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Leases
6 Months Ended
Jun. 30, 2025
Leases [Abstract]  
Leases
4.
Leases

The disaggregation of the Company’s lease income, which is included in Rental income on the Company’s consolidated statements of operations, as either fixed or variable lease income based on the criteria specified in ASC 842, for the three and six months ended June 30, 2025 and 2024, was as follows (in thousands):

 

 

Three Months

 

 

Six Months

 

 

 

Ended June 30,

 

 

Ended June 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Rental income:

 

 

 

 

 

 

 

 

 

 

 

 

Fixed lease income(A)

 

$

22,332

 

 

$

62,635

 

 

$

45,296

 

 

$

127,682

 

Variable lease income(B)

 

 

7,936

 

 

 

22,730

 

 

 

16,390

 

 

 

48,334

 

Above-market and below-market leases amortization, net

 

 

166

 

 

 

225

 

 

 

306

 

 

 

782

 

Adjustments for potentially uncollectible revenues and disputed amounts(C)

 

 

228

 

 

 

(54

)

 

 

120

 

 

 

464

 

Total rental income

 

$

30,662

 

 

$

85,536

 

 

$

62,112

 

 

$

177,262

 

(A) Includes minimum base rents, expense reimbursements, ancillary income and straight-line rent adjustments.

(B) Includes expense reimbursements, percentage and overage rent, lease termination fee income and ancillary income.

(C) The amounts represent adjustments associated with potential uncollectible revenues and disputed amounts.