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The Credit Agreement, $ 60 Million Term Loan, $ 100.0 million unsecured guaranteed senior notes (the “$ 100 Million Notes”), $ 125.0 million unsecured guaranteed senior notes (the “$ 125 Million Notes”) and $ 25.0 million unsecured guaranteed senior notes and $ 75.0 million unsecured guaranteed senior notes (together the “Series 2019A and 2019B Notes”) all include a series of financial and other covenants that we must comply with, including the following covenants which are tested on a quarterly basis: | text | 125.0 | monetaryItemType | text: <entity> 125.0 </entity> <entity type> monetaryItemType </entity type> <context> The Credit Agreement, $ 60 Million Term Loan, $ 100.0 million unsecured guaranteed senior notes (the “$ 100 Million Notes”), $ 125.0 million unsecured guaranteed senior notes (the “$ 125 Million Notes”) and $ 25.0 million unsecured guaranteed senior notes and $ 75.0 million unsecured guaranteed senior notes (together the “Series 2019A and 2019B Notes”) all include a series of financial and other covenants that we must comply with, including the following covenants which are tested on a quarterly basis: </context> | us-gaap:DebtInstrumentFaceAmount |
The Credit Agreement, $ 60 Million Term Loan, $ 100.0 million unsecured guaranteed senior notes (the “$ 100 Million Notes”), $ 125.0 million unsecured guaranteed senior notes (the “$ 125 Million Notes”) and $ 25.0 million unsecured guaranteed senior notes and $ 75.0 million unsecured guaranteed senior notes (together the “Series 2019A and 2019B Notes”) all include a series of financial and other covenants that we must comply with, including the following covenants which are tested on a quarterly basis: | text | 125 | monetaryItemType | text: <entity> 125 </entity> <entity type> monetaryItemType </entity type> <context> The Credit Agreement, $ 60 Million Term Loan, $ 100.0 million unsecured guaranteed senior notes (the “$ 100 Million Notes”), $ 125.0 million unsecured guaranteed senior notes (the “$ 125 Million Notes”) and $ 25.0 million unsecured guaranteed senior notes and $ 75.0 million unsecured guaranteed senior notes (together the “Series 2019A and 2019B Notes”) all include a series of financial and other covenants that we must comply with, including the following covenants which are tested on a quarterly basis: </context> | us-gaap:DebtInstrumentFaceAmount |
The Credit Agreement, $ 60 Million Term Loan, $ 100.0 million unsecured guaranteed senior notes (the “$ 100 Million Notes”), $ 125.0 million unsecured guaranteed senior notes (the “$ 125 Million Notes”) and $ 25.0 million unsecured guaranteed senior notes and $ 75.0 million unsecured guaranteed senior notes (together the “Series 2019A and 2019B Notes”) all include a series of financial and other covenants that we must comply with, including the following covenants which are tested on a quarterly basis: | text | 25.0 | monetaryItemType | text: <entity> 25.0 </entity> <entity type> monetaryItemType </entity type> <context> The Credit Agreement, $ 60 Million Term Loan, $ 100.0 million unsecured guaranteed senior notes (the “$ 100 Million Notes”), $ 125.0 million unsecured guaranteed senior notes (the “$ 125 Million Notes”) and $ 25.0 million unsecured guaranteed senior notes and $ 75.0 million unsecured guaranteed senior notes (together the “Series 2019A and 2019B Notes”) all include a series of financial and other covenants that we must comply with, including the following covenants which are tested on a quarterly basis: </context> | us-gaap:DebtInstrumentFaceAmount |
The Credit Agreement, $ 60 Million Term Loan, $ 100.0 million unsecured guaranteed senior notes (the “$ 100 Million Notes”), $ 125.0 million unsecured guaranteed senior notes (the “$ 125 Million Notes”) and $ 25.0 million unsecured guaranteed senior notes and $ 75.0 million unsecured guaranteed senior notes (together the “Series 2019A and 2019B Notes”) all include a series of financial and other covenants that we must comply with, including the following covenants which are tested on a quarterly basis: | text | 75.0 | monetaryItemType | text: <entity> 75.0 </entity> <entity type> monetaryItemType </entity type> <context> The Credit Agreement, $ 60 Million Term Loan, $ 100.0 million unsecured guaranteed senior notes (the “$ 100 Million Notes”), $ 125.0 million unsecured guaranteed senior notes (the “$ 125 Million Notes”) and $ 25.0 million unsecured guaranteed senior notes and $ 75.0 million unsecured guaranteed senior notes (together the “Series 2019A and 2019B Notes”) all include a series of financial and other covenants that we must comply with, including the following covenants which are tested on a quarterly basis: </context> | us-gaap:DebtInstrumentFaceAmount |
For the Credit Agreement and $ 60 Million Term Loan, maintaining a ratio of secured debt to total asset value of not more than 45 %; | text | 60 | monetaryItemType | text: <entity> 60 </entity> <entity type> monetaryItemType </entity type> <context> For the Credit Agreement and $ 60 Million Term Loan, maintaining a ratio of secured debt to total asset value of not more than 45 %; </context> | us-gaap:DebtInstrumentFaceAmount |
For the $ 100 Million Notes, $ 125 Million Notes and Series 2019A and 2019B Notes (together the “Senior Notes”), maintaining a ratio of secured debt to total asset value of not more than 40 %; | text | 100 | monetaryItemType | text: <entity> 100 </entity> <entity type> monetaryItemType </entity type> <context> For the $ 100 Million Notes, $ 125 Million Notes and Series 2019A and 2019B Notes (together the “Senior Notes”), maintaining a ratio of secured debt to total asset value of not more than 40 %; </context> | us-gaap:DebtInstrumentFaceAmount |
For the $ 100 Million Notes, $ 125 Million Notes and Series 2019A and 2019B Notes (together the “Senior Notes”), maintaining a ratio of secured debt to total asset value of not more than 40 %; | text | 125 | monetaryItemType | text: <entity> 125 </entity> <entity type> monetaryItemType </entity type> <context> For the $ 100 Million Notes, $ 125 Million Notes and Series 2019A and 2019B Notes (together the “Senior Notes”), maintaining a ratio of secured debt to total asset value of not more than 40 %; </context> | us-gaap:DebtInstrumentFaceAmount |
The $ 300 Million Notes, $ 400.0 million of 2.125 % Senior Notes due 2030 and $ 400 million of 2.150 % Senior Notes due 2031 (together the “Registered Notes”) contain the following covenants (as defined in the indentures) that we must comply with: | text | 300 | monetaryItemType | text: <entity> 300 </entity> <entity type> monetaryItemType </entity type> <context> The $ 300 Million Notes, $ 400.0 million of 2.125 % Senior Notes due 2030 and $ 400 million of 2.150 % Senior Notes due 2031 (together the “Registered Notes”) contain the following covenants (as defined in the indentures) that we must comply with: </context> | us-gaap:DebtInstrumentCarryingAmount |
The $ 300 Million Notes, $ 400.0 million of 2.125 % Senior Notes due 2030 and $ 400 million of 2.150 % Senior Notes due 2031 (together the “Registered Notes”) contain the following covenants (as defined in the indentures) that we must comply with: | text | 400.0 | monetaryItemType | text: <entity> 400.0 </entity> <entity type> monetaryItemType </entity type> <context> The $ 300 Million Notes, $ 400.0 million of 2.125 % Senior Notes due 2030 and $ 400 million of 2.150 % Senior Notes due 2031 (together the “Registered Notes”) contain the following covenants (as defined in the indentures) that we must comply with: </context> | us-gaap:DebtInstrumentFaceAmount |
The $ 300 Million Notes, $ 400.0 million of 2.125 % Senior Notes due 2030 and $ 400 million of 2.150 % Senior Notes due 2031 (together the “Registered Notes”) contain the following covenants (as defined in the indentures) that we must comply with: | text | 2.125 | percentItemType | text: <entity> 2.125 </entity> <entity type> percentItemType </entity type> <context> The $ 300 Million Notes, $ 400.0 million of 2.125 % Senior Notes due 2030 and $ 400 million of 2.150 % Senior Notes due 2031 (together the “Registered Notes”) contain the following covenants (as defined in the indentures) that we must comply with: </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
The $ 300 Million Notes, $ 400.0 million of 2.125 % Senior Notes due 2030 and $ 400 million of 2.150 % Senior Notes due 2031 (together the “Registered Notes”) contain the following covenants (as defined in the indentures) that we must comply with: | text | 400 | monetaryItemType | text: <entity> 400 </entity> <entity type> monetaryItemType </entity type> <context> The $ 300 Million Notes, $ 400.0 million of 2.125 % Senior Notes due 2030 and $ 400 million of 2.150 % Senior Notes due 2031 (together the “Registered Notes”) contain the following covenants (as defined in the indentures) that we must comply with: </context> | us-gaap:DebtInstrumentFaceAmount |
The $ 300 Million Notes, $ 400.0 million of 2.125 % Senior Notes due 2030 and $ 400 million of 2.150 % Senior Notes due 2031 (together the “Registered Notes”) contain the following covenants (as defined in the indentures) that we must comply with: | text | 2.150 | percentItemType | text: <entity> 2.150 </entity> <entity type> percentItemType </entity type> <context> The $ 300 Million Notes, $ 400.0 million of 2.125 % Senior Notes due 2030 and $ 400 million of 2.150 % Senior Notes due 2031 (together the “Registered Notes”) contain the following covenants (as defined in the indentures) that we must comply with: </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
Subject to the terms of the Credit Agreement, $ 60 million Term Loan, Senior Notes and Registered Notes, upon certain events of default, including, but not limited to, (i) a default in the payment of any principal or interest, (ii) a default in the payment of certain of our other indebtedness, and (iii) a default in compliance with the covenants set forth in the debt agreement, the principal and accrued and unpaid interest on the outstanding debt may be declared immediately due and payable at the option of the administrative agent, lenders, trustee and/or noteholders, as applicable, and in the event of bankruptcy and other insolvency defaults, the principal and accrued and unpaid interest on the outstanding debt will become immediately due and payable. In addition, we are required to maintain at all times a credit rating on the Senior Notes from either Standard and Poor’s Ratings Services (“S&P”), Moody’s Investors Services (“Moody’s”) or Fitch Ratings. Our credit ratings as of December 31, 2024, were BBB+ from S&P, BBB+ from Fitch Ratings and Baa2 from Moody’s. | text | 60 | monetaryItemType | text: <entity> 60 </entity> <entity type> monetaryItemType </entity type> <context> Subject to the terms of the Credit Agreement, $ 60 million Term Loan, Senior Notes and Registered Notes, upon certain events of default, including, but not limited to, (i) a default in the payment of any principal or interest, (ii) a default in the payment of certain of our other indebtedness, and (iii) a default in compliance with the covenants set forth in the debt agreement, the principal and accrued and unpaid interest on the outstanding debt may be declared immediately due and payable at the option of the administrative agent, lenders, trustee and/or noteholders, as applicable, and in the event of bankruptcy and other insolvency defaults, the principal and accrued and unpaid interest on the outstanding debt will become immediately due and payable. In addition, we are required to maintain at all times a credit rating on the Senior Notes from either Standard and Poor’s Ratings Services (“S&P”), Moody’s Investors Services (“Moody’s”) or Fitch Ratings. Our credit ratings as of December 31, 2024, were BBB+ from S&P, BBB+ from Fitch Ratings and Baa2 from Moody’s. </context> | us-gaap:DebtInstrumentFaceAmount |
