v3.25.1
SEGMENT REPORTING (Tables)
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
The following table provides the components of Property NOI related to our single reportable segment for the quarters ended March 31, 2025 and 2024:
Three Months Ended March 31,
(Amounts in thousands)20252024
REVENUE
Property rentals$80,094 $77,318 
Tenant expense reimbursements34,735 30,284 
Total property revenues114,829 107,602 
EXPENSES
Real estate taxes16,840 17,451 
Property operating24,466 20,609 
Lease expense2,098 2,630 
Total property operating expenses43,404 40,690 
Property net operating income$71,425 $66,912 
Reconciliation of Property NOI to income before income taxes
Depreciation and amortization(37,195)(38,574)
Interest and debt expense(19,755)(20,577)
General and administrative expense(9,531)(9,046)
Gain (loss) on extinguishment of debt498 (272)
Interest income406 422 
Straight-line rents, amortization of above and below-market leases, and other3,272 2,522 
Gain on sale of real estate— 1,902 
Other expense(1)
(119)(179)
Income before income taxes$9,001 $3,110 
(1) Includes intercompany eliminations and other income and expenses related to corporate activities, including the captive insurance program.