Leases |
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| Leases [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Leases | Leases Lessor The Company’s rental revenue primarily consists of rent earned from operating leases at the Company’s multifamily, single-family rental, retail, office and net lease industrial properties. Leases at the Company’s retail, office and industrial properties include a fixed base rent, and a variable rent component that consists of the reimbursement of operating expenses such as real estate taxes, insurance, and common area maintenance costs. Rental revenue earned from leases at the Company’s multifamily and single-family properties primarily consist of a fixed base rent, and certain leases contain a variable component that allows for the pass-through of certain operating expenses such as utilities. The leases at the Company’s net lease retail, office and industrial properties are longer-term and contain extension and termination options at the lessee’s election. The leases do not have material variable payments, material residual value guarantees or material restrictive covenants. Leases at the Company’s multifamily and single-family rental properties are short-term in nature, generally not greater than 12 months in length. The following table details the components of operating lease income ($ in thousands):
The following table presents the Company's expected future minimum rents under operating leases from its retail, office and industrial properties as of June 30, 2026 ($ in thousands):
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