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Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenues:        
Lease income $ 377,761 $ 349,057 $ 1,117,945 $ 1,050,008
Other property income 3,089 4,444 10,609 11,464
Management, transaction, and other fees 6,720 6,765 20,776 19,896
Total revenues 387,570 360,266 1,149,330 1,081,368
Operating expenses:        
Depreciation and amortization 102,799 100,955 299,108 299,508
Property operating expense 65,471 60,477 194,689 183,242
Real estate taxes 47,080 45,729 140,940 135,514
General and administrative 27,060 25,073 74,140 75,443
Other operating expenses 1,770 3,654 5,402 9,363
Total operating expenses 244,180 235,888 714,279 703,070
Other expense, net:        
Interest expense, net 51,323 47,022 149,608 133,068
Provision for impairment of real estate 3,374   4,636  
Gain on sale of real estate, net of tax (6,198) (11,360) (6,005) (33,844)
Loss on early extinguishment of debt       180
Net investment income (2,602) (1,372) (2,629) (4,506)
Total other expense, net 45,897 34,290 145,610 94,898
Income before equity in income of investments in real estate partnerships 97,493 90,088 289,441 283,400
Equity in income of investments in real estate partnerships 15,124 13,488 43,378 37,763
Net income 112,617 103,576 332,819 321,163
Noncontrolling interests:        
Exchangeable operating partnership units (1,664) (593) (2,892) (1,836)
Limited partners' interests in consolidated partnerships (1,580) (1,514) (4,946) (5,416)
Net income attributable to noncontrolling interests (3,244) (2,107) (7,838) (7,252)
Net income attributable to the Company/ Partnership 109,373 101,469 324,981 313,911
Preferred stock dividends (3,413) (3,413) (10,239) (10,239)
Net income attributable to common shareholders $ 105,960 $ 98,056 $ 314,742 $ 303,672
Net income attributable to common shareholders:        
Per common unit - basic $ 0.58 $ 0.54 $ 1.73 $ 1.66
Per common unit - diluted $ 0.58 $ 0.54 $ 1.73 $ 1.66
Partnership Interest [Member]        
Revenues:        
Lease income $ 377,761 $ 349,057 $ 1,117,945 $ 1,050,008
Other property income 3,089 4,444 10,609 11,464
Management, transaction, and other fees 6,720 6,765 20,776 19,896
Total revenues 387,570 360,266 1,149,330 1,081,368
Operating expenses:        
Depreciation and amortization 102,799 100,955 299,108 299,508
Property operating expense 65,471 60,477 194,689 183,242
Real estate taxes 47,080 45,729 140,940 135,514
General and administrative 27,060 25,073 74,140 75,443
Other operating expenses 1,770 3,654 5,402 9,363
Total operating expenses 244,180 235,888 714,279 703,070
Other expense, net:        
Interest expense, net 51,323 47,022 149,608 133,068
Provision for impairment of real estate 3,374   4,636  
Gain on sale of real estate, net of tax (6,198) (11,360) (6,005) (33,844)
Loss on early extinguishment of debt       180
Net investment income (2,602) (1,372) (2,629) (4,506)
Total other expense, net 45,897 34,290 145,610 94,898
Income before equity in income of investments in real estate partnerships 97,493 90,088 289,441 283,400
Equity in income of investments in real estate partnerships 15,124 13,488 43,378 37,763
Net income 112,617 103,576 332,819 321,163
Noncontrolling interests:        
Limited partners' interests in consolidated partnerships (1,580) (1,514) (4,946) (5,416)
Net income attributable to noncontrolling interests (1,580) (1,514) (4,946) (5,416)
Net income attributable to the Company/ Partnership 111,037 102,062 327,873 315,747
Preferred unit distributions (3,413) (3,413) (10,239) (10,239)
Net income attributable to common unit holders $ 107,624 $ 98,649 $ 317,634 $ 305,508
Net income attributable to common unit holders:        
Per common unit - basic $ 0.58 $ 0.54 $ 1.73 $ 1.66
Per common unit - diluted $ 0.58 $ 0.54 $ 1.73 $ 1.66