v3.25.3
LEASES (Tables)
 9 Months Ended
Sep. 30, 2025
Leases [Abstract]  
Schedule of Future Minimum Rental Income from Operating Leases
As of September 30, 2025, the future minimum rental income from the Company’s real estate assets under non-cancelable operating leases, assuming no exercise of renewal options for the succeeding five fiscal years and thereafter, was as follows (in thousands):
Future Minimum Rental Income
Remainder of 2025$31,268 
202693,067 
202793,220 
202890,196 
202988,838 
Thereafter589,290 
Total$985,879 
Schedule of Components of Lease Income
Rental and other property income during the three and nine months ended September 30, 2025 and 2024 consisted of the following (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
 2025202420252024
Fixed rental and other property income (1)
$25,141 $21,522 $78,350 $66,110 
Variable rental and other property income (2)
2,297 1,406 7,075 4,954 
Total rental and other property income$27,438 $22,928 $85,425 $71,064 
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(1)Consists primarily of fixed contractual payments from operating leases with tenants recognized on a straight-line basis over the lease term, including amortization of acquired above- and below-market leases, and is net of uncollectible lease-related receivables.
(2)Consists primarily of tenant reimbursements for recoverable real estate taxes and property operating expenses, and percentage rent.