Leases (Tables)

6 Months Ended

Jun. 30, 2025

Leases [Abstract]

Schedule of Rental Revenue, Disaggregated into Fixed and Variable Lease Income

The following table presents the components of rental revenue, disaggregated into fixed and variable lease income (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Fixed lease revenue	$	78,871	$	69,366	$	163,074	$	138,023
Variable lease revenue		19,426		16,260		37,863		33,640
Total rental revenue	$	98,297	$	85,626	$	200,937	$	171,663

Schedule of Future Minimum Rental Revenues

The following table summarizes the Company’s scheduled future minimum rental revenues under non-cancelable tenant leases with remaining terms greater than one year, as of June 30, 2025. These amounts assume no new or renegotiated leases or exercise of renewal options not deemed reasonably certain (in thousands):

Year Ending December 31,	Minimum Rental Revenues
2025 (Remainder)	$	139,061
2026		285,942
2027		265,003
2028		233,296
2029		195,453
Thereafter		727,877
Total	$	1,846,632

Schedule of Future Minimum Rental Payments for Operating and Capital Leases

	Minimum Rental Payments
Year Ending December 31,	Operating Leases (a)			Finance Leases (a)
2025 (Remainder)	$	2,670		$	671
2026		5,637			1,350
2027		4,850			1,350
2028		4,646			1,396
2029		4,121			1,415
Thereafter		13,065			155,318
		34,989			161,500
Interest		(7,009	)		(129,749	)
Total	$	27,980		$	31,751

(a)Minimum rental payments include $7.0 million of interest related to operating leases and $129.7 million related to finance leases. These amounts exclude lease renewal options that not reasonably certain to be exercised.

Schedule of Lease Cost

The following table summarizes additional lease cost information for the Company’s lessee arrangements (dollars in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Lease Cost
Finance lease cost:
Amortization of right-of-use assets	$	373	$	354	$	747	$	603
Interest on lease liabilities		513		512		1,025		1,034
Subtotal		886		866		1,772		1,637
Operating lease cost		1,409		1,303		2,715		2,635
Variable lease cost		105		69		194		144
Total lease cost	$	2,400	$	2,238	$	4,681	$	4,416
Cash Paid
Payments of operating lease obligations - operating activities	$	1,366	$	1,360	$	2,731	$	2,715
Payments of interest on finance lease obligations - operating activities		513		512		1,025		1,034
Payments of finance lease obligations - financing activities		132		47		378		89

	As of June 30,
	2025			2024
Other Information
Weighted-average remaining lease term - finance leases (years)		56.5			58.1
Weighted-average remaining lease term - operating leases (years)		8.3			9.4
Weighted-average discount rate - finance leases		6.5	%		6.5	%
Weighted-average discount rate - operating leases		5.1	%		5.1	%