v3.26.1
Lease Income
 6 Months Ended
Jun. 30, 2026
Leases [Abstract]  
Lease Income Lease Income
The Operating Partnership is the lessor and the sublessor to tenants under operating and sales-type leases. The minimum rental amounts due under the leases are generally subject to scheduled fixed increases or adjustments. The leases generally also require that the tenants reimburse us for increases in certain operating costs and real estate taxes above their base year costs.
The components of lease income from operating leases in our consolidated statements of operations during the three and six months ended June 30, 2026 and 2025 were as follows (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Fixed lease payments$172,545 $149,038 $339,053 $295,166 
Variable lease payments20,035 17,703 40,917 36,203 
Total lease payments (1)
$192,580 $166,741 $379,970 $331,369 
Amortization of acquired above and below-market leases(698)(1,504)(1,212)(3,113)
Total rental revenue$191,882 $165,237 $378,758 $328,256 
(1)Amounts include $45.8 million and $89.5 million of sublease income for the three and six months ended June 30, 2026, respectively. Amounts include $45.0 million and $91.0 million of sublease income during the three and six months ended June 30, 2025, respectively.
The components of lease income from sales-type leases during the three and six months ended June 30, 2026 and 2025 were as follows (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Interest income (1)
$1,151 $1,138 $2,299 $2,272 
(1)These amounts are included in "Other income" in our consolidated statements of operations.
Lease Income Lease Income
The Operating Partnership is the lessor and the sublessor to tenants under operating and sales-type leases. The minimum rental amounts due under the leases are generally subject to scheduled fixed increases or adjustments. The leases generally also require that the tenants reimburse us for increases in certain operating costs and real estate taxes above their base year costs.
The components of lease income from operating leases in our consolidated statements of operations during the three and six months ended June 30, 2026 and 2025 were as follows (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Fixed lease payments$172,545 $149,038 $339,053 $295,166 
Variable lease payments20,035 17,703 40,917 36,203 
Total lease payments (1)
$192,580 $166,741 $379,970 $331,369 
Amortization of acquired above and below-market leases(698)(1,504)(1,212)(3,113)
Total rental revenue$191,882 $165,237 $378,758 $328,256 
(1)Amounts include $45.8 million and $89.5 million of sublease income for the three and six months ended June 30, 2026, respectively. Amounts include $45.0 million and $91.0 million of sublease income during the three and six months ended June 30, 2025, respectively.
The components of lease income from sales-type leases during the three and six months ended June 30, 2026 and 2025 were as follows (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Interest income (1)
$1,151 $1,138 $2,299 $2,272 
(1)These amounts are included in "Other income" in our consolidated statements of operations.