v3.25.2
SEGMENT REPORTING (Tables)
 6 Months Ended
Jun. 30, 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 three and six months ended June 30, 2025 and 2024:
Three Months Ended June 30,Six Months Ended June 30,
(Amounts in thousands)2025202420252024
REVENUE
Property rentals$79,895 $77,259 $159,989 $154,577 
Tenant expense reimbursements31,419 28,204 66,154 58,488 
Total property revenues111,314 105,463 226,143 213,065 
EXPENSES
Real estate taxes17,028 17,923 33,868 35,374 
Property operating19,477 18,360 43,943 38,969 
Lease expense2,047 2,195 4,145 4,825 
Total property operating expenses38,552 38,478 81,956 79,168 
Property net operating income$72,762 $66,985 $144,187 $133,897 
Reconciliation of Property NOI to income before income taxes
Depreciation and amortization(32,602)(39,679)(69,797)(78,253)
Interest and debt expense(19,537)(21,896)(39,292)(42,473)
General and administrative expense(11,717)(9,368)(21,248)(18,414)
(Loss) gain on extinguishment of debt(175)21,699 323 21,427 
Interest income446 402 852 824 
Straight-line rents, amortization of above and below-market leases, and other2,762 1,019 6,034 3,541 
Gain on sale of real estate49,462 13,447 49,462 15,349 
Other income (expense)(1)
35 (46)(84)(225)
Income before income taxes$61,436 $32,563 $70,437 $35,673 
(1) Includes intercompany eliminations and other income and expenses related to corporate activities, including the captive insurance program.