Leases (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| Leases [Abstract] |
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| Schedule of Future Minimum Operating Lease Payments Receivable |
Future lease payments under the non-cancelable operating leases, excluding any reimbursements and one sales-type lease, as of June 30, 2026, were as follows: | | | | | | | | | | Dollars in thousands | OPERATING | | | 2026 (remaining) | $ | 392,060 | | | | 2027 | 741,330 | | | | 2028 | 665,382 | | | | 2029 | 571,871 | | | | 2030 | 475,009 | | | | 2031 and thereafter | 1,984,644 | | | | $ | 4,830,296 | | |
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| Schedule of Future Minimum Operating Lease Payments |
The Company’s future lease payments (primarily for its 108 non-prepaid ground leases), excluding amounts due for assets held for sale, as of June 30, 2026, were as follows: | | | | | | | | | | Dollars in thousands | OPERATING | FINANCING | | 2026 (remaining) | $ | 4,573 | | $ | 952 | | | 2027 | 9,225 | | 2,105 | | | 2028 | 9,239 | | 2,137 | | | 2029 | 9,323 | | 2,169 | | | 2030 | 9,466 | | 2,203 | | | 2031 and thereafter | 421,448 | | 379,759 | | | Total undiscounted lease payments | 463,274 | | 389,325 | | | Discount | (301,812) | | (315,226) | | | Lease liabilities | $ | 161,462 | | $ | 74,099 | |
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| Schedule of Future Minimum Financing Lease Payments |
The Company’s future lease payments (primarily for its 108 non-prepaid ground leases), excluding amounts due for assets held for sale, as of June 30, 2026, were as follows: | | | | | | | | | | Dollars in thousands | OPERATING | FINANCING | | 2026 (remaining) | $ | 4,573 | | $ | 952 | | | 2027 | 9,225 | | 2,105 | | | 2028 | 9,239 | | 2,137 | | | 2029 | 9,323 | | 2,169 | | | 2030 | 9,466 | | 2,203 | | | 2031 and thereafter | 421,448 | | 379,759 | | | Total undiscounted lease payments | 463,274 | | 389,325 | | | Discount | (301,812) | | (315,226) | | | Lease liabilities | $ | 161,462 | | $ | 74,099 | |
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| Schedule of Lease Cost |
The following table provides details of the Company's total lease expense for the three and six months ended June 30, 2026 and 2025: | | | | | | | | | | | | | | | | THREE MONTHS ENDED
June 30, | SIX MONTHS ENDED
June 30, | | Dollars in thousands | 2026 | 2025 | 2026 | 2025 | | Operating lease cost | | | | | | Operating lease expense | $ | 2,692 | | $ | 4,397 | | $ | 6,116 | | $ | 8,753 | | | Variable lease expense | 1,774 | | 1,474 | | 3,277 | | 2,802 | | | | | | | | Finance lease cost | | | | | | Amortization of right-of-use assets | 379 | | 370 | | 745 | | 741 | | | Interest on lease liabilities | 934 | | 921 | | 1,861 | | 1,837 | | | Total lease expense | $ | 5,779 | | $ | 7,162 | | $ | 11,999 | | $ | 14,133 | | | | | | | | Other information | | | | | | Operating cash outflows related to operating leases | $ | 3,943 | | $ | 4,529 | | $ | 7,256 | | $ | 9,021 | | | Operating cash outflows related to financing leases | $ | 495 | | $ | 576 | | $ | 849 | | $ | 1,119 | | | Financing cash outflows related to financing leases | $ | 18 | | $ | 5 | | $ | 42 | | $ | 139 | | | | | | | | | | | | | | | | | | Weighted-average years remaining lease term (excluding renewal options) - operating leases | 39.8 | 41.9 | | | | Weighted-average years remaining lease term (excluding renewal options) - finance leases | 56.5 | 57.2 | | | | Weighted-average discount rate - operating leases | 5.6 | % | 5.5 | % | | | | Weighted-average discount rate - finance leases | 5.0 | % | 5.0 | % | | |
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