The following table provides the components of Portfolio Net Operating Income, a non-GAAP metric, related to our business for three months ended March 31, 2025 and March 31, 2024:


	Three months ended
	March 31,
	2025		2024
Property Revenues:
Rental revenue	$	129,285	$	117,809
Other revenues	3,671		3,284
Total Revenues	$	132,956	$	121,093

Property Operating Expenses:
Advertising and promotion	$	3,022	$	3,499
Common area maintenance	18,969		16,208
Real estate taxes	10,045		9,106
Other operating expense	7,838		4,423
Total Operating Expenses	$	39,874	$	33,236

Portfolio Net Operating Income - Consolidated	$	93,082	$	87,857

Equity in earnings of unconsolidated joint ventures	$	2,399	$	2,516
Interest expense	(15,772)		(14,353)
Impairment charges	(4,249)		—

Other income	217		587
Depreciation and amortization	(37,146)		(33,860)
Other non-property (income) expenses	40		395
Corporate general and administrative expenses	(19,016)		(19,489)
Non-cash adjustments	(6)		(609)
Lease termination fees	450		262

Net Income	$	19,999	$	23,306