For the year ended December 31, 2024, we recognized $ 897.9 million of rental income related to operating lease payments, of which $ 739.2 million was for fixed lease payments and $ 158.7 million was for variable lease payments. For the year ended December 31, 2023, we recognized $ 762.1 million of rental income related to operating lease payments, of which $ 626.7 million was for fixed lease payments and $ 135.3 million was for variable lease payments. For the year ended December 31, 2022, we recognized $ 599.2 million of rental income related to operating lease payments of which $ 491.1 million was for fixed lease payments and $ 108.2 million was for variable lease payments. | text | 739.2 | monetaryItemType | text: <entity> 739.2 </entity> <entity type> monetaryItemType </entity type> <context> For the year ended December 31, 2024, we recognized $ 897.9 million of rental income related to operating lease payments, of which $ 739.2 million was for fixed lease payments and $ 158.7 million was for variable lease payments. For the year ended December 31, 2023, we recognized $ 762.1 million of rental income related to operating lease payments, of which $ 626.7 million was for fixed lease payments and $ 135.3 million was for variable lease payments. For the year ended December 31, 2022, we recognized $ 599.2 million of rental income related to operating lease payments of which $ 491.1 million was for fixed lease payments and $ 108.2 million was for variable lease payments. </context> | us-gaap:OperatingLeaseLeaseIncomeLeasePayments |
For the year ended December 31, 2024, we recognized $ 897.9 million of rental income related to operating lease payments, of which $ 739.2 million was for fixed lease payments and $ 158.7 million was for variable lease payments. For the year ended December 31, 2023, we recognized $ 762.1 million of rental income related to operating lease payments, of which $ 626.7 million was for fixed lease payments and $ 135.3 million was for variable lease payments. For the year ended December 31, 2022, we recognized $ 599.2 million of rental income related to operating lease payments of which $ 491.1 million was for fixed lease payments and $ 108.2 million was for variable lease payments. | text | 158.7 | monetaryItemType | text: <entity> 158.7 </entity> <entity type> monetaryItemType </entity type> <context> For the year ended December 31, 2024, we recognized $ 897.9 million of rental income related to operating lease payments, of which $ 739.2 million was for fixed lease payments and $ 158.7 million was for variable lease payments. For the year ended December 31, 2023, we recognized $ 762.1 million of rental income related to operating lease payments, of which $ 626.7 million was for fixed lease payments and $ 135.3 million was for variable lease payments. For the year ended December 31, 2022, we recognized $ 599.2 million of rental income related to operating lease payments of which $ 491.1 million was for fixed lease payments and $ 108.2 million was for variable lease payments. </context> | us-gaap:OperatingLeaseVariableLeaseIncome |
For the year ended December 31, 2024, we recognized $ 897.9 million of rental income related to operating lease payments, of which $ 739.2 million was for fixed lease payments and $ 158.7 million was for variable lease payments. For the year ended December 31, 2023, we recognized $ 762.1 million of rental income related to operating lease payments, of which $ 626.7 million was for fixed lease payments and $ 135.3 million was for variable lease payments. For the year ended December 31, 2022, we recognized $ 599.2 million of rental income related to operating lease payments of which $ 491.1 million was for fixed lease payments and $ 108.2 million was for variable lease payments. | text | 626.7 | monetaryItemType | text: <entity> 626.7 </entity> <entity type> monetaryItemType </entity type> <context> For the year ended December 31, 2024, we recognized $ 897.9 million of rental income related to operating lease payments, of which $ 739.2 million was for fixed lease payments and $ 158.7 million was for variable lease payments. For the year ended December 31, 2023, we recognized $ 762.1 million of rental income related to operating lease payments, of which $ 626.7 million was for fixed lease payments and $ 135.3 million was for variable lease payments. For the year ended December 31, 2022, we recognized $ 599.2 million of rental income related to operating lease payments of which $ 491.1 million was for fixed lease payments and $ 108.2 million was for variable lease payments. </context> | us-gaap:OperatingLeaseLeaseIncomeLeasePayments |
For the year ended December 31, 2024, we recognized $ 897.9 million of rental income related to operating lease payments, of which $ 739.2 million was for fixed lease payments and $ 158.7 million was for variable lease payments. For the year ended December 31, 2023, we recognized $ 762.1 million of rental income related to operating lease payments, of which $ 626.7 million was for fixed lease payments and $ 135.3 million was for variable lease payments. For the year ended December 31, 2022, we recognized $ 599.2 million of rental income related to operating lease payments of which $ 491.1 million was for fixed lease payments and $ 108.2 million was for variable lease payments. | text | 135.3 | monetaryItemType | text: <entity> 135.3 </entity> <entity type> monetaryItemType </entity type> <context> For the year ended December 31, 2024, we recognized $ 897.9 million of rental income related to operating lease payments, of which $ 739.2 million was for fixed lease payments and $ 158.7 million was for variable lease payments. For the year ended December 31, 2023, we recognized $ 762.1 million of rental income related to operating lease payments, of which $ 626.7 million was for fixed lease payments and $ 135.3 million was for variable lease payments. For the year ended December 31, 2022, we recognized $ 599.2 million of rental income related to operating lease payments of which $ 491.1 million was for fixed lease payments and $ 108.2 million was for variable lease payments. </context> | us-gaap:OperatingLeaseVariableLeaseIncome |
For the year ended December 31, 2024, we recognized $ 897.9 million of rental income related to operating lease payments, of which $ 739.2 million was for fixed lease payments and $ 158.7 million was for variable lease payments. For the year ended December 31, 2023, we recognized $ 762.1 million of rental income related to operating lease payments, of which $ 626.7 million was for fixed lease payments and $ 135.3 million was for variable lease payments. For the year ended December 31, 2022, we recognized $ 599.2 million of rental income related to operating lease payments of which $ 491.1 million was for fixed lease payments and $ 108.2 million was for variable lease payments. | text | 491.1 | monetaryItemType | text: <entity> 491.1 </entity> <entity type> monetaryItemType </entity type> <context> For the year ended December 31, 2024, we recognized $ 897.9 million of rental income related to operating lease payments, of which $ 739.2 million was for fixed lease payments and $ 158.7 million was for variable lease payments. For the year ended December 31, 2023, we recognized $ 762.1 million of rental income related to operating lease payments, of which $ 626.7 million was for fixed lease payments and $ 135.3 million was for variable lease payments. For the year ended December 31, 2022, we recognized $ 599.2 million of rental income related to operating lease payments of which $ 491.1 million was for fixed lease payments and $ 108.2 million was for variable lease payments. </context> | us-gaap:OperatingLeaseLeaseIncomeLeasePayments |
For the year ended December 31, 2024, we recognized $ 897.9 million of rental income related to operating lease payments, of which $ 739.2 million was for fixed lease payments and $ 158.7 million was for variable lease payments. For the year ended December 31, 2023, we recognized $ 762.1 million of rental income related to operating lease payments, of which $ 626.7 million was for fixed lease payments and $ 135.3 million was for variable lease payments. For the year ended December 31, 2022, we recognized $ 599.2 million of rental income related to operating lease payments of which $ 491.1 million was for fixed lease payments and $ 108.2 million was for variable lease payments. | text | 108.2 | monetaryItemType | text: <entity> 108.2 </entity> <entity type> monetaryItemType </entity type> <context> For the year ended December 31, 2024, we recognized $ 897.9 million of rental income related to operating lease payments, of which $ 739.2 million was for fixed lease payments and $ 158.7 million was for variable lease payments. For the year ended December 31, 2023, we recognized $ 762.1 million of rental income related to operating lease payments, of which $ 626.7 million was for fixed lease payments and $ 135.3 million was for variable lease payments. For the year ended December 31, 2022, we recognized $ 599.2 million of rental income related to operating lease payments of which $ 491.1 million was for fixed lease payments and $ 108.2 million was for variable lease payments. </context> | us-gaap:OperatingLeaseVariableLeaseIncome |
As of December 31, 2024, total ROU assets and lease liabilities were approximately $ 7.9 million and $ 9.7 million, respectively. As of December 31, 2023, total ROU assets and lease liabilities were approximately $ 7.0 million and $ 8.9 million, respectively. | text | 7.9 | monetaryItemType | text: <entity> 7.9 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024, total ROU assets and lease liabilities were approximately $ 7.9 million and $ 9.7 million, respectively. As of December 31, 2023, total ROU assets and lease liabilities were approximately $ 7.0 million and $ 8.9 million, respectively. </context> | us-gaap:OperatingLeaseRightOfUseAsset |
As of December 31, 2024, total ROU assets and lease liabilities were approximately $ 7.9 million and $ 9.7 million, respectively. As of December 31, 2023, total ROU assets and lease liabilities were approximately $ 7.0 million and $ 8.9 million, respectively. | text | 9.7 | monetaryItemType | text: <entity> 9.7 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024, total ROU assets and lease liabilities were approximately $ 7.9 million and $ 9.7 million, respectively. As of December 31, 2023, total ROU assets and lease liabilities were approximately $ 7.0 million and $ 8.9 million, respectively. </context> | us-gaap:OperatingLeaseLiability |
As of December 31, 2024, total ROU assets and lease liabilities were approximately $ 7.9 million and $ 9.7 million, respectively. As of December 31, 2023, total ROU assets and lease liabilities were approximately $ 7.0 million and $ 8.9 million, respectively. | text | 7.0 | monetaryItemType | text: <entity> 7.0 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024, total ROU assets and lease liabilities were approximately $ 7.9 million and $ 9.7 million, respectively. As of December 31, 2023, total ROU assets and lease liabilities were approximately $ 7.0 million and $ 8.9 million, respectively. </context> | us-gaap:OperatingLeaseRightOfUseAsset |
As of December 31, 2024, total ROU assets and lease liabilities were approximately $ 7.9 million and $ 9.7 million, respectively. As of December 31, 2023, total ROU assets and lease liabilities were approximately $ 7.0 million and $ 8.9 million, respectively. | text | 8.9 | monetaryItemType | text: <entity> 8.9 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024, total ROU assets and lease liabilities were approximately $ 7.9 million and $ 9.7 million, respectively. As of December 31, 2023, total ROU assets and lease liabilities were approximately $ 7.0 million and $ 8.9 million, respectively. </context> | us-gaap:OperatingLeaseLiability |
On March 28, 2023, in connection with the issuance of the $ 300 Million Notes, we executed three treasury rate lock agreements with a combined notional amount of $ 250.0 million to lock the interest rate of the five-year treasury at 3.64313 % (the “T-Locks”). On March 29, 2023, we paid $ 0.2 million to settle the T-Locks, which were designated as a cash flow hedges. The settlement value is included in the balance of AOCI and will be amortized into interest expense on a straight-line basis over the 5-year term of the $ 300 Million Notes. | text | 300 | monetaryItemType | text: <entity> 300 </entity> <entity type> monetaryItemType </entity type> <context> On March 28, 2023, in connection with the issuance of the $ 300 Million Notes, we executed three treasury rate lock agreements with a combined notional amount of $ 250.0 million to lock the interest rate of the five-year treasury at 3.64313 % (the “T-Locks”). On March 29, 2023, we paid $ 0.2 million to settle the T-Locks, which were designated as a cash flow hedges. The settlement value is included in the balance of AOCI and will be amortized into interest expense on a straight-line basis over the 5-year term of the $ 300 Million Notes. </context> | us-gaap:DebtInstrumentCarryingAmount |
