v3.25.2
SEGMENT REPORTING (Details) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Segment Reporting Information [Line Items]        
Real estate taxes $ 16,582,000 $ 17,472,000 $ 32,940,000 $ 34,475,000
Property operating 17,531,000 18,260,000 40,263,000 38,766,000
Lease expense 3,290,000 3,115,000 6,661,000 6,243,000
Depreciation and amortization (32,602,000) (39,679,000) (69,797,000) (78,253,000)
Interest and debt expense (19,537,000) (21,896,000) (39,292,000) (42,473,000)
General and administrative (11,717,000) (9,368,000) (21,248,000) (18,414,000)
(Loss) gain on extinguishment of debt (175,000) 21,699,000 323,000 21,427,000
Real estate impairment loss 0   0  
Interest income 667,000 661,000 1,274,000 1,349,000
Gain on sale of real estate 49,462,000 13,447,000 49,462,000 15,349,000
Income before income taxes 61,436,000 32,563,000 70,437,000 35,673,000
Reportable Segment | Operating Segments        
Segment Reporting Information [Line Items]        
Rental revenue from tenant expense reimbursements 111,314,000 105,463,000 226,143,000 213,065,000
Real estate taxes 17,028,000 17,923,000 33,868,000 35,374,000
Property operating 19,477,000 18,360,000 43,943,000 38,969,000
Lease expense 2,047,000 2,195,000 4,145,000 4,825,000
Costs and Expenses 38,552,000 38,478,000 81,956,000 79,168,000
Property Net Operating Income 72,762,000 66,985,000 144,187,000 133,897,000
Depreciation and amortization (32,602,000) (39,679,000) (69,797,000) (78,253,000)
Interest and debt expense (19,537,000) (21,896,000) (39,292,000) (42,473,000)
General and administrative (11,717,000) (9,368,000) (21,248,000) (18,414,000)
(Loss) gain on extinguishment of debt (175,000) 21,699,000 323,000 21,427,000
Interest income 446,000 402,000 852,000 824,000
Straight-line rents, amortization of above and below-market leases, and other 2,762,000 1,019,000 6,034,000 3,541,000
Gain on sale of real estate 49,462,000 13,447,000 49,462,000 15,349,000
Other (expense) income 35,000 (46,000) (84,000) (225,000)
Income before income taxes 61,436,000 32,563,000 70,437,000 35,673,000
Property Rentals | Reportable Segment | Operating Segments        
Segment Reporting Information [Line Items]        
Rental revenue from tenant expense reimbursements 79,895,000 77,259,000 159,989,000 154,577,000
Tenant expense reimbursements | Reportable Segment | Operating Segments        
Segment Reporting Information [Line Items]        
Rental revenue from tenant expense reimbursements $ 31,419,000 $ 28,204,000 $ 66,154,000 $ 58,488,000