v3.26.1
Leases (Tables)
6 Months Ended
Jun. 30, 2026
Leases [Abstract]  
Schedule of Future Contractual Minimum Rent
The following table presents the future contractual minimum rent under the Company’s operating leases as of June 30, 2026 (in thousands):
Year
Contractual Minimum Rent(1)
2026 (six months ending December 31, 2026)$23,887 
202748,761 
202850,011 
202951,295 
203052,208 
Thereafter363,575 
Total$589,737 
(1) Contractual minimum rent includes rent from one property classified as held for sale as June 30, 2026.
Schedule of Tenants in Portfolio that Represents the Largest Percentage of Total Revenue
The following table presents the tenants in the Company's portfolio that represented the largest percentage of the Company's total rental income and fees, excluding revenue reimbursables, for each of the periods presented:
Three Months Ended June 30,
20262025
TenantNumber of LeasesPercentage of Rental IncomeTenantNumber of LeasesPercentage of Rental Income
Curaleaf1026%Curaleaf1023%
Cresco Labs315%Cresco Labs314%
Trulieve 112%Trulieve 111%
C3 Industries28%The Cannabist Company59%
The Cannabist Company48%C3 Industries28%
Six Months Ended June 30,
20262025
TenantNumber of LeasesPercentage of Rental IncomeTenantNumber of LeasesPercentage of Rental Income
Curaleaf1026%Curaleaf1023%
Cresco Labs315%Cresco Labs314%
Trulieve 112%Trulieve 111%
C3 Industries28%The Cannabist Company59%
The Cannabist Company48%C3 Industries28%
The following table presents the states in the Company’s portfolio that represented the largest percentage of the Company’s total rental income and fees, excluding revenue reimbursable, for each of the periods presented:
Three Months Ended June 30,
20262025
StateNumber of Properties
Percentage of Rental Income
StateNumber of Properties
Percentage of Rental Income
Pennsylvania825%Pennsylvania826%
Florida121%Florida119%
Illinois620%Illinois618%
Missouri212%Missouri211%
Massachusetts 59%Massachusetts 511%
Six Months Ended June 30,
20262025
StateNumber of PropertiesPercentage of Rental IncomeStateNumber of PropertiesPercentage of Rental Income
Pennsylvania825%Pennsylvania826%
Florida121%Florida119%
Illinois620%Illinois618%
Missouri212%Missouri211%
Massachusetts 59%Massachusetts 511%
Schedule of Future Contractual Rent Obligations
The following table presents the future contractual rent obligations as lessee as of June 30, 2026 (in thousands):

YearContractual Base Rent
2026 (six months ending December 31, 2026)$39 
202752(1)
Total Future Contractual Lease Payments$91 
Less: Amount Discounted Using Incremental Borrowing Rate$(10)
Total Lease Liability$81 
(1) The lease is scheduled to expire on August 31, 2027. The lease allows for one renewal option of 3 years commencing immediately upon the expiration of the amended term.