Related Party Transactions |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Related Party Transactions [Abstract] | |
| Related Party Transactions | Related Party Transactions Employment Agreements The Company entered into employment agreements with certain of its executive officers, which became effective January 1, 2025, that provide for various severance and change in control benefits and other terms and conditions of employment. Cost Reimbursements from Unconsolidated Real Estate Entities The Company is reimbursed for certain costs incurred in managing certain of its unconsolidated real estate entities. During the three and six months ended June 30, 2026, the Company recognized $1.1 million and $2.2 million, respectively, of such reimbursement income in management services reimbursement income—unconsolidated real estate entities on the Consolidated Statements of Operations. During the three and six months ended June 30, 2025, the Company recognized $1.1 million and $2.1 million, respectively, of such reimbursement income in management services reimbursement income—unconsolidated real estate entities on the Consolidated Statements of Operations. Related Party Leases The Company’s wholly-owned subsidiary is party to long-term operating lease agreements with an unconsolidated joint venture for office space and fitness and conference facilities. As of June 30, 2026, the Company’s ROU assets and lease liabilities related to these lease obligations were $3.6 million and $3.8 million, respectively, as compared to ROU assets and lease liabilities of $4.2 million and $4.4 million, respectively, as of December 31, 2025. During the three and six months ended June 30, 2026, the Company recognized $0.3 million and $0.5 million of related rental expense related to these leases in management services expense—unconsolidated real estate entities on the Consolidated Statements of Operations. During the three and six months ended June 30, 2025, the Company recognized $0.3 million and $0.5 million, respectively, of related rental expense related to these leases in management services expense—unconsolidated real estate entities on the Consolidated Statements of Operations.
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