Related Parties

12 Months Ended

Dec. 31, 2024

Related Party Transactions [Abstract]

Related Parties

17. Related Parties

We have reimbursement arrangements with entities controlled by our former Chairman, who was appointed Chief Executive Officer effective January 1, 2024, and Vice Chairman, which provide for reimbursement of costs paid on our behalf, or those we pay on their behalf. For the years ended December 31, 2024, 2023 and 2022, we were responsible for reimbursing costs of $0.9 million, $0.8 million and $0.4 million, respectively, and received reimbursement for costs of $0.1 million, less than $0.1 million, and less than $0.1 million, respectively.

We provide asset management services to properties owned by the JV. For the years ended December 31, 2024, 2023 and 2022 we recognized Asset management fees of $2.3 million, $2.1 million and $1.4 million, respectively, and reimbursement for certain costs that we paid on their behalf of $0.5 million, $0.3 million and $0.1 million, respectively.

As of December 31, 2024, and 2023, Accounts receivable from related parties was $0.3 million and $0.2 million, respectively. As of December 31, 2024, and 2023, Accounts payable, accrued expenses and other liabilities included $0.1 million and $0.4 million, respectively, owed to related parties.