| Schedule of Segment Reporting Information |
The following table presents Net Income: | | | | | | | | | | | | | | | | | | | Year Ended December 31, | | 2025 | | 2024 | | 2023 | | (in thousands) | | REVENUES: | | | | | | | Rental income | $ | 1,093,587 | | | $ | 1,118,115 | | | $ | 1,117,737 | | | Other property income | 19,080 | | | 17,514 | | | 11,957 | | | Total revenues | 1,112,667 | | | 1,135,629 | | | 1,129,694 | | | EXPENSES: | | | | | | | Property expenses | 243,726 | | | 243,441 | | | 228,964 | | | Real estate taxes | 107,564 | | | 108,951 | | | 105,868 | | | Ground leases | 12,048 | | | 11,715 | | | 9,732 | | | General and administrative expenses | 73,108 | | | 71,074 | | | 94,264 | | | Leasing costs | 10,352 | | | 8,764 | | | 6,506 | | | Depreciation and amortization | 354,854 | | | 356,182 | | | 355,278 | | | Total expenses | 801,652 | | | 800,127 | | | 800,612 | | OTHER INCOME (EXPENSES): | | | | | | Interest income | 6,970 | | | 37,752 | | | 22,592 | | | Interest expense | (126,292) | | | (145,287) | | | (114,216) | | Other income (expense) | 168 | | | (992) | | | 830 | | | Gains on sales of depreciable operating properties | 127,038 | | | — | | | — | | Impairment of real estate assets | (16,259) | | | — | | | — | | | | | | | | | | | | | | Gain on sale of long-lived assets | — | | | 5,979 | | | — | | Total other expenses | (8,375) | | | (102,548) | | | (90,794) | | | NET INCOME | $ | 302,640 | | | $ | 232,954 | | | $ | 238,288 | |
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