v3.26.1
Summary of Significant Accounting Policies (Tables)
6 Months Ended
Jun. 30, 2026
Accounting Policies [Abstract]  
Summary of Estimated Useful Lives

Depreciation of real estate assets, excluding land, is recognized on a straight-line basis over their estimated useful lives which generally range between:

 

Building and building improvements:

25 – 40 years

Land improvements:

0 – 15 years

Tenant improvements:

shorter of the estimated useful life or non-cancelable term of lease

Schedule of Gain on Sale of Real Estate

The following table summarizes the Company’s gain on sale of real estate during the three and six months ended June 30, 2026 and 2025 (in thousands):

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Dispositions to third parties

 

 

 

 

 

 

 

 

 

 

 

 

    Cash proceeds

 

$

8,989

 

 

$

23,000

 

 

$

8,989

 

 

$

52,639

 

    Gain on sale of real estate

 

 

35

 

 

 

1,967

 

 

 

35

 

 

 

8,938