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Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues:        
Lease income $ 349,057 $ 320,921 $ 1,050,008 $ 934,180
Other property income 4,444 2,638 11,464 8,459
Management, transaction, and other fees 6,765 7,079 19,896 20,223
Total revenues 360,266 330,638 1,081,368 962,862
Operating expenses:        
Depreciation and amortization 100,955 87,505 299,508 253,373
Property operating expense 60,477 59,227 183,242 164,643
Real estate taxes 45,729 40,171 135,514 117,157
General and administrative 25,073 20,903 75,443 71,248
Other operating expenses 3,654 3,533 9,363 4,718
Total operating expenses 235,888 211,339 703,070 611,139
Other expense, net:        
Interest expense, net 47,022 38,807 133,068 112,156
Gain on sale of real estate, net of tax (11,360) (184) (33,844) (515)
Loss on early extinguishment of debt     180  
Net investment (income) loss (1,372) 1,020 (4,506) (2,449)
Total other expense, net 34,290 39,643 94,898 109,192
Income before equity in income of investments in real estate partnerships 90,088 79,656 283,400 242,531
Equity in income of investments in real estate partnerships 13,488 12,517 37,763 36,302
Net income 103,576 92,173 321,163 278,833
Noncontrolling interests:        
Exchangeable operating partnership units (593) (520) (1,836) (1,490)
Limited partners' interests in consolidated partnerships (1,514) (933) (5,416) (2,560)
Net income attributable to noncontrolling interests (2,107) (1,453) (7,252) (4,050)
Net income attributable to the Company/ Partnership 101,469 90,720 313,911 274,783
Preferred stock dividends (3,413) (1,644) (10,239) (1,644)
Net income attributable to common shareholders $ 98,056 $ 89,076 $ 303,672 $ 273,139
Net income attributable to common unit holders:        
Per common unit - basic $ 0.54 $ 0.5 $ 1.66 $ 1.58
Per common unit - diluted $ 0.54 $ 0.5 $ 1.66 $ 1.57
Partnership Interest [Member]        
Revenues:        
Lease income $ 349,057 $ 320,921 $ 1,050,008 $ 934,180
Other property income 4,444 2,638 11,464 8,459
Management, transaction, and other fees 6,765 7,079 19,896 20,223
Total revenues 360,266 330,638 1,081,368 962,862
Operating expenses:        
Depreciation and amortization 100,955 87,505 299,508 253,373
Property operating expense 60,477 59,227 183,242 164,643
Real estate taxes 45,729 40,171 135,514 117,157
General and administrative 25,073 20,903 75,443 71,248
Other operating expenses 3,654 3,533 9,363 4,718
Total operating expenses 235,888 211,339 703,070 611,139
Other expense, net:        
Interest expense, net 47,022 38,807 133,068 112,156
Gain on sale of real estate, net of tax (11,360) (184) (33,844) (515)
Loss on early extinguishment of debt     180  
Net investment (income) loss (1,372) 1,020 (4,506) (2,449)
Total other expense, net 34,290 39,643 94,898 109,192
Income before equity in income of investments in real estate partnerships 90,088 79,656 283,400 242,531
Equity in income of investments in real estate partnerships 13,488 12,517 37,763 36,302
Net income 103,576 92,173 321,163 278,833
Noncontrolling interests:        
Limited partners' interests in consolidated partnerships (1,514) (933) (5,416) (2,560)
Net income attributable to noncontrolling interests (1,514) (933) (5,416) (2,560)
Net income attributable to the Company/ Partnership 102,062 91,240 315,747 276,273
Preferred unit distributions (3,413) (1,644) (10,239) (1,644)
Net income attributable to common unit holders $ 98,649 $ 89,596 $ 305,508 $ 274,629
Net income attributable to common unit holders:        
Per common unit - basic $ 0.54 $ 0.5 $ 1.66 $ 1.58
Per common unit - diluted $ 0.54 $ 0.5 $ 1.66 $ 1.57