Business Segments (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Schedule of Business Segments

The following tables summarize property net operating income and total assets for each of our reportable segments:

	Shopping		Mixed-Use
(In thousands)	Centers		Properties		Total
As of or for the year ended December 31, 2024
Revenue:
Total property revenue	$	186,205	$	89,621	$	275,826
Revenue adjustments (1)					(6,979)
Total revenue					$	268,847
Expenses:
Real estate taxes	(19,469)		(10,873)
Repairs & maintenance	(11,872)		(6,899)
Other expenses (2)	(10,165)		(12,783)
Property net operating income	$	144,699	$	59,066	$	203,765
Non-segment items:
Interest expense, net and amortization of deferred debt costs					(53,696)
Depreciation and amortization of deferred leasing costs					(50,502)
General and administrative					(25,066)
Revenue adjustments (1)					(6,979)
Gain on disposition of property					181
Net income					$	67,703
Capital investment	$	18,010	$	170,723	$	188,733
Total assets per segment	$	903,141	$	1,206,655	$	2,109,796
Other assets (3)					16,608
Total assets					$	2,126,404

	Shopping		Mixed-Use
(In thousands)	Centers		Properties		Total
As of or for the year ended December 31, 2023
Revenue:
Total property revenue	$	178,547	$	77,994	$	256,541
Revenue adjustments (1)					666
Total revenue					$	257,207
Expenses:
Real estate taxes	(18,808)		(10,842)
Repairs & maintenance	(9,320)		(6,181)
Other expenses (2)	(10,356)		(11,632)
Property net operating income	$	140,063	$	49,339	$	189,402
Non-segment items:
Interest expense, net and amortization of deferred debt costs					(49,153)
Depreciation and amortization of deferred leasing costs					(48,430)
General and administrative					(23,459)
Revenue adjustments (1)					666
Net income					$	69,026
Capital investment	$	16,491	$	187,190	$	203,681
Total assets per segment	$	918,089	$	1,057,332	$	1,975,421
Other assets (3)					18,716
Total assets					$	1,994,137
As of or for the year ended December 31, 2022
Revenue:
Total property revenue	$	171,415	$	73,631	$	245,046
Revenue adjustments (1)					814
Total revenue					$	245,860
Expenses:
Real estate taxes	(17,813)		(10,775)
Repairs & maintenance	(9,701)		(5,527)
Other expenses (2)	(9,381)		(11,325)
Property net operating income	$	134,520	$	46,004	$	180,524
Non-segment items:
Interest expense, net and amortization of deferred debt costs					(43,937)
Depreciation and amortization of deferred leasing costs					(48,969)
General and administrative					(22,392)
Revenue adjustments (1)					814
Loss on early extinguishment of debt					(648)
Net income (loss)					$	65,392
Capital investment	$	8,412	$	108,476	$	116,888
Total assets per segment	$	928,071	$	885,500	$	1,813,571
Other assets (3)					19,731
Total assets					$	1,833,302

(1)    Revenue adjustments are straight-line base rent and above/below market lease amortization.

(2)    Other expenses include payroll, utilities, insurance, legal, parking, advertising, and other.

(3)    Other assets include cash on hand, swap assets, and an operating lease right of use asset.