Related Party Arrangements |
6 Months Ended |
|---|---|
Jun. 30, 2025 | |
| Related Party Transactions [Abstract] | |
| Related Party Arrangements | Related Party Arrangements Unconsolidated Entities The Company manages unconsolidated real estate entities and provides other real estate related services to third parties, for which it receives asset management, property management, construction, development and redevelopment fee revenue. From these entities, the Company earned fees of $1,594,000 and $1,830,000 for the three months ended June 30, 2025 and 2024, respectively, and $3,336,000 and $3,625,000 for the six months ended June 30, 2025 and 2024. In addition, the Company had outstanding receivables associated with its property and construction management roles of $4,119,000 and $1,680,000 as of June 30, 2025 and December 31, 2024, respectively. Director Compensation The Company recorded non-employee director compensation expense relating to restricted stock grants and deferred stock units in the amount of $604,000 and $603,000 for the three months ended June 30, 2025 and 2024, respectively, and $1,192,000 and $1,199,000 for the six months ended June 30, 2025 and 2024, respectively, as a component of general and administrative expense. Deferred compensation relating to these restricted stock grants and deferred stock units to non-employee directors was $1,834,000 and $786,000 on June 30, 2025 and December 31, 2024, respectively, reported as a component of prepaid expenses and other assets on the accompanying Condensed Consolidated Balance Sheets.
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