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Lease Revenue
 9 Months Ended
Sep. 30, 2025
Leases [Abstract]  
Lease Revenue Lease Revenue
We lease our multifamily properties and commercial properties under agreements that are classified as operating leases. Our multifamily property leases generally include minimum rents and charges for ancillary services. Our commercial property leases generally include minimum rents and recoveries for property taxes and common area maintenance. Minimum rental revenues are recognized on a straight-line basis over the terms of the related leases.
The following table summarizes the components of our rental revenue for the three and nine months ended September 30, 2025 and 2024:
Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
Fixed component$11,329 $10,841 $33,723 $32,667 
Variable component590 233 1,133 874 
$11,919 $11,074 $34,856 $33,541 
The following table summarizes the future rental payments that are payable to us from non-cancelable leases. The table excludes multifamily leases, which typically have a term of one-year or less:
2025$14,143 
202614,017 
202713,237 
202811,134 
20298,629 
Thereafter18,928 
$80,088