Leases (Tables)

6 Months Ended

Jun. 30, 2025

Leases [Abstract]

Schedule of Rental Revenue Components

Rental revenue is comprised of the following:


		Three Months Ended June 30,								Six Months Ended June 30,
		2025				2024				2025				2024
Income from leases		$	35,560			$	37,321			$	69,373			$	74,212
Straight-line rent adjustments			168				(1,044	)			376				(1,029	)
Tenant recoveries			11,022				11,759				22,127				24,618
Amortization of above market leases			(130	)			(133	)			(271	)			(269	)
Amortization of below market leases			438				426				871				880
Total		$	47,058			$	48,329			$	92,476			$	98,412

Schedule of Lease Costs

The following table summarizes the operating lease expense recognized during the three and six months ended June 30, 2025 and 2024 included in the Company’s condensed consolidated statements of operations.


		Three Months Ended June 30,								Six Months Ended June 30,
		2025				2024				2025				2024
Operating lease expense included in general and administrative expense attributable to office leases		$	203			$	222			$	393			$	422
Operating lease expense included in property expense attributable to ground sublease			9				9				18				18
Straight-line rent adjustments			28				44				78				87
Cash paid for amounts included in the measurement of lease liabilities (operating cash flows)		$	240			$	275			$	489			$	527

Schedule of Lessee Future Minimum Rental Commitments under Non-cancellable Leases

The following table summarizes the maturity analysis of our operating leases, which is discounted by our incremental borrowing rate to calculate the lease liability as included in accounts payable, accrued expenses and other liabilities in the Company’s condensed consolidated balance sheets for the operating leases in which we are the lessee:


July 1, 2025 – December 31, 2025		$	431
2026			876
2027			894
2028			865
2029			849
Thereafter			1,809
Total minimum operating lease payments		$	5,724
Less imputed interest			(1,220	)
Total operating lease liability		$	4,504

Schedule of Finance Lease Expense

The following table summarizes the financing lease expense recognized during the three and six months ended June 30, 2025 and 2024 included in the Company’s condensed consolidated statements of operations.


		Three Months Ended June 30,								Six Months Ended June 30,
		2025				2024				2025				2024
Depreciation/amortization of financing lease right-of-use assets		$	7			$	7			$	14			$	14
Interest expense for financing lease liability			45				45				90				90
Total financing lease cost		$	52			$	52			$	104			$	104

Schedule of Finance Lease, Liability, Fiscal Year Maturity

The following table summarizes the maturity analysis of our financing lease:


July 1, 2025 – December 31, 2025		$	85
2026			170
2027			170
2028			170
2029			170
Thereafter			6,027
Total minimum financing lease payments		$	6,792
Less imputed interest			(4,490	)
Total financing lease liability		$	2,302