Lease Accounting (Tables)

6 Months Ended

Jun. 30, 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 and six months ended June 30, 2025 and 2024:

	Three Months Ended June 30,				Six Months Ended June 30,
Classification	2025		2024		2025		2024
Fixed	$	72,285	$	69,748	$	145,175	$	139,760
Sales-type lease income	—		1,917		—		3,816
Variable(1)	14,459		13,103		29,462		26,399
Total	$	86,744	$	84,768	$	174,637	$	169,975

(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 June 30, 2025 were as follows:

	Operating
2025 - remainder	$	141,742
2026	278,808
2027	242,688
2028	207,663
2029	181,346
2030	138,990
Thereafter	395,809
Total	$	1,587,046

Schedule of Lease, Cost

Supplemental information related to operating leases is as follows:

	Six Months Ended
	June 30, 2025		June 30, 2024
Weighted-average remaining lease term
Operating leases (years)	9.0		8.6
Weighted-average discount rate
Operating leases	4.2	%	4.1	%

The components of lease expense for the six months ended June 30, 2025 and 2024 were as follows:

Income Statement Classification	Fixed		Variable		Total
2025:
Property operating	$	1,718	$	15	$	1,733
General and administrative(1)	954		169		1,123
Total	$	2,672	$	184	$	2,856
2024:
Property operating	$	1,756	$	15	$	1,771
General and administrative	788		124		912
Total	$	2,544	$	139	$	2,683

(1) For the six months ended June 30, 2025 and 2024, the general and administrative lease expense excludes a reduction of $451 and $267, 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 June 30, 2025:

	Operating Leases
2025 - remainder	$	2,616
2026	4,451
2027	3,968
2028	1,356
2029	518
2030	301
Thereafter	5,095
Total lease payments	$	18,305
Less: Imputed interest	(3,575)
Present value of lease liabilities	$	14,730