​

​

Three Months Ended June 30,

​

Six Months Ended June 30,

​

​

2025

​

2024

​

2025

​

2024

​

​

(in thousands)

Total revenues

$

282,303

$

266,209

​

$

555,339

$

527,615

​

​

​

​

​

​

​

​

​

​

​

​

​

Significant segment-level expenses (income):

​

​

​

​

​

​

​

​

​

​

​

​

Property taxes

​

​

30,087

​

​

26,686

​

​

60,266

​

​

54,048

Personnel expense

​

​

22,404

​

​

23,576

​

​

43,784

​

​

44,668

Advertising

​

​

9,986

​

​

8,424

​

​

14,407

​

​

12,016

Repair and maintenance

​

​

3,184

​

​

3,245

​

​

6,048

​

​

5,806

Utilities

​

​

5,758

​

​

5,554

​

​

12,427

​

​

11,911

Property insurance

​

​

3,856

​

​

3,831

​

​

8,029

​

​

7,503

Other property operating expenses

​

​

13,753

​

​

11,781

​

​

27,001

​

​

24,182

Total property operating expenses

​

​

89,028

​

​

83,097

​

​

171,962

​

​

160,134

​

​

​

​

​

​

​

​

​

​

​

​

​

Depreciation and amortization

​

​

66,488

​

​

51,035

​

​

125,644

​

​

101,752

General and administrative

​

​

14,897

​

​

14,622

​

​

30,965

​

​

30,247

Interest expense on loans

​

​

29,090

​

​

22,767

​

​

55,190

​

​

45,686

Loan procurement amortization expense

​

​

1,221

​

​

1,015

​

​

2,442

​

​

2,045

Equity in earnings of real estate ventures

​

​

(547)

​

​

(425)

​

​

(926)

​

​

(1,270)

Other

​

​

(306)

​

​

(88)

​

​

(1,115)

​

​

(23)

Net income

​

$

82,432

​

$

94,186

​

$

171,177

​

$

189,044

​

​

​

​

​

​

​

​

​

​

​

​

​