v3.26.1
Leases (Tables)
12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Schedule of Lessee, Operating Lease, Liability, Maturity

The following table summarizes the future minimum lease payments to the Company as the lessor under the operating lease obligations at December 31, 2025 (in thousands). These amounts do not reflect future rental revenues from renewal or replacement of existing leases. Reimbursements of operating expenses and variable rent increases are excluded from the table below.

 

Year:

 

Operating Leases

 

2026

 

$

5,810

 

2027

 

 

5,047

 

2028

 

 

2,832

 

2029

 

 

2,087

 

2030

 

 

1,417

 

Thereafter

 

 

1,995

 

Total

 

$

19,188

 

The future minimum lease payments under the operating lease as of December 31, 2025 are as follows:

Years Ending December 31,

 

Minimum Lease
Payment

 

2026

 

$

208

 

2027

 

 

212

 

2028

 

 

217

 

Total undiscounted lease payments

 

 

637

 

Less: Present Value discount

 

 

(91

)

Total lease liability

 

$

546

 

Schedule of Concentration of Risk, by Risk Factor

The following table lists the tenants where the rental revenue from the tenants represented 10% or more of total rental income in the Company’s Consolidated Statements of Operations and Comprehensive Income (in thousands) for the year ended December 31, 2024:

 

 

 

For the Year Ended December 31, 2024

 

Tenant

 

Rental Income

 

Neiman Marcus Group, LLC

 

$

2,180