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Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues:        
Lease income $ 347,845 $ 304,458 $ 700,951 $ 613,259
Other property income 2,670 2,683 7,020 5,821
Management, transaction, and other fees 6,735 7,106 13,131 13,144
Total revenues 357,250 314,247 721,102 632,224
Operating expenses:        
Depreciation and amortization 100,968 83,161 198,553 165,868
Property operating expense 59,491 54,394 122,765 105,416
Real estate taxes 45,478 38,509 89,785 76,986
General and administrative 24,238 25,065 50,370 50,345
Other operating expenses 3,066 1,682 5,709 1,185
Total operating expenses 233,241 202,811 467,182 399,800
Other expense, net:        
Interest expense, net 43,178 36,956 86,046 73,349
Gain on sale of real estate, net of tax (11,081) (81) (22,484) (331)
Loss on early extinguishment of debt     180  
Net investment income (703) (1,742) (3,134) (3,469)
Total other expense, net 31,394 35,133 60,608 69,549
Income before equity in income of investments in real estate partnerships 92,615 76,303 193,312 162,875
Equity in income of investments in real estate partnerships 12,314 11,869 24,275 23,785
Net income 104,929 88,172 217,587 186,660
Noncontrolling interests:        
Exchangeable operating partnership units (601) (550) (1,243) (970)
Limited partners' interests in consolidated partnerships (1,660) (840) (3,902) (1,627)
Net income attributable to noncontrolling interests (2,261) (1,390) (5,145) (2,597)
Net income attributable to the Company/ Partnership 102,668 86,782 212,442 184,063
Preferred stock dividends (3,413)   (6,826)  
Net income attributable to common shareholders $ 99,255 $ 86,782 $ 205,616 $ 184,063
Net income attributable to common unit holders:        
Per common unit - basic $ 0.54 $ 0.51 $ 1.12 $ 1.08
Per common unit - diluted $ 0.54 $ 0.51 $ 1.12 $ 1.07
Partnership Interest [Member]        
Revenues:        
Lease income $ 347,845 $ 304,458 $ 700,951 $ 613,259
Other property income 2,670 2,683 7,020 5,821
Management, transaction, and other fees 6,735 7,106 13,131 13,144
Total revenues 357,250 314,247 721,102 632,224
Operating expenses:        
Depreciation and amortization 100,968 83,161 198,553 165,868
Property operating expense 59,491 54,394 122,765 105,416
Real estate taxes 45,478 38,509 89,785 76,986
General and administrative 24,238 25,065 50,370 50,345
Other operating expenses 3,066 1,682 5,709 1,185
Total operating expenses 233,241 202,811 467,182 399,800
Other expense, net:        
Interest expense, net 43,178 36,956 86,046 73,349
Gain on sale of real estate, net of tax (11,081) (81) (22,484) (331)
Loss on early extinguishment of debt     180  
Net investment income (703) (1,742) (3,134) (3,469)
Total other expense, net 31,394 35,133 60,608 69,549
Income before equity in income of investments in real estate partnerships 92,615 76,303 193,312 162,875
Equity in income of investments in real estate partnerships 12,314 11,869 24,275 23,785
Net income 104,929 88,172 217,587 186,660
Noncontrolling interests:        
Limited partners' interests in consolidated partnerships (1,660) (840) (3,902) (1,627)
Net income attributable to noncontrolling interests (1,660) (840) (3,902) (1,627)
Net income attributable to the Company/ Partnership 103,269 87,332 213,685 185,033
Preferred unit distributions (3,413)   (6,826)  
Net income attributable to common unit holders $ 99,856 $ 87,332 $ 206,859 $ 185,033
Net income attributable to common unit holders:        
Per common unit - basic $ 0.54 $ 0.51 $ 1.12 $ 1.08
Per common unit - diluted $ 0.54 $ 0.51 $ 1.12 $ 1.07