Leases (Tables)

3 Months Ended

Mar. 31, 2026

Leases [Abstract]

Operating Lease, Lease Income

The following table details the components of operating lease income from the leases of which the Company is the lessor:


		For the Three Months Ended March 31,
		2026				2025
Fixed lease payments		$	33,116			$	10,190
Straight-line rent adjustment			4,114				921
Variable lease payments(1)			3,522				1,529
Amortization of (above)- and below-market leases, net			378				357
Total rental revenue:		$	41,130			$	12,997

(1)

Consists of tenant reimbursements.

Lessee, Operating Lease, Liability, to be Paid, Maturity

The following table presents the undiscounted future minimum rents the Company expects to receive from its net lease properties classified as operating leases as of March 31, 2026:


Year		Future Minimum Rents(1)
2026 (Remaining)		$	100,656
2027			139,114
2028			159,027
2029			163,097
2030			154,848
Thereafter			1,252,262
Total:		$	1,969,004

(1)

Aggregate base rents of $476,193 related to executed leases that have not yet commenced are excluded.