On March 28, 2023, in connection with the issuance of the $ 300 Million Notes, we executed three treasury rate lock agreements with a combined notional amount of $ 250.0 million to lock the interest rate of the five-year treasury at 3.64313 % (the “T-Locks”). On March 29, 2023, we paid $ 0.2 million to settle the T-Locks, which were designated as a cash flow hedges. The settlement value is included in the balance of AOCI and will be amortized into interest expense on a straight-line basis over the 5-year term of the $ 300 Million Notes. | text | 250.0 | monetaryItemType | text: <entity> 250.0 </entity> <entity type> monetaryItemType </entity type> <context> On March 28, 2023, in connection with the issuance of the $ 300 Million Notes, we executed three treasury rate lock agreements with a combined notional amount of $ 250.0 million to lock the interest rate of the five-year treasury at 3.64313 % (the “T-Locks”). On March 29, 2023, we paid $ 0.2 million to settle the T-Locks, which were designated as a cash flow hedges. The settlement value is included in the balance of AOCI and will be amortized into interest expense on a straight-line basis over the 5-year term of the $ 300 Million Notes. </context> | us-gaap:DerivativeNotionalAmount |
On March 28, 2023, in connection with the issuance of the $ 300 Million Notes, we executed three treasury rate lock agreements with a combined notional amount of $ 250.0 million to lock the interest rate of the five-year treasury at 3.64313 % (the “T-Locks”). On March 29, 2023, we paid $ 0.2 million to settle the T-Locks, which were designated as a cash flow hedges. The settlement value is included in the balance of AOCI and will be amortized into interest expense on a straight-line basis over the 5-year term of the $ 300 Million Notes. | text | 3.64313 | percentItemType | text: <entity> 3.64313 </entity> <entity type> percentItemType </entity type> <context> On March 28, 2023, in connection with the issuance of the $ 300 Million Notes, we executed three treasury rate lock agreements with a combined notional amount of $ 250.0 million to lock the interest rate of the five-year treasury at 3.64313 % (the “T-Locks”). On March 29, 2023, we paid $ 0.2 million to settle the T-Locks, which were designated as a cash flow hedges. The settlement value is included in the balance of AOCI and will be amortized into interest expense on a straight-line basis over the 5-year term of the $ 300 Million Notes. </context> | us-gaap:DerivativeAverageFixedInterestRate |
On March 21, 2023, we executed four forward starting interest rate swap transactions with an aggregate notional value of $ 400.0 million to manage our exposure to changes in daily SOFR related to a portion of our variable-rate debt. These swaps, which became effective on April 3, 2023 and mature on June 30, 2025, fix daily SOFR at a weighted average rate of 3.97231 %. In addition, we also executed an interest rate swap transaction with a notional value of $ 60.0 million to manage our exposure to changes in Term SOFR related to a portion of our variable-rate debt. This swap, which became effective on April 3, 2023 and matures on July 30, 2026, fixes Term SOFR at a rate of 3.71 %. We have designated these interest rate swaps as cash flow hedges. | text | four | integerItemType | text: <entity> four </entity> <entity type> integerItemType </entity type> <context> On March 21, 2023, we executed four forward starting interest rate swap transactions with an aggregate notional value of $ 400.0 million to manage our exposure to changes in daily SOFR related to a portion of our variable-rate debt. These swaps, which became effective on April 3, 2023 and mature on June 30, 2025, fix daily SOFR at a weighted average rate of 3.97231 %. In addition, we also executed an interest rate swap transaction with a notional value of $ 60.0 million to manage our exposure to changes in Term SOFR related to a portion of our variable-rate debt. This swap, which became effective on April 3, 2023 and matures on July 30, 2026, fixes Term SOFR at a rate of 3.71 %. We have designated these interest rate swaps as cash flow hedges. </context> | us-gaap:DerivativeNumberOfInstrumentsHeld |
On March 21, 2023, we executed four forward starting interest rate swap transactions with an aggregate notional value of $ 400.0 million to manage our exposure to changes in daily SOFR related to a portion of our variable-rate debt. These swaps, which became effective on April 3, 2023 and mature on June 30, 2025, fix daily SOFR at a weighted average rate of 3.97231 %. In addition, we also executed an interest rate swap transaction with a notional value of $ 60.0 million to manage our exposure to changes in Term SOFR related to a portion of our variable-rate debt. This swap, which became effective on April 3, 2023 and matures on July 30, 2026, fixes Term SOFR at a rate of 3.71 %. We have designated these interest rate swaps as cash flow hedges. | text | 400.0 | monetaryItemType | text: <entity> 400.0 </entity> <entity type> monetaryItemType </entity type> <context> On March 21, 2023, we executed four forward starting interest rate swap transactions with an aggregate notional value of $ 400.0 million to manage our exposure to changes in daily SOFR related to a portion of our variable-rate debt. These swaps, which became effective on April 3, 2023 and mature on June 30, 2025, fix daily SOFR at a weighted average rate of 3.97231 %. In addition, we also executed an interest rate swap transaction with a notional value of $ 60.0 million to manage our exposure to changes in Term SOFR related to a portion of our variable-rate debt. This swap, which became effective on April 3, 2023 and matures on July 30, 2026, fixes Term SOFR at a rate of 3.71 %. We have designated these interest rate swaps as cash flow hedges. </context> | us-gaap:DerivativeNotionalAmount |
On March 21, 2023, we executed four forward starting interest rate swap transactions with an aggregate notional value of $ 400.0 million to manage our exposure to changes in daily SOFR related to a portion of our variable-rate debt. These swaps, which became effective on April 3, 2023 and mature on June 30, 2025, fix daily SOFR at a weighted average rate of 3.97231 %. In addition, we also executed an interest rate swap transaction with a notional value of $ 60.0 million to manage our exposure to changes in Term SOFR related to a portion of our variable-rate debt. This swap, which became effective on April 3, 2023 and matures on July 30, 2026, fixes Term SOFR at a rate of 3.71 %. We have designated these interest rate swaps as cash flow hedges. | text | 3.97231 | percentItemType | text: <entity> 3.97231 </entity> <entity type> percentItemType </entity type> <context> On March 21, 2023, we executed four forward starting interest rate swap transactions with an aggregate notional value of $ 400.0 million to manage our exposure to changes in daily SOFR related to a portion of our variable-rate debt. These swaps, which became effective on April 3, 2023 and mature on June 30, 2025, fix daily SOFR at a weighted average rate of 3.97231 %. In addition, we also executed an interest rate swap transaction with a notional value of $ 60.0 million to manage our exposure to changes in Term SOFR related to a portion of our variable-rate debt. This swap, which became effective on April 3, 2023 and matures on July 30, 2026, fixes Term SOFR at a rate of 3.71 %. We have designated these interest rate swaps as cash flow hedges. </context> | us-gaap:DerivativeAverageFixedInterestRate |
On March 21, 2023, we executed four forward starting interest rate swap transactions with an aggregate notional value of $ 400.0 million to manage our exposure to changes in daily SOFR related to a portion of our variable-rate debt. These swaps, which became effective on April 3, 2023 and mature on June 30, 2025, fix daily SOFR at a weighted average rate of 3.97231 %. In addition, we also executed an interest rate swap transaction with a notional value of $ 60.0 million to manage our exposure to changes in Term SOFR related to a portion of our variable-rate debt. This swap, which became effective on April 3, 2023 and matures on July 30, 2026, fixes Term SOFR at a rate of 3.71 %. We have designated these interest rate swaps as cash flow hedges. | text | 60.0 | monetaryItemType | text: <entity> 60.0 </entity> <entity type> monetaryItemType </entity type> <context> On March 21, 2023, we executed four forward starting interest rate swap transactions with an aggregate notional value of $ 400.0 million to manage our exposure to changes in daily SOFR related to a portion of our variable-rate debt. These swaps, which became effective on April 3, 2023 and mature on June 30, 2025, fix daily SOFR at a weighted average rate of 3.97231 %. In addition, we also executed an interest rate swap transaction with a notional value of $ 60.0 million to manage our exposure to changes in Term SOFR related to a portion of our variable-rate debt. This swap, which became effective on April 3, 2023 and matures on July 30, 2026, fixes Term SOFR at a rate of 3.71 %. We have designated these interest rate swaps as cash flow hedges. </context> | us-gaap:DerivativeNotionalAmount |
On March 21, 2023, we executed four forward starting interest rate swap transactions with an aggregate notional value of $ 400.0 million to manage our exposure to changes in daily SOFR related to a portion of our variable-rate debt. These swaps, which became effective on April 3, 2023 and mature on June 30, 2025, fix daily SOFR at a weighted average rate of 3.97231 %. In addition, we also executed an interest rate swap transaction with a notional value of $ 60.0 million to manage our exposure to changes in Term SOFR related to a portion of our variable-rate debt. This swap, which became effective on April 3, 2023 and matures on July 30, 2026, fixes Term SOFR at a rate of 3.71 %. We have designated these interest rate swaps as cash flow hedges. | text | 3.71 | percentItemType | text: <entity> 3.71 </entity> <entity type> percentItemType </entity type> <context> On March 21, 2023, we executed four forward starting interest rate swap transactions with an aggregate notional value of $ 400.0 million to manage our exposure to changes in daily SOFR related to a portion of our variable-rate debt. These swaps, which became effective on April 3, 2023 and mature on June 30, 2025, fix daily SOFR at a weighted average rate of 3.97231 %. In addition, we also executed an interest rate swap transaction with a notional value of $ 60.0 million to manage our exposure to changes in Term SOFR related to a portion of our variable-rate debt. This swap, which became effective on April 3, 2023 and matures on July 30, 2026, fixes Term SOFR at a rate of 3.71 %. We have designated these interest rate swaps as cash flow hedges. </context> | us-gaap:DerivativeAverageFixedInterestRate |
On July 21, 2022, we executed five interest rate swap transactions with an aggregate notional value of $ 300.0 million to manage our exposure to changes in Term SOFR related to a portion of our variable-rate debt. These swaps, which became effective commencing on July 27, 2022 and mature on May 26, 2027, currently fix Term SOFR at a weighted average rate of 2.81725 %. We have designated these interest rate swaps as cash flow hedges. | text | five | integerItemType | text: <entity> five </entity> <entity type> integerItemType </entity type> <context> On July 21, 2022, we executed five interest rate swap transactions with an aggregate notional value of $ 300.0 million to manage our exposure to changes in Term SOFR related to a portion of our variable-rate debt. These swaps, which became effective commencing on July 27, 2022 and mature on May 26, 2027, currently fix Term SOFR at a weighted average rate of 2.81725 %. We have designated these interest rate swaps as cash flow hedges. </context> | us-gaap:DerivativeNumberOfInstrumentsHeld |
On July 21, 2022, we executed five interest rate swap transactions with an aggregate notional value of $ 300.0 million to manage our exposure to changes in Term SOFR related to a portion of our variable-rate debt. These swaps, which became effective commencing on July 27, 2022 and mature on May 26, 2027, currently fix Term SOFR at a weighted average rate of 2.81725 %. We have designated these interest rate swaps as cash flow hedges. | text | 300.0 | monetaryItemType | text: <entity> 300.0 </entity> <entity type> monetaryItemType </entity type> <context> On July 21, 2022, we executed five interest rate swap transactions with an aggregate notional value of $ 300.0 million to manage our exposure to changes in Term SOFR related to a portion of our variable-rate debt. These swaps, which became effective commencing on July 27, 2022 and mature on May 26, 2027, currently fix Term SOFR at a weighted average rate of 2.81725 %. We have designated these interest rate swaps as cash flow hedges. </context> | us-gaap:DerivativeNotionalAmount |
