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Investments in Unconsolidated Real Estate Venture - Summary of Financial Information (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Balance sheet information:      
Total assets $ 3,223,071 $ 2,879,752  
Total liabilities (2) 1,835,954 1,470,236  
Total equity 1,321,118 1,322,201  
Total liabilities and equity 3,223,071 2,879,752  
Investment in unconsolidated real estate venture 316,521 284,544  
Income statement information:      
Revenues 302,052 287,227 $ 293,606
Net income 19,553 18,804 31,474
Real Estate Joint Venture [Member]      
Balance sheet information:      
Real estate, net (1) 501,938 449,956  
Other assets, net [1] 105,808 97,190  
Total assets 607,746 547,146  
Total liabilities (2) [2] 11,142 10,854  
Total equity 596,604 536,292  
Total liabilities and equity 607,746 547,146  
Investment in unconsolidated real estate venture 316,146 284,169  
Basis differential (3) [3] 375 375  
Carrying value of the Company's investment in the unconsolidated venture 316,521 284,544  
Income statement information:      
Revenues 45,517 40,693 25,898
Operating income 11,572 10,567 6,530
Net income 11,408 10,402 6,366
Company's share of net income $ 6,051 $ 5,498 $ 3,374
[1] At December 31, 2024 and 2023, this amount included right-of-use assets - finance leases totaling approximately $4.7 million and $4.8 million, respectively, representing a ground lease at VA – Lubbock.
[2] At both December 31, 2024 and 2023, this amount included lease liabilities - finance leases totaling approximately $5.0 million representing a ground lease at VA – Lubbock
[3] This amount represents the aggregate difference between our historical cost basis and the basis reflected at the joint venture level