| Schedule of Disaggregation of Revenue |
The following table presents the Company's revenues disaggregated by revenue source:
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Year Ended December 31, |
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2025 |
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|
2024 |
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|
2023 |
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Rental revenues |
|
$ |
558,985 |
|
|
$ |
493,876 |
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|
$ |
513,957 |
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Revenues from contracts with customers: |
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|
|
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Operating expense reimbursements (see table below) |
|
|
7,736 |
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|
|
7,964 |
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|
|
7,395 |
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Management, development and leasing fees (1) |
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|
5,114 |
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|
|
7,609 |
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|
|
7,917 |
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Marketing revenues (see table below) |
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|
3,393 |
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|
|
3,000 |
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|
|
3,567 |
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|
|
|
16,243 |
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|
|
18,573 |
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|
|
18,879 |
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|
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|
|
|
|
|
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Other revenues |
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|
3,145 |
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|
|
3,112 |
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|
|
2,450 |
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Total revenues (2) |
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$ |
578,373 |
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|
$ |
515,561 |
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|
$ |
535,286 |
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(1)Included in All Other segment. (2)Sales taxes are excluded from revenues.
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Year Ended December 31, |
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Operating expense reimbursements detail: |
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2025 |
|
|
2024 |
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|
2023 |
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Malls |
|
$ |
6,743 |
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|
$ |
6,585 |
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|
$ |
5,889 |
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Lifestyle Centers |
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|
681 |
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|
|
684 |
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|
|
700 |
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Open-Air Centers |
|
|
333 |
|
|
|
427 |
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|
|
463 |
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All Other |
|
|
(21 |
) |
|
|
268 |
|
|
|
343 |
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|
|
$ |
7,736 |
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|
$ |
7,964 |
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|
$ |
7,395 |
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Year Ended December 31, |
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Marketing revenues detail: |
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2025 |
|
|
2024 |
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|
2023 |
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Malls |
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$ |
3,124 |
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$ |
2,679 |
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|
$ |
3,294 |
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Lifestyle Centers |
|
|
261 |
|
|
|
305 |
|
|
|
262 |
|
Outlet Centers |
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|
8 |
|
|
|
16 |
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|
|
11 |
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|
|
$ |
3,393 |
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|
$ |
3,000 |
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$ |
3,567 |
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| Schedule of Expected Recognition of Remaining Performance Obligation |
As of December 31, 2025, the Company expects to recognize these amounts as revenue over the following periods:
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Performance obligation |
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Less than 5
years |
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5-20
years |
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Over 20
years |
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Total |
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Fixed operating expense reimbursements |
|
$ |
21,666 |
|
|
$ |
47,987 |
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|
$ |
44,170 |
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|
$ |
113,823 |
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