On July 21, 2022, we executed five interest rate swap transactions with an aggregate notional value of $ 300.0 million to manage our exposure to changes in Term SOFR related to a portion of our variable-rate debt. These swaps, which became effective commencing on July 27, 2022 and mature on May 26, 2027, currently fix Term SOFR at a weighted average rate of 2.81725 %. We have designated these interest rate swaps as cash flow hedges. | text | 2.81725 | percentItemType | text: <entity> 2.81725 </entity> <entity type> percentItemType </entity type> <context> On July 21, 2022, we executed five interest rate swap transactions with an aggregate notional value of $ 300.0 million to manage our exposure to changes in Term SOFR related to a portion of our variable-rate debt. These swaps, which became effective commencing on July 27, 2022 and mature on May 26, 2027, currently fix Term SOFR at a weighted average rate of 2.81725 %. We have designated these interest rate swaps as cash flow hedges. </context> | us-gaap:DerivativeAverageFixedInterestRate |
On May 26, 2022, in conjunction with the repayment of the $ 150 Million Term Loan, we paid $ 0.6 million to terminate the interest rate swap that was used to hedge the monthly cash flows associated with $ 150.0 million of LIBOR-based variable-rate debt, and which had an unrealized loss balance of $ 0.6 million in AOCI at the time of termination. We are amortizing the loss on this transaction from AOCI into interest expense on a straight-line basis over the period beginning from the termination date of the interest rate swap (May 26, 2022) through the original maturity date of the interest rate swap (November 22, 2024). | text | 150 | monetaryItemType | text: <entity> 150 </entity> <entity type> monetaryItemType </entity type> <context> On May 26, 2022, in conjunction with the repayment of the $ 150 Million Term Loan, we paid $ 0.6 million to terminate the interest rate swap that was used to hedge the monthly cash flows associated with $ 150.0 million of LIBOR-based variable-rate debt, and which had an unrealized loss balance of $ 0.6 million in AOCI at the time of termination. We are amortizing the loss on this transaction from AOCI into interest expense on a straight-line basis over the period beginning from the termination date of the interest rate swap (May 26, 2022) through the original maturity date of the interest rate swap (November 22, 2024). </context> | us-gaap:DebtInstrumentCarryingAmount |
On May 26, 2022, in conjunction with the repayment of the $ 150 Million Term Loan, we paid $ 0.6 million to terminate the interest rate swap that was used to hedge the monthly cash flows associated with $ 150.0 million of LIBOR-based variable-rate debt, and which had an unrealized loss balance of $ 0.6 million in AOCI at the time of termination. We are amortizing the loss on this transaction from AOCI into interest expense on a straight-line basis over the period beginning from the termination date of the interest rate swap (May 26, 2022) through the original maturity date of the interest rate swap (November 22, 2024). | text | 150.0 | monetaryItemType | text: <entity> 150.0 </entity> <entity type> monetaryItemType </entity type> <context> On May 26, 2022, in conjunction with the repayment of the $ 150 Million Term Loan, we paid $ 0.6 million to terminate the interest rate swap that was used to hedge the monthly cash flows associated with $ 150.0 million of LIBOR-based variable-rate debt, and which had an unrealized loss balance of $ 0.6 million in AOCI at the time of termination. We are amortizing the loss on this transaction from AOCI into interest expense on a straight-line basis over the period beginning from the termination date of the interest rate swap (May 26, 2022) through the original maturity date of the interest rate swap (November 22, 2024). </context> | us-gaap:DebtInstrumentCarryingAmount |
On May 26, 2022, in conjunction with the repayment of the $ 150 Million Term Loan, we paid $ 0.6 million to terminate the interest rate swap that was used to hedge the monthly cash flows associated with $ 150.0 million of LIBOR-based variable-rate debt, and which had an unrealized loss balance of $ 0.6 million in AOCI at the time of termination. We are amortizing the loss on this transaction from AOCI into interest expense on a straight-line basis over the period beginning from the termination date of the interest rate swap (May 26, 2022) through the original maturity date of the interest rate swap (November 22, 2024). | text | 0.6 | monetaryItemType | text: <entity> 0.6 </entity> <entity type> monetaryItemType </entity type> <context> On May 26, 2022, in conjunction with the repayment of the $ 150 Million Term Loan, we paid $ 0.6 million to terminate the interest rate swap that was used to hedge the monthly cash flows associated with $ 150.0 million of LIBOR-based variable-rate debt, and which had an unrealized loss balance of $ 0.6 million in AOCI at the time of termination. We are amortizing the loss on this transaction from AOCI into interest expense on a straight-line basis over the period beginning from the termination date of the interest rate swap (May 26, 2022) through the original maturity date of the interest rate swap (November 22, 2024). </context> | us-gaap:AccumulatedOtherComprehensiveIncomeLossNetOfTax |
As of December 31, 2024, we estimate that approximately $ 4.2 million of net unrealized gains will be reclassified from AOCI into earnings as a net decrease to interest expense over the next twelve months. | text | 4.2 | monetaryItemType | text: <entity> 4.2 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024, we estimate that approximately $ 4.2 million of net unrealized gains will be reclassified from AOCI into earnings as a net decrease to interest expense over the next twelve months. </context> | us-gaap:InterestRateCashFlowHedgeGainLossToBeReclassifiedDuringNext12MonthsNet |
We engage in transactions with Howard Schwimmer, our Co-Chief Executive Officer, earning management fees and leasing commissions from entities controlled individually by Mr. Schwimmer. Fees and commissions earned from these entities are included in “Management and leasing services” in the consolidated statements of operations. We recorded $ 0.6 million, $ 0.7 million and $ 0.6 million during the years ended December 31, 2024, 2023 and 2022, respectively, in management and leasing services revenue. | text | 0.6 | monetaryItemType | text: <entity> 0.6 </entity> <entity type> monetaryItemType </entity type> <context> We engage in transactions with Howard Schwimmer, our Co-Chief Executive Officer, earning management fees and leasing commissions from entities controlled individually by Mr. Schwimmer. Fees and commissions earned from these entities are included in “Management and leasing services” in the consolidated statements of operations. We recorded $ 0.6 million, $ 0.7 million and $ 0.6 million during the years ended December 31, 2024, 2023 and 2022, respectively, in management and leasing services revenue. </context> | us-gaap:Revenues |
We engage in transactions with Howard Schwimmer, our Co-Chief Executive Officer, earning management fees and leasing commissions from entities controlled individually by Mr. Schwimmer. Fees and commissions earned from these entities are included in “Management and leasing services” in the consolidated statements of operations. We recorded $ 0.6 million, $ 0.7 million and $ 0.6 million during the years ended December 31, 2024, 2023 and 2022, respectively, in management and leasing services revenue. | text | 0.7 | monetaryItemType | text: <entity> 0.7 </entity> <entity type> monetaryItemType </entity type> <context> We engage in transactions with Howard Schwimmer, our Co-Chief Executive Officer, earning management fees and leasing commissions from entities controlled individually by Mr. Schwimmer. Fees and commissions earned from these entities are included in “Management and leasing services” in the consolidated statements of operations. We recorded $ 0.6 million, $ 0.7 million and $ 0.6 million during the years ended December 31, 2024, 2023 and 2022, respectively, in management and leasing services revenue. </context> | us-gaap:Revenues |
As of December 31, 2024, we had commitments of approximately $ 129.2 million for tenant improvement and construction work under the terms of leases with certain of our tenants and contractual agreements with our construction vendors. | text | 129.2 | monetaryItemType | text: <entity> 129.2 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024, we had commitments of approximately $ 129.2 million for tenant improvement and construction work under the terms of leases with certain of our tenants and contractual agreements with our construction vendors. </context> | us-gaap:OtherCommitment |
We have the right to issue letters of credit under the Revolver up to an aggregate amount not to exceed $ 100.0 million, which reduces the credit availability under the Revolver. As of December 31, 2024, we had a $ 5.0 million letter of credit outstanding, which was originally issued on May 31, 2024, to capitalize a new wholly-owned captive insurance subsidiary through which we indirectly manage a portion of our earthquake insurance. | text | 5.0 | monetaryItemType | text: <entity> 5.0 </entity> <entity type> monetaryItemType </entity type> <context> We have the right to issue letters of credit under the Revolver up to an aggregate amount not to exceed $ 100.0 million, which reduces the credit availability under the Revolver. As of December 31, 2024, we had a $ 5.0 million letter of credit outstanding, which was originally issued on May 31, 2024, to capitalize a new wholly-owned captive insurance subsidiary through which we indirectly manage a portion of our earthquake insurance. </context> | us-gaap:LettersOfCreditOutstandingAmount |
We have deposited cash with financial institutions that are insured by the Federal Deposit Insurance Corporation up to $ 250,000 per institution. Although from time to time we have deposits at institutions in excess of federally insured limits, we do not believe we are exposed to significant credit risk due to the financial position and high credit quality of the institutions in which those deposits are held. | text | 250000 | monetaryItemType | text: <entity> 250000 </entity> <entity type> monetaryItemType </entity type> <context> We have deposited cash with financial institutions that are insured by the Federal Deposit Insurance Corporation up to $ 250,000 per institution. Although from time to time we have deposits at institutions in excess of federally insured limits, we do not believe we are exposed to significant credit risk due to the financial position and high credit quality of the institutions in which those deposits are held. </context> | us-gaap:CashFDICInsuredAmount |
