Leases (Tables)
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9 Months Ended |
Sep. 30, 2026 |
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| Leases [Abstract] |
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| Schedule of lease income |
The following table includes information regarding contractual lease payments for the Company’s operating leases for which it is the lessor, for the periods presented (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | | | 2026 | | 2025 | | 2026 | | 2025 | | Total lease payments | | $ | 219,744 | | | $ | 187,574 | | | $ | 637,824 | | | $ | 541,661 | | | Less: Operating cost reimbursements, termination income and percentage rents | | 23,882 | | | 21,090 | | | 72,349 | | | 60,831 | | | Total non-variable lease payments | | $ | 195,862 | | | $ | 166,484 | | | $ | 565,475 | | | $ | 480,830 | |
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| Schedule of lease income to be received |
At September 30, 2026, future non-variable lease payments to be received from the Company’s operating leases are as follows (in thousands):
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Year Ending December 31, | | 2026 (remaining) | | 2027 | | 2028 | | 2029 | | 2030 | | Thereafter | | Total | | Future non-variable lease payments | | $ | 201,340 | | | $ | 801,562 | | | $ | 769,232 | | | $ | 716,327 | | | $ | 649,364 | | | $ | 3,408,371 | | | $ | 6,546,196 | |
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| Schedule of lease costs |
The following table includes information on the Company’s land leases for which it is the lessee, for the periods presented (dollars in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | | | 2026 | | 2025 | | 2026 | | 2025 | | Operating leases: | | | | | | | | | | Operating cash outflows | | $ | 459 | | | $ | 454 | | | $ | 1,387 | | | $ | 1,335 | | | Weighted-average remaining lease term - operating leases (years) | | 28.4 | | 29.6 | | 28.4 | | 29.6 | | | | | | | | | | | Finance leases: | | | | | | | | | | Operating cash outflows | | $ | 78 | | | $ | 48 | | | $ | 203 | | | $ | 143 | | | Financing cash outflows | | $ | 10 | | | $ | 3 | | | $ | 43 | | | $ | 8 | | | Weighted-average remaining lease term - finance leases (years) | | 24.3 | | 26.3 | | 24.3 | | 26.3 | | | | | | | | | | | Supplemental Disclosure: | | | | | | | | | | Right of use assets added under new ground leases | | $ | — | | | $ | — | | | $ | 963 | | | $ | 1,767 | | | Right of use assets removed as a result of acquisition of real property | | $ | — | | | $ | — | | | $ | — | | | $ | (2,736) | | | Right of use assets net change | | $ | — | | | $ | — | | | $ | 963 | | | $ | (969) | |
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| Schedule of maturity analysis of lease liabilities for operating land leases |
The following table is a maturity analysis of lease liabilities for operating land leases as of September 30, 2026 (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Year Ending December 31, | | 2026 (remaining) | | 2027 | | 2028 | | 2029 | | 2030 | | Thereafter | | Total | | Lease payments | | $ | 467 | | | $ | 1,919 | | | $ | 1,896 | | | $ | 1,886 | | | $ | 1,651 | | | $ | 27,393 | | | $ | 35,212 | | | Imputed interest | | (213) | | | (819) | | | (763) | | | (705) | | | (647) | | | (12,686) | | | (15,833) | | | Total lease liabilities | | $ | 254 | | | $ | 1,100 | | | $ | 1,133 | | | $ | 1,181 | | | $ | 1,004 | | | $ | 14,707 | | | $ | 19,379 | |
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| Schedule of maturity analysis of lease liabilities for finance land leases |
The following table is a maturity analysis of lease liabilities for finance land leases as of September 30, 2026 (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Year Ending December 31, | | 2026 (remaining) | | 2027 | | 2028 | | 2029 | | 2030 | | Thereafter | | Total | | Lease payments | | $ | 88 | | | $ | 351 | | | $ | 351 | | | $ | 352 | | | $ | 355 | | | $ | 8,955 | | | $ | 10,452 | | | Imputed interest | | (78) | | | (309) | | | (306) | | | (304) | | | (301) | | | (3,966) | | | (5,264) | | | Total lease liabilities | | $ | 10 | | | $ | 42 | | | $ | 45 | | | $ | 48 | | | $ | 54 | | | $ | 4,989 | | | $ | 5,188 | |
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