v3.25.1
Leases (Tables)
3 Months Ended
Mar. 31, 2025
Leases [Abstract]  
Summary of Disaggregation of Lease Income

The disaggregation of the Company’s lease income, which is included in Rental income on the Company’s consolidated statements of operations, as either fixed or variable lease income based on the criteria specified in ASC 842, for the three months ended March 31, 2025 and 2024, was as follows (in thousands):

 

 

Three Months

 

 

 

Ended March 31,

 

 

 

2025

 

 

2024

 

Rental income:

 

 

 

 

 

 

Fixed lease income(A)

 

$

22,964

 

 

$

65,047

 

Variable lease income(B)

 

 

8,454

 

 

 

25,604

 

Above-market and below-market leases amortization, net

 

 

140

 

 

 

557

 

Adjustments for potentially uncollectible revenues and disputed amounts(C)

 

 

(108

)

 

 

518

 

Total rental income

 

$

31,450

 

 

$

91,726

 

(A) Includes minimum base rents, expense reimbursements, ancillary income and straight-line rent adjustments.

(B) Includes expense reimbursements, percentage and overage rent, lease termination fee income and ancillary income.

(C) The amounts represent adjustments associated with potentially uncollectible revenues and disputed amounts.