Dividends on our Preferred Stock are cumulative and payable quarterly in arrears on or about the last day of March, June, September and December of each year. Our Preferred Stock has no stated maturity dates and is not subject to mandatory redemption or any sinking funds. The holders of our Preferred Stock rank senior to the holders of our common stock with respect to dividend rights and rights upon the Company’s liquidation, dissolution or winding up of its affairs. The holders of our Preferred Stock generally have no voting rights except for limited voting rights if we fail to pay dividends for six or more quarterly dividend periods (whether or not consecutive). Upon the occurrence of a specified change of control transaction, we may, at our option, redeem each series of Preferred Stock in whole or in part within 120 days after the change of control occurred, by paying $ 25.00 per share in cash, plus any accrued and unpaid distributions through the date of redemption. If we do not exercise our right to redeem the Preferred Stock, upon the occurrence of a specified change of control transaction, the holders of our Preferred Stock have the right to convert some or all of their shares into a number of the Company’s common shares equivalent to $ 25.00 plus accrued and unpaid dividends, divided by the average closing price per share of the Company’s common stock for the 10 trading days preceding the date of the change of control, but not to exceed a certain capped number of shares of common stock per share of Preferred Stock, subject to certain adjustments. | text | 25.00 | perShareItemType | text: <entity> 25.00 </entity> <entity type> perShareItemType </entity type> <context> Dividends on our Preferred Stock are cumulative and payable quarterly in arrears on or about the last day of March, June, September and December of each year. Our Preferred Stock has no stated maturity dates and is not subject to mandatory redemption or any sinking funds. The holders of our Preferred Stock rank senior to the holders of our common stock with respect to dividend rights and rights upon the Company’s liquidation, dissolution or winding up of its affairs. The holders of our Preferred Stock generally have no voting rights except for limited voting rights if we fail to pay dividends for six or more quarterly dividend periods (whether or not consecutive). Upon the occurrence of a specified change of control transaction, we may, at our option, redeem each series of Preferred Stock in whole or in part within 120 days after the change of control occurred, by paying $ 25.00 per share in cash, plus any accrued and unpaid distributions through the date of redemption. If we do not exercise our right to redeem the Preferred Stock, upon the occurrence of a specified change of control transaction, the holders of our Preferred Stock have the right to convert some or all of their shares into a number of the Company’s common shares equivalent to $ 25.00 plus accrued and unpaid dividends, divided by the average closing price per share of the Company’s common stock for the 10 trading days preceding the date of the change of control, but not to exceed a certain capped number of shares of common stock per share of Preferred Stock, subject to certain adjustments. </context> | us-gaap:PreferredStockLiquidationPreference |
During the year ended December 31, 2024, we did not sell any shares of common stock directly through sales agents under the 2023 ATM programs. During the year ended December 31, 2023, we sold 449,227 shares of common stock directly through sales agents under the 2023 ATM Program at a weighted average price of $ 60.84 per share, for gross proceeds of $ 27.3 million, and net proceeds of $ 27.0 million, after deducting the sales agents’ fees. During the year ended December 31, 2022, we did not sell any shares of common stock directly through sales agents under our ATM programs. | text | not | sharesItemType | text: <entity> not </entity> <entity type> sharesItemType </entity type> <context> During the year ended December 31, 2024, we did not sell any shares of common stock directly through sales agents under the 2023 ATM programs. During the year ended December 31, 2023, we sold 449,227 shares of common stock directly through sales agents under the 2023 ATM Program at a weighted average price of $ 60.84 per share, for gross proceeds of $ 27.3 million, and net proceeds of $ 27.0 million, after deducting the sales agents’ fees. During the year ended December 31, 2022, we did not sell any shares of common stock directly through sales agents under our ATM programs. </context> | us-gaap:StockIssuedDuringPeriodSharesNewIssues |
During the year ended December 31, 2024, we did not sell any shares of common stock directly through sales agents under the 2023 ATM programs. During the year ended December 31, 2023, we sold 449,227 shares of common stock directly through sales agents under the 2023 ATM Program at a weighted average price of $ 60.84 per share, for gross proceeds of $ 27.3 million, and net proceeds of $ 27.0 million, after deducting the sales agents’ fees. During the year ended December 31, 2022, we did not sell any shares of common stock directly through sales agents under our ATM programs. | text | 449227 | sharesItemType | text: <entity> 449227 </entity> <entity type> sharesItemType </entity type> <context> During the year ended December 31, 2024, we did not sell any shares of common stock directly through sales agents under the 2023 ATM programs. During the year ended December 31, 2023, we sold 449,227 shares of common stock directly through sales agents under the 2023 ATM Program at a weighted average price of $ 60.84 per share, for gross proceeds of $ 27.3 million, and net proceeds of $ 27.0 million, after deducting the sales agents’ fees. During the year ended December 31, 2022, we did not sell any shares of common stock directly through sales agents under our ATM programs. </context> | us-gaap:StockIssuedDuringPeriodSharesNewIssues |
During the year ended December 31, 2024, we did not sell any shares of common stock directly through sales agents under the 2023 ATM programs. During the year ended December 31, 2023, we sold 449,227 shares of common stock directly through sales agents under the 2023 ATM Program at a weighted average price of $ 60.84 per share, for gross proceeds of $ 27.3 million, and net proceeds of $ 27.0 million, after deducting the sales agents’ fees. During the year ended December 31, 2022, we did not sell any shares of common stock directly through sales agents under our ATM programs. | text | 60.84 | perShareItemType | text: <entity> 60.84 </entity> <entity type> perShareItemType </entity type> <context> During the year ended December 31, 2024, we did not sell any shares of common stock directly through sales agents under the 2023 ATM programs. During the year ended December 31, 2023, we sold 449,227 shares of common stock directly through sales agents under the 2023 ATM Program at a weighted average price of $ 60.84 per share, for gross proceeds of $ 27.3 million, and net proceeds of $ 27.0 million, after deducting the sales agents’ fees. During the year ended December 31, 2022, we did not sell any shares of common stock directly through sales agents under our ATM programs. </context> | us-gaap:SharesIssuedPricePerShare |
During the year ended December 31, 2024, we physically settled the forward equity sale agreements that were outstanding as of December 31, 2023 under the 2023 ATM Program by issuing 3,010,568 shares of common stock for net proceeds of $ 164.5 million, based on a weighted average forward price of $ 54.65 per share at settlement. During the year ended December 31, 2023, we physically settled a portion of the 2023 forward equity sale agreements and the outstanding forward equity sale agreement from 2022 by issuing 2,763,708 shares of common stock for net proceeds of $ 163.2 million, based on a weighted average forward price of $ 59.04 per share at settlement. During the year ended December 31, 2022, we physically settled a portion of the 2022 forward equity sale agreements and the outstanding forward equity sale agreement from 2021 by issuing 24,788,691 shares of common stock for net proceeds of $ 1.6 billion, based on a weighted average forward price of $ 65.02 per share at settlement. | text | 3010568 | sharesItemType | text: <entity> 3010568 </entity> <entity type> sharesItemType </entity type> <context> During the year ended December 31, 2024, we physically settled the forward equity sale agreements that were outstanding as of December 31, 2023 under the 2023 ATM Program by issuing 3,010,568 shares of common stock for net proceeds of $ 164.5 million, based on a weighted average forward price of $ 54.65 per share at settlement. During the year ended December 31, 2023, we physically settled a portion of the 2023 forward equity sale agreements and the outstanding forward equity sale agreement from 2022 by issuing 2,763,708 shares of common stock for net proceeds of $ 163.2 million, based on a weighted average forward price of $ 59.04 per share at settlement. During the year ended December 31, 2022, we physically settled a portion of the 2022 forward equity sale agreements and the outstanding forward equity sale agreement from 2021 by issuing 24,788,691 shares of common stock for net proceeds of $ 1.6 billion, based on a weighted average forward price of $ 65.02 per share at settlement. </context> | us-gaap:StockIssuedDuringPeriodSharesNewIssues |
During the year ended December 31, 2024, we physically settled the forward equity sale agreements that were outstanding as of December 31, 2023 under the 2023 ATM Program by issuing 3,010,568 shares of common stock for net proceeds of $ 164.5 million, based on a weighted average forward price of $ 54.65 per share at settlement. During the year ended December 31, 2023, we physically settled a portion of the 2023 forward equity sale agreements and the outstanding forward equity sale agreement from 2022 by issuing 2,763,708 shares of common stock for net proceeds of $ 163.2 million, based on a weighted average forward price of $ 59.04 per share at settlement. During the year ended December 31, 2022, we physically settled a portion of the 2022 forward equity sale agreements and the outstanding forward equity sale agreement from 2021 by issuing 24,788,691 shares of common stock for net proceeds of $ 1.6 billion, based on a weighted average forward price of $ 65.02 per share at settlement. | text | 2763708 | sharesItemType | text: <entity> 2763708 </entity> <entity type> sharesItemType </entity type> <context> During the year ended December 31, 2024, we physically settled the forward equity sale agreements that were outstanding as of December 31, 2023 under the 2023 ATM Program by issuing 3,010,568 shares of common stock for net proceeds of $ 164.5 million, based on a weighted average forward price of $ 54.65 per share at settlement. During the year ended December 31, 2023, we physically settled a portion of the 2023 forward equity sale agreements and the outstanding forward equity sale agreement from 2022 by issuing 2,763,708 shares of common stock for net proceeds of $ 163.2 million, based on a weighted average forward price of $ 59.04 per share at settlement. During the year ended December 31, 2022, we physically settled a portion of the 2022 forward equity sale agreements and the outstanding forward equity sale agreement from 2021 by issuing 24,788,691 shares of common stock for net proceeds of $ 1.6 billion, based on a weighted average forward price of $ 65.02 per share at settlement. </context> | us-gaap:StockIssuedDuringPeriodSharesNewIssues |
During the year ended December 31, 2024, we physically settled the forward equity sale agreements that were outstanding as of December 31, 2023 under the 2023 ATM Program by issuing 3,010,568 shares of common stock for net proceeds of $ 164.5 million, based on a weighted average forward price of $ 54.65 per share at settlement. During the year ended December 31, 2023, we physically settled a portion of the 2023 forward equity sale agreements and the outstanding forward equity sale agreement from 2022 by issuing 2,763,708 shares of common stock for net proceeds of $ 163.2 million, based on a weighted average forward price of $ 59.04 per share at settlement. During the year ended December 31, 2022, we physically settled a portion of the 2022 forward equity sale agreements and the outstanding forward equity sale agreement from 2021 by issuing 24,788,691 shares of common stock for net proceeds of $ 1.6 billion, based on a weighted average forward price of $ 65.02 per share at settlement. | text | 24788691 | sharesItemType | text: <entity> 24788691 </entity> <entity type> sharesItemType </entity type> <context> During the year ended December 31, 2024, we physically settled the forward equity sale agreements that were outstanding as of December 31, 2023 under the 2023 ATM Program by issuing 3,010,568 shares of common stock for net proceeds of $ 164.5 million, based on a weighted average forward price of $ 54.65 per share at settlement. During the year ended December 31, 2023, we physically settled a portion of the 2023 forward equity sale agreements and the outstanding forward equity sale agreement from 2022 by issuing 2,763,708 shares of common stock for net proceeds of $ 163.2 million, based on a weighted average forward price of $ 59.04 per share at settlement. During the year ended December 31, 2022, we physically settled a portion of the 2022 forward equity sale agreements and the outstanding forward equity sale agreement from 2021 by issuing 24,788,691 shares of common stock for net proceeds of $ 1.6 billion, based on a weighted average forward price of $ 65.02 per share at settlement. </context> | us-gaap:StockIssuedDuringPeriodSharesNewIssues |
