v3.25.4
SEGMENT REPORTING (Tables)
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
The following table provides the components of Property NOI related to our single reportable segment for the years ended December 31, 2025, 2024 and 2023:
Year Ended December 31,
(Amounts in thousands)202520242023
REVENUE
Property rentals$322,454 $312,674 $291,717 
Tenant expense reimbursements131,329 119,141 104,756 
Total property revenues453,783 431,815 396,473 
EXPENSES
Real estate taxes68,301 70,521 66,756 
Property operating88,893 79,159 68,997 
Lease expense8,244 9,559 11,110 
Total property operating expenses165,438 159,239 146,863 
Property net operating income$288,345 $272,576 $249,610 
Reconciliation of Property NOI to income before income taxes
Depreciation and amortization(139,166)(150,389)(108,979)
Interest and debt expense(78,232)(81,587)(74,945)
General and administrative expense(39,975)(37,474)(37,070)
(Loss) gain on extinguishment of debt(534)21,423 41,144 
Real estate impairment loss— — (34,055)
Interest income1,791 2,192 2,608 
Straight-line rents, amortization of above and below-market leases, and other17,129 11,999 11,610 
Gain on sale of real estate49,695 38,818 217,708 
Other income and expenses(1)
1,058 270 10,045 
Income before income taxes$100,111 $77,828 $277,676 
(1) Includes intercompany eliminations, lease termination income and other income and expenses related to our corporate activities, including the captive insurance program.