Lease Accounting (Tables)

3 Months Ended

Mar. 31, 2025

Leases [Abstract]

Schedule of Operating Lease, Lease Income

The following table presents the Company’s classification of rental revenue for its operating leases and sales-type lease for the three months ended March 31, 2025 and 2024:

	Three Months Ended March 31,
Classification	2025		2024
Fixed	$	72,890	$	70,012
Sales-type lease income	—		1,899
Variable(1)	15,003		13,296
Total	$	87,893	$	85,207

(1) Primarily comprised of tenant reimbursements.

Schedule of Lessor, Operating Lease, Payments to be Received, Maturity

Future fixed rental receipts for operating leases assuming no new or re-negotiated leases as of March 31, 2025 were as follows:

	Operating
2025 - remainder	$	209,809
2026	271,811
2027	239,223
2028	206,139
2029	179,753
2030	137,340
Thereafter	382,597
Total	$	1,626,672

Schedule of Lease, Cost

Supplemental information related to operating leases is as follows:

	Three Months Ended
	March 31, 2025		March 31, 2024
Weighted-average remaining lease term
Operating leases (years)	8.7		8.5
Weighted-average discount rate
Operating leases	4.2	%	4.0	%

The components of lease expense for the three months ended March 31, 2025 and 2024 were as follows:

Income Statement Classification	Fixed		Variable		Total
2025:
Property operating	$	859	$	15	$	874
General and administrative(1)	475		66		541
Total	$	1,334	$	81	$	1,415
2024:
Property operating	$	878	$	15	$	893
General and administrative	381		67		448
Total	$	1,259	$	82	$	1,341

(1) For the three months ended March 31, 2025 and 2024, the general and administrative lease expense excludes a reduction of $226 and $42, respectively, to lease expense for the sublease of the Company's office space in New York, New York.

Schedule of Lessee, Operating Lease, Liability, Maturity

The following table shows the Company's maturity analysis of its operating lease liabilities as of March 31, 2025:

	Operating Leases
2025 - remainder	$	3,907
2026	4,451
2027	3,968
2028	1,356
2029	518
2030	301
Thereafter	5,095
Total lease payments	$	19,596
Less: Imputed interest	(3,736)
Present value of lease liabilities	$	15,860