v3.25.1
Future Minimum Rents and Lease Payments (Tables)
3 Months Ended
Mar. 31, 2025
Leases [Abstract]  
Schedule of Future Minimum Base Rents Receivable
The following table summarizes the future minimum base rents (excluding tenant reimbursements for operating expenses and termination fees related to tenants exercising early termination options) for properties as of March 31, 2025:
YearAmount
Remaining 2025
$381,948 
2026467,980 
2027412,100 
2028342,352 
2029274,300 
Thereafter567,324 
TOTAL$2,446,004 
Schedule of Future Minimum Lease Payments Due
The following table provides information regarding the Company’s future minimum lease payments for its operating leases (including the impact of the extension options which the Company is reasonably certain to exercise) as of March 31, 2025:
Year
Lease Payments(1)
Remaining 2025
$33,743 
202636,942 
202737,451 
202836,507 
202934,305 
Thereafter493,366 
Total operating lease payments
672,314 
Less: interest portion(302,830)
PRESENT VALUE OF OPERATING LEASE LIABILITIES$369,484 
__________________ 
1.Future minimum lease payments for operating leases denominated in a foreign currency are translated to U.S. dollars using the exchange rate in effect as of the financial statement date.
Schedule of Rental Expense
The following table summarizes rental expense for operating leases:
Three Months Ended March 31,
20252024
Variable rental expense$995 $2,102 
Minimum rental expense$17,148 $11,319