Rental Property Acquisitions and Developments (Tables)

12 Months Ended

Dec. 31, 2025

Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]

Schedule of Consideration Transferred to Acquire the Rental Properties

The aggregate fair value purchase price of the properties acquired during the year ended December 31, 2025 has been allocated as follows:

	Fair value (in thousands)		Weighted-Average Amortization Period (in years)
Land	$	32,608
Buildings, improvements and fixtures	243,573		34.9
Deferred lease costs and other intangibles:
Above market lease value	7,781		6.8
Below market lease value	(18,754)		12.2
Lease in place value	30,529		6.5
Lease and legal costs	7,451		5.3
Total deferred lease costs and other intangibles, net	27,007
Debt premium	(3,833)
Total fair value of net assets acquired	$	299,355

The consideration transferred to complete these rental property acquisitions and the purchase price allocation amongst the identifiable assets acquired and liabilities assumed was as follows:

	Fair value (in thousands)		Weighted-Average Amortization Period (in years)
Land	$	6,244
Buildings, improvements and fixtures	59,358		32.5
Deferred lease costs and other intangibles:
Above market lease value	4,664		5.6
Below market lease value	(3,987)		5.6
Lease in place value	6,163		5.6
Lease and legal costs	1,124		3.8
Total deferred lease costs and other intangibles, net	7,964
Total fair value of assets acquired	$	73,566

The consideration transferred to complete these rental property acquisitions and the purchase price allocation amongst the identifiable assets acquired and liabilities assumed was as follows:

	Fair value  (in thousands)		Weighted-Average Amortization Period (in years)
Land	$	28,524
Buildings, improvements and fixtures	202,276		31.3
Deferred lease costs and other intangibles:
Above market lease value	6,992		3.6
Below market lease value	(6,433)		3.3
Lease in place value	26,438		3.6
Lease and legal costs	7,259		3.8
Total deferred lease costs and other intangibles, net	34,256
Total fair value of assets acquired	$	265,056