In 2024, we partially settled the March 2024 Forward Sale Agreement by issuing 7,402,550 shares of common stock for net proceeds of $ 360.0 million, based on a weighted average forward price of $ 48.63 per share at settlement. As of December 31, 2024, we had 9,776,768 shares of common stock, or approximately $ 474.6 million of forward net proceeds remaining for settlement to occur prior to the scheduled maturity date of March 27, 2025, based on a forward price of $ 48.54 . See “Note 17 – Subsequent Events” for details related to the partial settlement of the March 2024 Forward Sale Agreement subsequent to December 31, 2024. | text | 7402550 | sharesItemType | text: <entity> 7402550 </entity> <entity type> sharesItemType </entity type> <context> In 2024, we partially settled the March 2024 Forward Sale Agreement by issuing 7,402,550 shares of common stock for net proceeds of $ 360.0 million, based on a weighted average forward price of $ 48.63 per share at settlement. As of December 31, 2024, we had 9,776,768 shares of common stock, or approximately $ 474.6 million of forward net proceeds remaining for settlement to occur prior to the scheduled maturity date of March 27, 2025, based on a forward price of $ 48.54 . See “Note 17 – Subsequent Events” for details related to the partial settlement of the March 2024 Forward Sale Agreement subsequent to December 31, 2024. </context> | us-gaap:StockIssuedDuringPeriodSharesNewIssues |
In 2023, we partially settled the May 2023 Forward Sale Agreements by issuing 11,246,966 shares of common stock for net proceeds of $ 623.6 million, based on a weighted average forward price of $ 55.45 , leaving a remaining 2,253,034 shares of common stock for settlement as of December 31, 2023. | text | 11246966 | sharesItemType | text: <entity> 11246966 </entity> <entity type> sharesItemType </entity type> <context> In 2023, we partially settled the May 2023 Forward Sale Agreements by issuing 11,246,966 shares of common stock for net proceeds of $ 623.6 million, based on a weighted average forward price of $ 55.45 , leaving a remaining 2,253,034 shares of common stock for settlement as of December 31, 2023. </context> | us-gaap:StockIssuedDuringPeriodSharesNewIssues |
In January 2024 we settled the outstanding May 2023 Forward Sale Agreements by issuing 2,253,034 shares of common stock for net proceeds of $ 125.7 million, based on a weighted average forward price of $ 55.79 per share at settlement. | text | 2253034 | sharesItemType | text: <entity> 2253034 </entity> <entity type> sharesItemType </entity type> <context> In January 2024 we settled the outstanding May 2023 Forward Sale Agreements by issuing 2,253,034 shares of common stock for net proceeds of $ 125.7 million, based on a weighted average forward price of $ 55.79 per share at settlement. </context> | us-gaap:StockIssuedDuringPeriodSharesNewIssues |
In December 2022, we partially settled the 2022 Forward Sale Agreements by issuing 3,554,704 shares of common stock for net proceeds of $ 198.7 million, based on a weighted average forward price of $ 55.90 per share at settlement. | text | 3554704 | sharesItemType | text: <entity> 3554704 </entity> <entity type> sharesItemType </entity type> <context> In December 2022, we partially settled the 2022 Forward Sale Agreements by issuing 3,554,704 shares of common stock for net proceeds of $ 198.7 million, based on a weighted average forward price of $ 55.90 per share at settlement. </context> | us-gaap:StockIssuedDuringPeriodSharesNewIssues |
During the year ended December 31, 2023, we settled the remaining shares under the 2022 Forward Sale Agreements by issuing 8,291,721 shares of common stock for net proceeds of $ 462.8 million, based on a weighted average forward price of $ 55.81 per share at settlement. | text | 8291721 | sharesItemType | text: <entity> 8291721 </entity> <entity type> sharesItemType </entity type> <context> During the year ended December 31, 2023, we settled the remaining shares under the 2022 Forward Sale Agreements by issuing 8,291,721 shares of common stock for net proceeds of $ 462.8 million, based on a weighted average forward price of $ 55.81 per share at settlement. </context> | us-gaap:StockIssuedDuringPeriodSharesNewIssues |
Amounts include $ 0.2 million and $ 0.2 million reclassifications from AOCI into interest expense for the years ended December 31, 2024 and 2023, respectively, related to terminated swaps. See “Note 8 – Interest Rate Derivatives” for additional information. | text | 0.2 | monetaryItemType | text: <entity> 0.2 </entity> <entity type> monetaryItemType </entity type> <context> Amounts include $ 0.2 million and $ 0.2 million reclassifications from AOCI into interest expense for the years ended December 31, 2024 and 2023, respectively, related to terminated swaps. See “Note 8 – Interest Rate Derivatives” for additional information. </context> | us-gaap:DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet |
As of December 31, 2024, noncontrolling interests included 6,067,689 OP Units, 1,096,247 fully-vested LTIP units and 1,262,969 fully-vested performance units which represented approximately 3.6 % of our Operating Partnership. OP Units and shares of our common stock have essentially the same economic characteristics, as they share equally in the total net income or loss distributions of our Operating Partnership. Investors who own OP Units have the right to cause our Operating Partnership to redeem any or all of their units in our Operating Partnership for an amount of cash per unit equal to the then current market value of one share of common stock, or, at our election, shares of our common stock on a one-for-one basis. See “Note 14 – Incentive Award Plan” for a description of LTIP Units and Performance Units. | text | 6067689 | sharesItemType | text: <entity> 6067689 </entity> <entity type> sharesItemType </entity type> <context> As of December 31, 2024, noncontrolling interests included 6,067,689 OP Units, 1,096,247 fully-vested LTIP units and 1,262,969 fully-vested performance units which represented approximately 3.6 % of our Operating Partnership. OP Units and shares of our common stock have essentially the same economic characteristics, as they share equally in the total net income or loss distributions of our Operating Partnership. Investors who own OP Units have the right to cause our Operating Partnership to redeem any or all of their units in our Operating Partnership for an amount of cash per unit equal to the then current market value of one share of common stock, or, at our election, shares of our common stock on a one-for-one basis. See “Note 14 – Incentive Award Plan” for a description of LTIP Units and Performance Units. </context> | us-gaap:LimitedPartnersCapitalAccountUnitsOutstanding |
As of December 31, 2024, noncontrolling interests included 6,067,689 OP Units, 1,096,247 fully-vested LTIP units and 1,262,969 fully-vested performance units which represented approximately 3.6 % of our Operating Partnership. OP Units and shares of our common stock have essentially the same economic characteristics, as they share equally in the total net income or loss distributions of our Operating Partnership. Investors who own OP Units have the right to cause our Operating Partnership to redeem any or all of their units in our Operating Partnership for an amount of cash per unit equal to the then current market value of one share of common stock, or, at our election, shares of our common stock on a one-for-one basis. See “Note 14 – Incentive Award Plan” for a description of LTIP Units and Performance Units. | text | 1096247 | sharesItemType | text: <entity> 1096247 </entity> <entity type> sharesItemType </entity type> <context> As of December 31, 2024, noncontrolling interests included 6,067,689 OP Units, 1,096,247 fully-vested LTIP units and 1,262,969 fully-vested performance units which represented approximately 3.6 % of our Operating Partnership. OP Units and shares of our common stock have essentially the same economic characteristics, as they share equally in the total net income or loss distributions of our Operating Partnership. Investors who own OP Units have the right to cause our Operating Partnership to redeem any or all of their units in our Operating Partnership for an amount of cash per unit equal to the then current market value of one share of common stock, or, at our election, shares of our common stock on a one-for-one basis. See “Note 14 – Incentive Award Plan” for a description of LTIP Units and Performance Units. </context> | us-gaap:LimitedPartnersCapitalAccountUnitsOutstanding |
As of December 31, 2024, noncontrolling interests included 6,067,689 OP Units, 1,096,247 fully-vested LTIP units and 1,262,969 fully-vested performance units which represented approximately 3.6 % of our Operating Partnership. OP Units and shares of our common stock have essentially the same economic characteristics, as they share equally in the total net income or loss distributions of our Operating Partnership. Investors who own OP Units have the right to cause our Operating Partnership to redeem any or all of their units in our Operating Partnership for an amount of cash per unit equal to the then current market value of one share of common stock, or, at our election, shares of our common stock on a one-for-one basis. See “Note 14 – Incentive Award Plan” for a description of LTIP Units and Performance Units. | text | 1262969 | sharesItemType | text: <entity> 1262969 </entity> <entity type> sharesItemType </entity type> <context> As of December 31, 2024, noncontrolling interests included 6,067,689 OP Units, 1,096,247 fully-vested LTIP units and 1,262,969 fully-vested performance units which represented approximately 3.6 % of our Operating Partnership. OP Units and shares of our common stock have essentially the same economic characteristics, as they share equally in the total net income or loss distributions of our Operating Partnership. Investors who own OP Units have the right to cause our Operating Partnership to redeem any or all of their units in our Operating Partnership for an amount of cash per unit equal to the then current market value of one share of common stock, or, at our election, shares of our common stock on a one-for-one basis. See “Note 14 – Incentive Award Plan” for a description of LTIP Units and Performance Units. </context> | us-gaap:LimitedPartnersCapitalAccountUnitsOutstanding |
As of December 31, 2024, noncontrolling interests included 6,067,689 OP Units, 1,096,247 fully-vested LTIP units and 1,262,969 fully-vested performance units which represented approximately 3.6 % of our Operating Partnership. OP Units and shares of our common stock have essentially the same economic characteristics, as they share equally in the total net income or loss distributions of our Operating Partnership. Investors who own OP Units have the right to cause our Operating Partnership to redeem any or all of their units in our Operating Partnership for an amount of cash per unit equal to the then current market value of one share of common stock, or, at our election, shares of our common stock on a one-for-one basis. See “Note 14 – Incentive Award Plan” for a description of LTIP Units and Performance Units. | text | 3.6 | percentItemType | text: <entity> 3.6 </entity> <entity type> percentItemType </entity type> <context> As of December 31, 2024, noncontrolling interests included 6,067,689 OP Units, 1,096,247 fully-vested LTIP units and 1,262,969 fully-vested performance units which represented approximately 3.6 % of our Operating Partnership. OP Units and shares of our common stock have essentially the same economic characteristics, as they share equally in the total net income or loss distributions of our Operating Partnership. Investors who own OP Units have the right to cause our Operating Partnership to redeem any or all of their units in our Operating Partnership for an amount of cash per unit equal to the then current market value of one share of common stock, or, at our election, shares of our common stock on a one-for-one basis. See “Note 14 – Incentive Award Plan” for a description of LTIP Units and Performance Units. </context> | us-gaap:MinorityInterestOwnershipPercentageByNoncontrollingOwners |
