Land, Buildings and Improvements and Assets Held for Sale (Tables)

6 Months Ended

Jun. 30, 2026

Land and buildings leased to others, which are subject to operating leases, are summarized as follows (in thousands):


	June 30, 2026		December 31, 2025
Land	$	25,573	$	26,946
Buildings and improvements	194,649		191,853
Less: Accumulated depreciation	(65,060)		(62,658)
	$	155,162	$	156,141

Schedule of Operating Lease Income

Lease income related to operating leases recognized and included in the consolidated statements of operations is as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Lease income — fixed	$	5,799	$	20,052	$	12,152	$	40,559
Lease income — variable (a)	559		7,456		1,547		14,341
Total operating lease income	$	6,358	$	27,508	$	13,699	$	54,900

__________

(a)Includes (i) rent increases based on changes in the U.S. Consumer Price Index (CPI) and other comparable indices and (ii) reimbursements for property taxes, insurance, and common area maintenance services.

Schedule of Assets Held for Sale, Net

Below is a summary of our properties held for sale (in thousands):


	June 30, 2026		December 31, 2025
Land, buildings and improvements	$	—	$	101,416
In-place lease intangible assets and other	—		80,067
Above-market rent intangible assets	—		13,323
Accumulated depreciation and amortization	—		(98,537)
Assets held for sale, net	$	—	$	96,269