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Segment Reporting
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
We focus on developing, acquiring, owning, operating, and managing shopping centers. We consider each shopping center an operating segment. We aggregate the financial information of all centers into one reportable segment because the centers all have similar economic characteristics and provide similar products and services to similar types and classes of customers and tenants.

Our Chief Operating Decision Maker (“CODM”), the President and Chief Executive Officer, reviews operating and financial information using Net Operating Income ("NOI") as the key measure to assess performance and allocate resources. The CODM also uses NOI and its components to monitor budget versus actual results. Our resources are allocated by evaluating the operating results of the business as well as considering capital needs and future projections, and deploying them across the various business functions as deemed necessary while ensuring the uses align with our overall business strategy.

The following table provides the components of Portfolio Net Operating Income, a non-GAAP metric, related to our business for three months ended March 31, 2025 and March 31, 2024:
Three months ended
March 31,
20252024
Property Revenues:
  Rental revenue$129,285 $117,809 
  Other revenues3,671 3,284 
Total Revenues$132,956 $121,093 
Property Operating Expenses:
Advertising and promotion$3,022 $3,499 
Common area maintenance18,969 16,208 
Real estate taxes10,045 9,106 
Other operating expense7,838 4,423 
Total Operating Expenses$39,874 $33,236 
Portfolio Net Operating Income - Consolidated$93,082 $87,857 
Equity in earnings of unconsolidated joint ventures$2,399 $2,516 
Interest expense(15,772)(14,353)
Impairment charges(4,249)— 
Other income217 587 
Depreciation and amortization(37,146)(33,860)
Other non-property (income) expenses40 395 
Corporate general and administrative expenses(19,016)(19,489)
Non-cash adjustments(6)(609)
Lease termination fees450 262 
Net Income$19,999 $23,306