On May 25, 2022, we acquired the property located at 14200-14220 Arminta Street for a purchase price of $ 80.7 million. As partial consideration for the property, we issued the seller 954,000 OP Units valued at $ 56.2 million. | text | 80.7 | monetaryItemType | text: <entity> 80.7 </entity> <entity type> monetaryItemType </entity type> <context> On May 25, 2022, we acquired the property located at 14200-14220 Arminta Street for a purchase price of $ 80.7 million. As partial consideration for the property, we issued the seller 954,000 OP Units valued at $ 56.2 million. </context> | us-gaap:AssetAcquisitionConsiderationTransferred |
On May 25, 2022, we acquired the property located at 14200-14220 Arminta Street for a purchase price of $ 80.7 million. As partial consideration for the property, we issued the seller 954,000 OP Units valued at $ 56.2 million. | text | 954000 | sharesItemType | text: <entity> 954000 </entity> <entity type> sharesItemType </entity type> <context> On May 25, 2022, we acquired the property located at 14200-14220 Arminta Street for a purchase price of $ 80.7 million. As partial consideration for the property, we issued the seller 954,000 OP Units valued at $ 56.2 million. </context> | us-gaap:LimitedPartnersCapitalAccountUnitsIssued |
On May 25, 2022, we acquired the property located at 14200-14220 Arminta Street for a purchase price of $ 80.7 million. As partial consideration for the property, we issued the seller 954,000 OP Units valued at $ 56.2 million. | text | 56.2 | monetaryItemType | text: <entity> 56.2 </entity> <entity type> monetaryItemType </entity type> <context> On May 25, 2022, we acquired the property located at 14200-14220 Arminta Street for a purchase price of $ 80.7 million. As partial consideration for the property, we issued the seller 954,000 OP Units valued at $ 56.2 million. </context> | us-gaap:NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance |
During the years ended December 31, 2024, 2023 and 2022, we redeemed 114,230 , 329,212 and 167,286 OP Units, respectively, in exchange for issuing to the holders of the OP Units an equal number of shares of our common stock, resulting in the reclassification of $ 4.7 million, $ 13.0 million, and $ 6.2 million, respectively, from noncontrolling interests to total stockholders’ equity. | text | 114230 | sharesItemType | text: <entity> 114230 </entity> <entity type> sharesItemType </entity type> <context> During the years ended December 31, 2024, 2023 and 2022, we redeemed 114,230 , 329,212 and 167,286 OP Units, respectively, in exchange for issuing to the holders of the OP Units an equal number of shares of our common stock, resulting in the reclassification of $ 4.7 million, $ 13.0 million, and $ 6.2 million, respectively, from noncontrolling interests to total stockholders’ equity. </context> | us-gaap:StockIssuedDuringPeriodSharesConversionOfUnits |
During the years ended December 31, 2024, 2023 and 2022, we redeemed 114,230 , 329,212 and 167,286 OP Units, respectively, in exchange for issuing to the holders of the OP Units an equal number of shares of our common stock, resulting in the reclassification of $ 4.7 million, $ 13.0 million, and $ 6.2 million, respectively, from noncontrolling interests to total stockholders’ equity. | text | 329212 | sharesItemType | text: <entity> 329212 </entity> <entity type> sharesItemType </entity type> <context> During the years ended December 31, 2024, 2023 and 2022, we redeemed 114,230 , 329,212 and 167,286 OP Units, respectively, in exchange for issuing to the holders of the OP Units an equal number of shares of our common stock, resulting in the reclassification of $ 4.7 million, $ 13.0 million, and $ 6.2 million, respectively, from noncontrolling interests to total stockholders’ equity. </context> | us-gaap:StockIssuedDuringPeriodSharesConversionOfUnits |
During the years ended December 31, 2024, 2023 and 2022, we redeemed 114,230 , 329,212 and 167,286 OP Units, respectively, in exchange for issuing to the holders of the OP Units an equal number of shares of our common stock, resulting in the reclassification of $ 4.7 million, $ 13.0 million, and $ 6.2 million, respectively, from noncontrolling interests to total stockholders’ equity. | text | 167286 | sharesItemType | text: <entity> 167286 </entity> <entity type> sharesItemType </entity type> <context> During the years ended December 31, 2024, 2023 and 2022, we redeemed 114,230 , 329,212 and 167,286 OP Units, respectively, in exchange for issuing to the holders of the OP Units an equal number of shares of our common stock, resulting in the reclassification of $ 4.7 million, $ 13.0 million, and $ 6.2 million, respectively, from noncontrolling interests to total stockholders’ equity. </context> | us-gaap:StockIssuedDuringPeriodSharesConversionOfUnits |
During the years ended December 31, 2024, 2023 and 2022, we redeemed 114,230 , 329,212 and 167,286 OP Units, respectively, in exchange for issuing to the holders of the OP Units an equal number of shares of our common stock, resulting in the reclassification of $ 4.7 million, $ 13.0 million, and $ 6.2 million, respectively, from noncontrolling interests to total stockholders’ equity. | text | 4.7 | monetaryItemType | text: <entity> 4.7 </entity> <entity type> monetaryItemType </entity type> <context> During the years ended December 31, 2024, 2023 and 2022, we redeemed 114,230 , 329,212 and 167,286 OP Units, respectively, in exchange for issuing to the holders of the OP Units an equal number of shares of our common stock, resulting in the reclassification of $ 4.7 million, $ 13.0 million, and $ 6.2 million, respectively, from noncontrolling interests to total stockholders’ equity. </context> | us-gaap:StockIssuedDuringPeriodValueConversionOfUnits |
During the years ended December 31, 2024, 2023 and 2022, we redeemed 114,230 , 329,212 and 167,286 OP Units, respectively, in exchange for issuing to the holders of the OP Units an equal number of shares of our common stock, resulting in the reclassification of $ 4.7 million, $ 13.0 million, and $ 6.2 million, respectively, from noncontrolling interests to total stockholders’ equity. | text | 13.0 | monetaryItemType | text: <entity> 13.0 </entity> <entity type> monetaryItemType </entity type> <context> During the years ended December 31, 2024, 2023 and 2022, we redeemed 114,230 , 329,212 and 167,286 OP Units, respectively, in exchange for issuing to the holders of the OP Units an equal number of shares of our common stock, resulting in the reclassification of $ 4.7 million, $ 13.0 million, and $ 6.2 million, respectively, from noncontrolling interests to total stockholders’ equity. </context> | us-gaap:StockIssuedDuringPeriodValueConversionOfUnits |
During the years ended December 31, 2024, 2023 and 2022, we redeemed 114,230 , 329,212 and 167,286 OP Units, respectively, in exchange for issuing to the holders of the OP Units an equal number of shares of our common stock, resulting in the reclassification of $ 4.7 million, $ 13.0 million, and $ 6.2 million, respectively, from noncontrolling interests to total stockholders’ equity. | text | 6.2 | monetaryItemType | text: <entity> 6.2 </entity> <entity type> monetaryItemType </entity type> <context> During the years ended December 31, 2024, 2023 and 2022, we redeemed 114,230 , 329,212 and 167,286 OP Units, respectively, in exchange for issuing to the holders of the OP Units an equal number of shares of our common stock, resulting in the reclassification of $ 4.7 million, $ 13.0 million, and $ 6.2 million, respectively, from noncontrolling interests to total stockholders’ equity. </context> | us-gaap:StockIssuedDuringPeriodValueConversionOfUnits |
On March 17, 2022, we acquired an industrial business park located in Long Beach, California for a contractual purchase price of approximately $ 24.0 million. In consideration for the property, we (i) paid approximately $ 12.0 million in cash and (ii) issued the seller 164,998 newly issued 3.00 % cumulative redeemable convertible preferred units of partnership interest in the Operating Partnership (“Series 3 CPOP Units”), valued at $ 12.0 million. | text | 24.0 | monetaryItemType | text: <entity> 24.0 </entity> <entity type> monetaryItemType </entity type> <context> On March 17, 2022, we acquired an industrial business park located in Long Beach, California for a contractual purchase price of approximately $ 24.0 million. In consideration for the property, we (i) paid approximately $ 12.0 million in cash and (ii) issued the seller 164,998 newly issued 3.00 % cumulative redeemable convertible preferred units of partnership interest in the Operating Partnership (“Series 3 CPOP Units”), valued at $ 12.0 million. </context> | us-gaap:AssetAcquisitionConsiderationTransferred |
On March 17, 2022, we acquired an industrial business park located in Long Beach, California for a contractual purchase price of approximately $ 24.0 million. In consideration for the property, we (i) paid approximately $ 12.0 million in cash and (ii) issued the seller 164,998 newly issued 3.00 % cumulative redeemable convertible preferred units of partnership interest in the Operating Partnership (“Series 3 CPOP Units”), valued at $ 12.0 million. | text | 3.00 | percentItemType | text: <entity> 3.00 </entity> <entity type> percentItemType </entity type> <context> On March 17, 2022, we acquired an industrial business park located in Long Beach, California for a contractual purchase price of approximately $ 24.0 million. In consideration for the property, we (i) paid approximately $ 12.0 million in cash and (ii) issued the seller 164,998 newly issued 3.00 % cumulative redeemable convertible preferred units of partnership interest in the Operating Partnership (“Series 3 CPOP Units”), valued at $ 12.0 million. </context> | us-gaap:PreferredStockDividendRatePercentage |
Holders of Series 3 CPOP Units, when and as authorized by the Company as general partner of the Operating Partnership, are entitled to cumulative cash distributions at the rate of 3.00 % per annum of the $ 72.73 per unit liquidation preference, payable quarterly in arrears on or about the last day of March, June, September and December of each year, beginning on March 31, 2022. The holders of Series 3 CPOP Units are entitled to receive the liquidation preference, which is $ 72.73 per unit or approximately $ 12.0 million in the aggregate for all of the Series 3 CPOP Units, before the holders of OP Units in the event of any voluntary or involuntary liquidation, dissolution or winding-up of the affairs of the Operating Partnership. | text | 3.00 | percentItemType | text: <entity> 3.00 </entity> <entity type> percentItemType </entity type> <context> Holders of Series 3 CPOP Units, when and as authorized by the Company as general partner of the Operating Partnership, are entitled to cumulative cash distributions at the rate of 3.00 % per annum of the $ 72.73 per unit liquidation preference, payable quarterly in arrears on or about the last day of March, June, September and December of each year, beginning on March 31, 2022. The holders of Series 3 CPOP Units are entitled to receive the liquidation preference, which is $ 72.73 per unit or approximately $ 12.0 million in the aggregate for all of the Series 3 CPOP Units, before the holders of OP Units in the event of any voluntary or involuntary liquidation, dissolution or winding-up of the affairs of the Operating Partnership. </context> | us-gaap:PreferredStockDividendRatePercentage |
Holders of Series 3 CPOP Units, when and as authorized by the Company as general partner of the Operating Partnership, are entitled to cumulative cash distributions at the rate of 3.00 % per annum of the $ 72.73 per unit liquidation preference, payable quarterly in arrears on or about the last day of March, June, September and December of each year, beginning on March 31, 2022. The holders of Series 3 CPOP Units are entitled to receive the liquidation preference, which is $ 72.73 per unit or approximately $ 12.0 million in the aggregate for all of the Series 3 CPOP Units, before the holders of OP Units in the event of any voluntary or involuntary liquidation, dissolution or winding-up of the affairs of the Operating Partnership. | text | 72.73 | perShareItemType | text: <entity> 72.73 </entity> <entity type> perShareItemType </entity type> <context> Holders of Series 3 CPOP Units, when and as authorized by the Company as general partner of the Operating Partnership, are entitled to cumulative cash distributions at the rate of 3.00 % per annum of the $ 72.73 per unit liquidation preference, payable quarterly in arrears on or about the last day of March, June, September and December of each year, beginning on March 31, 2022. The holders of Series 3 CPOP Units are entitled to receive the liquidation preference, which is $ 72.73 per unit or approximately $ 12.0 million in the aggregate for all of the Series 3 CPOP Units, before the holders of OP Units in the event of any voluntary or involuntary liquidation, dissolution or winding-up of the affairs of the Operating Partnership. </context> | us-gaap:PreferredStockLiquidationPreference |
