Quarterly report [Sections 13 or 15(d)]

Leases (Tables)

v3.26.1
Leases (Tables)
 3 Months Ended
Mar. 31, 2026
Leases [Abstract]  
Schedule of Lease Income
The components of rental revenue from the Company’s operating leases during the periods indicated below were as follows (in thousands):
Three Months Ended March 31,
2026 2025
Fixed:
Cash rental revenue $ 26,511  $ 23,642 
Straight-line rental revenue (1,830) 3,631 
Lease intangible amortization 150  250 
Fixed property operating cost reimbursements 1,659  1,509 
Other fixed rental revenue 1,900  703 
Total fixed 28,390  29,735 
Variable:
Variable property operating cost reimbursements 7,208  7,460 
Other variable rental revenue 536  602 
Total variable 7,744  8,062 
Total rental revenue $ 36,134  $ 37,797 
Schedule of Future Minimum Base Rent Payments
The following table presents future minimum base rent payments due to the Company under the terms of its operating lease agreements, excluding expense reimbursements, over the next five years and thereafter as of March 31, 2026 (in thousands).
Future Minimum
Base Rent Payments
April 1, 2026 - December 31, 2026
 $ 66,026 
2027 82,565 
2028 73,809 
2029 58,591 
2030 56,722 
2031 52,473 
Thereafter 281,589 
Total $ 671,775 
Schedule of Maturity Analysis of Payments Due
The following table reflects the maturity analysis of payments due from the Company over the next five years and thereafter for ground and corporate office lease obligations as of March 31, 2026 (in thousands).
Future Minimum Lease Payments
April 1, 2026 - December 31, 2026
 $ 707 
2027 1,355 
2028 1,380 
2029 1,108 
2030 1,098 
2031 833 
Thereafter 11,149 
Total 17,630 
Less: imputed interest 5,499 
Total $ 12,131