v3.25.4
Rental Income and Future Minimum Rent
12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Rental Income and Future Minimum Rent Rental Income and Future Minimum Rent
The table below sets forth the allocation of rental income between fixed and variable lease payments and net collectability considerations:
Year Ended December 31,
202520242023
(in thousands)
Fixed lease payments$900,285 $923,029 $944,618 
Variable lease payments194,374 197,502 184,672 
Impact from tenant creditworthiness considerations (1)
(1,072)(2,416)(11,553)
Total rental income$1,093,587 $1,118,115 $1,117,737 
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(1)Represents reversal/reserve adjustments to rental income related to our assessment of the collectability of amounts due under leases with our tenants, including recognition of deferred rent balances associated with tenants moved to / restored from a cash basis of revenue recognition and allowances for uncollectible receivables.

We have operating leases with tenants that expire at various dates through 2050 and may be subject to scheduled fixed increases and future renewal options. Leases may also provide for reimbursements of certain property-related operating expenses. Future contractual minimum rent under operating leases, which includes amounts contractually due from leases that are on a cash basis of reporting due to creditworthiness considerations, as of December 31, 2025 for future periods is summarized as follows:
Year Ending(in thousands)
2026$769,406 
2027769,403 
2028742,321 
2029666,034 
2030583,844 
Thereafter1,591,508 
Total (1)
$5,122,516 
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(1)Excludes residential leases, leases at properties classified as held for sale, and leases with an initial term of one year or less.