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Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenues:      
Lease income $ 1,411,379 $ 1,283,939 $ 1,187,452
Other property income 14,651 11,573 10,719
Management, transaction, and other fees 27,874 26,954 25,851
Total revenues 1,453,904 1,322,466 1,224,022
Operating expenses:      
Depreciation and amortization 394,714 352,282 319,697
Property operating expense 248,637 229,209 196,148
Real estate taxes 184,415 165,560 149,795
General and administrative 101,465 97,806 79,903
Other operating expenses 10,867 9,459 6,166
Total operating expenses 940,098 854,316 751,709
Other expense, net:      
Interest expense, net 180,119 154,249 146,186
Provision for impairment of real estate 14,304    
Gain on sale of real estate, net of tax (34,162) (661) (109,005)
Loss (gain) on early extinguishment of debt 180 (99)  
Net investment (income) loss (6,181) (5,665) 6,921
Total other expense, net 154,260 147,824 44,102
Income before equity in income of investments in real estate partnerships 359,546 320,326 428,211
Equity in income of investments in real estate partnerships 50,294 50,541 59,824
Net income 409,840 370,867 488,035
Noncontrolling interests:      
Exchangeable operating partnership units ("EOP") (2,338) (2,008) (2,105)
Limited partners’ interests in consolidated partnerships (7,114) (4,302) (3,065)
Net income attributable to noncontrolling interests (9,452) (6,310) (5,170)
Net income attributable to the Company 400,388 364,557 482,865
Preferred stock dividends (13,650) (5,057)  
Net income attributable to common shareholders $ 386,738 $ 359,500 $ 482,865
Net income attributable to common shareholders:      
Per common share - basic $ 2.12 $ 2.04 $ 2.82
Per common share - diluted $ 2.11 $ 2.04 $ 2.81
Partnership Interest [Member]      
Revenues:      
Lease income $ 1,411,379 $ 1,283,939 $ 1,187,452
Other property income 14,651 11,573 10,719
Management, transaction, and other fees 27,874 26,954 25,851
Total revenues 1,453,904 1,322,466 1,224,022
Operating expenses:      
Depreciation and amortization 394,714 352,282 319,697
Property operating expense 248,637 229,209 196,148
Real estate taxes 184,415 165,560 149,795
General and administrative 101,465 97,806 79,903
Other operating expenses 10,867 9,459 6,166
Total operating expenses 940,098 854,316 751,709
Other expense, net:      
Interest expense, net 180,119 154,249 146,186
Provision for impairment of real estate 14,304    
Gain on sale of real estate, net of tax (34,162) (661) (109,005)
Loss (gain) on early extinguishment of debt 180 (99)  
Net investment (income) loss (6,181) (5,665) 6,921
Total other expense, net 154,260 147,824 44,102
Income before equity in income of investments in real estate partnerships 359,546 320,326 428,211
Equity in income of investments in real estate partnerships 50,294 50,541 59,824
Net income 409,840 370,867 488,035
Noncontrolling interests:      
Limited partners’ interests in consolidated partnerships (7,114) (4,302) (3,065)
Net income attributable to noncontrolling interests (7,114) (4,302) (3,065)
Net income attributable to the Company 402,726 366,565 484,970
Preferred unit distributions (13,650) (5,057)  
Net income attributable to common shareholders:      
Net income attributable to common unit holders: $ 389,076 $ 361,508 $ 484,970
Per common unit - basic $ 2.12 $ 2.04 $ 2.82
Per common unit - diluted $ 2.11 $ 2.04 $ 2.81