v3.26.1
SEGMENT REPORTING (Tables)
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Schedule of Segment Revenue and Significant Segment Expenses
The following table presents information on the Company’s reported segment revenue, net operating income, and significant segment expenses for the six months ended June 30, 2026 and 2025 that are provided to the CODM and included within the Company’s single reportable operating segment measure of profit or loss:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Revenue:
Minimum rent$151,998 $165,965 $305,148 $339,953 
Tenant reimbursements41,756 45,103 86,550 91,316 
Bad debt reserve(1,824)(1,625)(3,346)(3,701)
Other property-related revenue1,033 865 1,831 1,820 
Overage rent1,385 1,738 3,004 2,786 
Total revenue194,348 212,046 393,187 432,174 
Expenses:
Property operating – recoverable24,306 24,849 51,054 50,647 
Property operating – non-recoverable3,820 3,700 7,809 7,361 
Real estate taxes24,315 26,492 48,956 54,096 
Total expenses52,441 55,041 107,819 112,104 
Net operating income141,907 157,005 285,368 320,070 
Other income (expense):
Net gains from outlot sales1,364 — 2,403 — 
Other general and administrative expenses(14,543)(13,390)(28,493)(25,648)
Fee income1,378 853 2,674 1,278 
Impairment charges(980)— (6,868)— 
Depreciation and amortization(81,604)(97,887)(164,095)(196,118)
Interest expense(31,743)(34,052)(63,439)(67,006)
Equity in loss of unconsolidated subsidiaries(1,344)(3,238)(3,560)(3,845)
Income tax expense of taxable REIT subsidiaries(426)(199)(821)(209)
Other income, net3,169 485 5,741 5,228 
Gain on sales of operating properties, net87,727 103,022 87,727 103,113 
Gain on deconsolidation of joint venture60,625 — 60,625 — 
Net income165,530 112,599 177,262 136,863 
Net income attributable to noncontrolling interests(4,226)(2,281)(4,564)(2,815)
Net income attributable to common shareholders$161,304 $110,318 $172,698 $134,048