Segment Information (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

Below is a summary of financial information for the years ended December 31, 2024, 2023 and 2022.

		Year Ended December 31,
(Amounts in thousands)		2024		2023		2022
	Rental revenues	$	226,374	$	224,962	$	205,814
	Real estate tax expense	(59,256)		(57,722)		(49,885)
	Other segment expenses (1)	(43,984)		(43,488)		(40,561)
	Total operating expenses	(103,240)		(101,210)		(90,446)
	NOI	$	123,134	$	123,752	$	115,368
(1)	Includes various expenses associated with operating our properties including but not limited to ground rent, insurance, repairs and maintenance and utilities.

Below is a reconciliation of NOI to net income for the years ended December 31, 2024, 2023 and 2022.

		Year Ended December 31,
(Amounts in thousands)		2024		2023		2022
	NOI	$	123,134	$	123,752	$	115,368
	Net gain on sale of real estate	—		53,952		—
	Interest and debt expense	(62,818)		(58,297)		(28,602)
	Interest and other income	24,429		22,245		6,769
	General and administrative	(6,519)		(6,341)		(6,106)
	Depreciation and amortization	(34,782)		(32,898)		(29,797)
	Net income	$	43,444	$	102,413	$	57,632