v3.26.3
Leases
9 Months Ended
Sep. 30, 2026
Leases [Abstract]  
Leases
4.
Leases

The disaggregation of the Company’s lease income, which is included in rental income on the Company’s consolidated statements of operations, as either fixed or variable lease income, for the three and nine months ended September 30, 2026 and 2025, was as follows (in thousands):

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Rental income:

 

 

 

 

 

 

 

 

 

 

 

 

Fixed lease income(A)

 

$

51,335

 

 

$

35,490

 

 

$

138,656

 

 

$

92,914

 

Variable lease income(B)

 

 

18,287

 

 

 

12,115

 

 

 

49,240

 

 

 

32,708

 

Above-market and below-market leases amortization, net

 

 

1,667

 

 

 

1,211

 

 

 

4,930

 

 

 

3,170

 

Uncollectible revenue

 

 

(421

)

 

 

(350

)

 

 

(1,210

)

 

 

(784

)

Total rental income

 

$

70,868

 

 

$

48,466

 

 

$

191,616

 

 

$

128,008

 

 

(A)
Includes minimum base rents, fixed expense reimbursements, ancillary income and straight-line rent adjustments.
(B)
Includes expense reimbursements, overage rent, lease termination fee income and ancillary income.