​

​

Three Months Ended June 30,

​

Six Months Ended June 30,

​

​

​

2026

​

2025

​

2026

​

2025

​

​

​

(in thousands)

​

Total revenues

  ​ ​ ​

$

286,486

  ​ ​ ​

$

282,303

​

$

568,415

  ​ ​ ​

$

555,339

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Significant segment-level expenses (income):

​

​

​

​

​

​

​

​

​

​

​

​

​

Property taxes

​

​

32,139

​

​

30,087

​

​

64,173

​

​

60,266

​

Personnel expense

​

​

24,698

​

​

22,404

​

​

46,922

​

​

43,784

​

Advertising

​

​

10,523

​

​

9,986

​

​

16,075

​

​

14,407

​

Repair and maintenance

​

​

4,019

​

​

3,184

​

​

7,102

​

​

6,048

​

Utilities

​

​

5,952

​

​

5,758

​

​

13,137

​

​

12,427

​

Property insurance

​

​

3,923

​

​

3,856

​

​

7,372

​

​

8,029

​

Other property operating expenses

​

​

14,764

​

​

13,753

​

​

31,305

​

​

27,001

​

Total property operating expenses

​

​

96,018

​

​

89,028

​

​

186,086

​

​

171,962

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Depreciation and amortization

​

​

55,839

​

​

66,488

​

​

117,277

​

​

125,644

​

General and administrative

​

​

17,246

​

​

14,897

​

​

34,435

​

​

30,965

​

Interest expense on loans

​

​

30,341

​

​

29,090

​

​

60,172

​

​

55,190

​

Loan procurement amortization expense

​

​

1,099

​

​

1,221

​

​

2,164

​

​

2,442

​

Equity in earnings of real estate ventures

​

​

(556)

​

​

(547)

​

​

(1,163)

​

​

(926)

​

Gain from sale of real estate, net

​

​

(2,503)

​

​

—

​

​

(2,503)

​

​

—

​

Other

​

​

(458)

​

​

(306)

​

​

(263)

​

​

(1,115)

​

Net income

​

$

89,460

​

$

82,432

​

$

172,210

​

$

171,177

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​