Segment Information - Summary of Reconciliation of NOI to Net Income (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
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Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2025 |
Jun. 30, 2024 |
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Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||||
NOI | $ 280,933 | $ 258,392 | $ 554,471 | $ 521,330 |
Straight-line rent on lease income | 5,787 | 4,120 | 11,394 | 9,714 |
Above/below market rent amortization, net | 5,731 | 7,441 | 12,481 | 13,264 |
Management, transaction, and other fees | 7,244 | 6,735 | 14,056 | 13,131 |
Straight-line rent on ground rent | (336) | (336) | (673) | (677) |
Above/below market ground rent amortization | (532) | (535) | (1,067) | (1,070) |
Depreciation and amortization | (99,535) | (100,968) | (196,309) | (198,553) |
General and administrative | (25,480) | (24,238) | (47,080) | (50,370) |
Other operating expenses | (1,944) | (3,066) | (3,632) | (5,709) |
Other expense, net | (51,040) | (31,394) | (99,713) | (60,608) |
Add: Share of noncontrolling interests excluded from NOI | 2,200 | 2,036 | 4,404 | 4,082 |
Less: Equity in income of investments in real estate excluded from NOI | (14,679) | (13,258) | (28,130) | (26,947) |
Net income | $ 108,349 | $ 104,929 | $ 220,202 | $ 217,587 |
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- Definition Above/below market ground rent amortization. No definition available.
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- Definition Above below market rent amortization net. No definition available.
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- Definition Equity in income of investments in real estate. No definition available.
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- Definition Share of noncontrolling interests excluded from Net Operating Income. No definition available.
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- Definition Straight-line rent on ground rent. No definition available.
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- Definition The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The net amount of other operating income and expenses, the components of which are not separately disclosed on the income statement, from items that are associated with the entity's normal revenue producing operations. No definition available.
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of revenue derived from managing real estate properties. No definition available.
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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- Definition Difference between actual rental income due and rental income recognized on a straight-line basis. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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