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Related Party Transactions
 9 Months Ended
Sep. 30, 2025
Related Party Transactions [Abstract]  
Related Party Transactions Related Party Transactions
Summarized below are the related party transaction expenses and payable for the following periods (which are presented in “Accrued expenses and other liabilities” on the Consolidated Balance Sheet):
Incurred for the Nine Months EndedPayable as of
September 30,September 30,December 31,
2025202420252024
Expensed
Office rent and related expenses$426 $476 $— $55 
Other
Distributions1,306 1,720 234 525 
Total$1,732 $2,196 $234 $580 
Office Sublease
The Operating Partnership is party to a sublease agreement dated March 25, 2022 with GCC (as amended, the “El Segundo Sublease”) for the building located at 1520 E. Grand Ave, El Segundo, CA (the “Building”) which is the location of the Company’s corporate headquarters and where the Company conducts day-to-day business. The Building is part of a campus that contains other buildings and parking (the “Campus”). The El Segundo Sublease also entitles the Company to use certain common areas on the Campus. The Campus is owned by GCPI, LLC (“GCPI”), and the Building is master leased by GCPI to GCC. GCC is the sublessor under the El Segundo Sublease. GCC is controlled by, and GCPI is affiliated with the Company’s former Executive Chairman, who beneficially owns more than 5% of our common shares.
As of September 30, 2025, the right-of-use lease asset and liability related to the El Segundo Sublease was approximately $0.4 million, which is included in Right-of-use lease assets and Right-of-use lease liabilities on the Company’s consolidated balance sheet.
As of September 30, 2025, the El Segundo sublease has an expiration date of June 30, 2026 and a monthly base rent of $0.04 million, subject to annual escalations of 3%. As of September 30, 2025, the Company entered into a 10-year lease for its future corporate headquarters in El Segundo, CA. The new lease is a third-party, non-related party agreement and is not with GCC or any of its affiliates, and is expected to commence in 2026, at which time right-of-use assets and lease liabilities will be recognized.