v3.26.1
Lease Accounting (Tables)
 6 Months Ended
Jun. 30, 2026
Leases [Abstract]  
Schedule of Operating Lease, Lease Income The following table presents the Company’s classification of rental revenue for its operating leases and sales-type lease for the three and six months ended June 30, 2026 and 2025:
Three Months Ended June 30,
Six Months Ended June 30,
Classification 2026202520262025
Fixed$72,847 $72,285 $143,166 $145,175 
Variable(1)
14,294 14,459 28,951 29,462 
Total$87,141 $86,744 $172,117 $174,637 
(1) Primarily comprised of tenant reimbursements.
Schedule of Lessor, Operating Lease, Payments to be Received, Maturity
Future fixed rental receipts for operating leases assuming no new or re-negotiated leases as of June 30, 2026 were as follows:
Operating
2026 - remainder$149,905 
2027285,041 
2028255,060 
2029228,435 
2030178,976 
2031125,582 
Thereafter339,927 
Total$1,562,926 
Schedule of Lease, Cost
Supplemental information related to operating leases is as follows:
Six Months Ended
June 30, 2026June 30, 2025
Weighted-average remaining lease term
Operating leases (years)2.09.0
Weighted-average discount rate
Operating leases4.1 %4.2 %
The components of lease expense for the six months ended June 30, 2026 and 2025 were as follows:
Income Statement Classification FixedVariableTotal
2026:
Property operating$1,622 $— $1,622 
General and administrative(1)
673 89 762 
Total$2,295 $89 $2,384 
2025:
Property operating$1,718 $15 $1,733 
General and administrative954 169 1,123 
Total$2,672 $184 $2,856 
(1) For the six months ended June 30, 2026 and 2025, the general and administrative lease expense excludes a reduction of $223 and $451, respectively, to lease expense for the sublease of the Company's office space in New York, New York, that expired on March 31, 2026.
Schedule of Lessee, Operating Lease, Liability, Maturity
The following table shows the Company's maturity analysis of its operating lease liabilities as of June 30, 2026:
Operating Leases
2026 - remainder$1,967 
20273,775 
20281,163 
2029326 
2030109 
2031— 
Thereafter— 
Total lease payments$7,340 
Less: Imputed interest(331)
Present value of lease liabilities$7,009