental revenue from the Company’s operating leases during the periods indicated below were as follows (in thousands):

						Three Months Ended March 31,
						2025						2024
Fixed:
Cash rental revenue						$	23,642					$	31,678
Straight-line rental revenue						3,631						549
Lease intangible amortization						250						414
Fixed property operating cost reimbursements						1,509						1,446
Other fixed rental revenue						703						1,038
Total fixed						29,735						35,125
Variable:
Variable property operating cost reimbursements						7,460						11,196
Other variable rental revenue						602						674
Total variable						8,062						11,870
Total rental revenue						$	37,797					$	46,995

Schedule of Operating Lease Payments to be Received

The following table presents future minimum base rent payments due to the Company under the terms of its operating lease agreements, excluding expense reimbursements, over the next five years and thereafter as of March 31, 2025 (in thousands).

						Future Minimum Base Rent Payments
April 1, 2025 - December 31, 2025						$	65,187
2026						83,276
2027						69,676
2028						60,787
2029						44,090
2030						42,042
Thereafter						203,574
Total						$	568,632

Schedule of Operating Lease Liability, Maturity

The following table reflects the maturity analysis of payments due from the Company over the next five years and thereafter for ground and corporate office lease obligations as of March 31, 2025 (in thousands).

						Future Minimum Lease Payments
April 1, 2025 - December 31, 2025						$	888
2026						778
2027						752
2028						761
2029						473
2030						447
Thereafter						11,597
Total						15,696
Less: imputed interest						5,450
Total						$	10,246

X

- References

No definition available.

+ Details

Name:	us-gaap_LeasesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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

+ Details

Name:	us-gaap_LesseeOperatingLeaseLiabilityMaturityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of maturity of undiscounted cash flows to be received by lessor on annual basis for operating lease.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 842
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479773/842-30-50-12

+ Details

Name:	us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of components of income from operating lease.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479773/842-30-50-5

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-6A

+ Details

Name:	us-gaap_OperatingLeaseLeaseIncomeTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration