v3.25.2
LEASES (Tables)
 6 Months Ended
Jun. 30, 2025
Leases [Abstract]  
Schedule of Future Minimum Rental Income from Operating Leases
As of June 30, 2025, the future minimum rental income from the Company’s real estate assets under non-cancelable operating leases, assuming no exercise of renewal options for the succeeding five fiscal years and thereafter, was as follows (in thousands):
Future Minimum Rental Income
Remainder of 2025$52,073 
2026102,342 
2027103,152 
2028100,602 
202998,582 
Thereafter581,303 
Total$1,038,054 
Schedule of Components of Lease Income
Rental and other property income during the three and six months ended June 30, 2025 and 2024 consisted of the following (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
 2025202420252024
Fixed rental and other property income (1)
$26,621 $21,897 $53,209 $44,588 
Variable rental and other property income (2)
2,558 1,665 4,778 3,548 
Total rental and other property income$29,179 $23,562 $57,987 $48,136 
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(1)Consists primarily of fixed contractual payments from operating leases with tenants recognized on a straight-line basis over the lease term, including amortization of acquired above- and below-market leases, and is net of uncollectible lease-related receivables.
(2)Consists primarily of tenant reimbursements for recoverable real estate taxes and property operating expenses, and percentage rent.