Leases |
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| Leases | Note 7 - Leases Lessor The Company's rental revenue consists of rent earned from the operating leases at the Company's industrial, retail and multifamily properties. The leases at the Company's industrial and retail properties generally includes a fixed base rent, subject to annual step-ups, and a variable component. The variable component of the Company's operating leases primarily consists of the reimbursement of operating expenses such as real estate taxes, insurance, and common area maintenance costs. The following table summarizes the fixed and variable components of the Company's operating leases ($ in thousands):
The following table presents the undiscounted future minimum rents the Company expects to receive for its industrial, retail and multifamily properties as of December 31, 2025 ($ in thousands):
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