XML 53 R36.htm IDEA: XBRL DOCUMENT v3.25.3
Leases (Tables)
 9 Months Ended
Sep. 30, 2025
Leases [Abstract]  
Schedule of Future Minimum Base Rents to be Received The following table (i) sets forth undiscounted cash flows for future contractual base rents to be received under operating leases as of September 30, 2025 and (ii) excludes estimated reimbursements of Recoverable Operating Expenses:
As of September 30, 2025
Expirations
Continuing Operations
Discontinued Operations
Remaining 2025$18,662 $18,950 
202674,517 75,679 
202768,369 68,163 
202860,649 60,516 
202952,790 52,384 
Thereafter117,612 92,956 
Total$392,599 $368,648 
Schedule of Lease, Cost
The following table sets forth the weighted-average for the lease term and the discount rate for the office leases in which the Company is a lessee as of September 30, 2025:
As of September 30, 2025
Lease Term and Discount Rate
Operating - Office Leases
Weighted-average remaining lease term in years4.6
Weighted-average discount rate (1)
7.74%
(1)Because the rate implicit in each of the Company's leases was not readily determinable, the Company used an incremental borrowing rate. In determining the Company's incremental borrowing rate at the commencement of each lease, the Company considered rates on secured borrowings, observable risk-free interest rates and credit spreads correlating to the Company's creditworthiness, the impact of collateralization and the term of each of the Company's lease agreements.
Schedule of Operating Lease, Maturity
The maturities of lease liabilities for the Company’s operating and financing leases as of September 30, 2025 were as follows:
As of September 30, 2025
Continuing Operations - Corporate Office Leases
Discontinued Operations - Ground Leases
Operating Leases
Operating Leases
Financing Leases
2025$179 $376 $228 
2026476 1,503 375 
2027238 1,526 381 
2028243 1,596 386 
2029250 1,630 391 
Thereafter385 247,063 2,681 
Total undiscounted lease payments1,771 253,694 4,442 
Less imputed interest(285)(210,003)(1,817)
Total lease liabilities$1,486 $43,691 $2,625 
Schedule of Finance Lease, Maturity
The maturities of lease liabilities for the Company’s operating and financing leases as of September 30, 2025 were as follows:
As of September 30, 2025
Continuing Operations - Corporate Office Leases
Discontinued Operations - Ground Leases
Operating Leases
Operating Leases
Financing Leases
2025$179 $376 $228 
2026476 1,503 375 
2027238 1,526 381 
2028243 1,596 386 
2029250 1,630 391 
Thereafter385 247,063 2,681 
Total undiscounted lease payments1,771 253,694 4,442 
Less imputed interest(285)(210,003)(1,817)
Total lease liabilities$1,486 $43,691 $2,625