Holders of Series 3 CPOP Units, when and as authorized by the Company as general partner of the Operating Partnership, are entitled to cumulative cash distributions at the rate of 3.00 % per annum of the $ 72.73 per unit liquidation preference, payable quarterly in arrears on or about the last day of March, June, September and December of each year, beginning on March 31, 2022. The holders of Series 3 CPOP Units are entitled to receive the liquidation preference, which is $ 72.73 per unit or approximately $ 12.0 million in the aggregate for all of the Series 3 CPOP Units, before the holders of OP Units in the event of any voluntary or involuntary liquidation, dissolution or winding-up of the affairs of the Operating Partnership. | text | 12.0 | monetaryItemType | text: <entity> 12.0 </entity> <entity type> monetaryItemType </entity type> <context> Holders of Series 3 CPOP Units, when and as authorized by the Company as general partner of the Operating Partnership, are entitled to cumulative cash distributions at the rate of 3.00 % per annum of the $ 72.73 per unit liquidation preference, payable quarterly in arrears on or about the last day of March, June, September and December of each year, beginning on March 31, 2022. The holders of Series 3 CPOP Units are entitled to receive the liquidation preference, which is $ 72.73 per unit or approximately $ 12.0 million in the aggregate for all of the Series 3 CPOP Units, before the holders of OP Units in the event of any voluntary or involuntary liquidation, dissolution or winding-up of the affairs of the Operating Partnership. </context> | us-gaap:PreferredStockLiquidationPreferenceValue |
As of December 31, 2024, we have 906,374 4.00 % cumulative redeemable convertible preferred units of partnership interest in the Operating Partnership (“Series 2 CPOP Units”) outstanding. | text | 4.00 | percentItemType | text: <entity> 4.00 </entity> <entity type> percentItemType </entity type> <context> As of December 31, 2024, we have 906,374 4.00 % cumulative redeemable convertible preferred units of partnership interest in the Operating Partnership (“Series 2 CPOP Units”) outstanding. </context> | us-gaap:PreferredStockDividendRatePercentage |
Holders of Series 2 CPOP Units, when and as authorized by the Company as general partner of the Operating Partnership, are entitled to cumulative cash distributions at the rate of 4.00 % per annum through March 4, 2025 (and 5.00 % per annum thereafter) of the $ 45.00 per unit liquidation preference, payable quarterly in arrears on or about the last day of March, June, September and December of each year, beginning on March 31, 2020. The holders of Series 2 CPOP Units are entitled to receive the liquidation preference, which is $ 45.00 per unit or approximately $ 40.8 million in the aggregate for all of the Series 2 CPOP Units, before the holders of OP Units are entitled to receive distributions in the event of any voluntary or involuntary liquidation, dissolution or winding-up of the affairs of the Operating Partnership. | text | 4.00 | percentItemType | text: <entity> 4.00 </entity> <entity type> percentItemType </entity type> <context> Holders of Series 2 CPOP Units, when and as authorized by the Company as general partner of the Operating Partnership, are entitled to cumulative cash distributions at the rate of 4.00 % per annum through March 4, 2025 (and 5.00 % per annum thereafter) of the $ 45.00 per unit liquidation preference, payable quarterly in arrears on or about the last day of March, June, September and December of each year, beginning on March 31, 2020. The holders of Series 2 CPOP Units are entitled to receive the liquidation preference, which is $ 45.00 per unit or approximately $ 40.8 million in the aggregate for all of the Series 2 CPOP Units, before the holders of OP Units are entitled to receive distributions in the event of any voluntary or involuntary liquidation, dissolution or winding-up of the affairs of the Operating Partnership. </context> | us-gaap:PreferredStockDividendRatePercentage |
Holders of Series 2 CPOP Units, when and as authorized by the Company as general partner of the Operating Partnership, are entitled to cumulative cash distributions at the rate of 4.00 % per annum through March 4, 2025 (and 5.00 % per annum thereafter) of the $ 45.00 per unit liquidation preference, payable quarterly in arrears on or about the last day of March, June, September and December of each year, beginning on March 31, 2020. The holders of Series 2 CPOP Units are entitled to receive the liquidation preference, which is $ 45.00 per unit or approximately $ 40.8 million in the aggregate for all of the Series 2 CPOP Units, before the holders of OP Units are entitled to receive distributions in the event of any voluntary or involuntary liquidation, dissolution or winding-up of the affairs of the Operating Partnership. | text | 5.00 | percentItemType | text: <entity> 5.00 </entity> <entity type> percentItemType </entity type> <context> Holders of Series 2 CPOP Units, when and as authorized by the Company as general partner of the Operating Partnership, are entitled to cumulative cash distributions at the rate of 4.00 % per annum through March 4, 2025 (and 5.00 % per annum thereafter) of the $ 45.00 per unit liquidation preference, payable quarterly in arrears on or about the last day of March, June, September and December of each year, beginning on March 31, 2020. The holders of Series 2 CPOP Units are entitled to receive the liquidation preference, which is $ 45.00 per unit or approximately $ 40.8 million in the aggregate for all of the Series 2 CPOP Units, before the holders of OP Units are entitled to receive distributions in the event of any voluntary or involuntary liquidation, dissolution or winding-up of the affairs of the Operating Partnership. </context> | us-gaap:PreferredStockDividendRatePercentage |
Holders of Series 2 CPOP Units, when and as authorized by the Company as general partner of the Operating Partnership, are entitled to cumulative cash distributions at the rate of 4.00 % per annum through March 4, 2025 (and 5.00 % per annum thereafter) of the $ 45.00 per unit liquidation preference, payable quarterly in arrears on or about the last day of March, June, September and December of each year, beginning on March 31, 2020. The holders of Series 2 CPOP Units are entitled to receive the liquidation preference, which is $ 45.00 per unit or approximately $ 40.8 million in the aggregate for all of the Series 2 CPOP Units, before the holders of OP Units are entitled to receive distributions in the event of any voluntary or involuntary liquidation, dissolution or winding-up of the affairs of the Operating Partnership. | text | 45.00 | perShareItemType | text: <entity> 45.00 </entity> <entity type> perShareItemType </entity type> <context> Holders of Series 2 CPOP Units, when and as authorized by the Company as general partner of the Operating Partnership, are entitled to cumulative cash distributions at the rate of 4.00 % per annum through March 4, 2025 (and 5.00 % per annum thereafter) of the $ 45.00 per unit liquidation preference, payable quarterly in arrears on or about the last day of March, June, September and December of each year, beginning on March 31, 2020. The holders of Series 2 CPOP Units are entitled to receive the liquidation preference, which is $ 45.00 per unit or approximately $ 40.8 million in the aggregate for all of the Series 2 CPOP Units, before the holders of OP Units are entitled to receive distributions in the event of any voluntary or involuntary liquidation, dissolution or winding-up of the affairs of the Operating Partnership. </context> | us-gaap:PreferredStockLiquidationPreference |
Holders of Series 2 CPOP Units, when and as authorized by the Company as general partner of the Operating Partnership, are entitled to cumulative cash distributions at the rate of 4.00 % per annum through March 4, 2025 (and 5.00 % per annum thereafter) of the $ 45.00 per unit liquidation preference, payable quarterly in arrears on or about the last day of March, June, September and December of each year, beginning on March 31, 2020. The holders of Series 2 CPOP Units are entitled to receive the liquidation preference, which is $ 45.00 per unit or approximately $ 40.8 million in the aggregate for all of the Series 2 CPOP Units, before the holders of OP Units are entitled to receive distributions in the event of any voluntary or involuntary liquidation, dissolution or winding-up of the affairs of the Operating Partnership. | text | 40.8 | monetaryItemType | text: <entity> 40.8 </entity> <entity type> monetaryItemType </entity type> <context> Holders of Series 2 CPOP Units, when and as authorized by the Company as general partner of the Operating Partnership, are entitled to cumulative cash distributions at the rate of 4.00 % per annum through March 4, 2025 (and 5.00 % per annum thereafter) of the $ 45.00 per unit liquidation preference, payable quarterly in arrears on or about the last day of March, June, September and December of each year, beginning on March 31, 2020. The holders of Series 2 CPOP Units are entitled to receive the liquidation preference, which is $ 45.00 per unit or approximately $ 40.8 million in the aggregate for all of the Series 2 CPOP Units, before the holders of OP Units are entitled to receive distributions in the event of any voluntary or involuntary liquidation, dissolution or winding-up of the affairs of the Operating Partnership. </context> | us-gaap:PreferredStockLiquidationPreferenceValue |
Prior to April 10, 2024, we had 593,960 4.43937 % cumulative redeemable convertible preferred units of partnership interest in the Operating Partnership (“Series 1 CPOP Units”) outstanding. Holders of Series 1 CPOP Units, when and as authorized by the Company as general partner of the Operating Partnership, were entitled to cumulative cash distributions at the rate of 4.43937 % per annum of the $ 45.50952 per unit liquidation preference, payable quarterly in arrears on or about the last day of March, June, September and December of each year, beginning on June 28, 2019. On April 10, 2024, we exercised our right to convert, as described below, all 593,960 Series 1 CPOP Units into 593,960 OP Units. In connection with the conversion of the Series 1 CPOP Units, we paid the holder a prorated cash distribution of $ 30 thousand for the period from April 1, 2024 through April 9, 2024. | text | 4.43937 | percentItemType | text: <entity> 4.43937 </entity> <entity type> percentItemType </entity type> <context> Prior to April 10, 2024, we had 593,960 4.43937 % cumulative redeemable convertible preferred units of partnership interest in the Operating Partnership (“Series 1 CPOP Units”) outstanding. Holders of Series 1 CPOP Units, when and as authorized by the Company as general partner of the Operating Partnership, were entitled to cumulative cash distributions at the rate of 4.43937 % per annum of the $ 45.50952 per unit liquidation preference, payable quarterly in arrears on or about the last day of March, June, September and December of each year, beginning on June 28, 2019. On April 10, 2024, we exercised our right to convert, as described below, all 593,960 Series 1 CPOP Units into 593,960 OP Units. In connection with the conversion of the Series 1 CPOP Units, we paid the holder a prorated cash distribution of $ 30 thousand for the period from April 1, 2024 through April 9, 2024. </context> | us-gaap:PreferredStockDividendRatePercentage |
Prior to April 10, 2024, we had 593,960 4.43937 % cumulative redeemable convertible preferred units of partnership interest in the Operating Partnership (“Series 1 CPOP Units”) outstanding. Holders of Series 1 CPOP Units, when and as authorized by the Company as general partner of the Operating Partnership, were entitled to cumulative cash distributions at the rate of 4.43937 % per annum of the $ 45.50952 per unit liquidation preference, payable quarterly in arrears on or about the last day of March, June, September and December of each year, beginning on June 28, 2019. On April 10, 2024, we exercised our right to convert, as described below, all 593,960 Series 1 CPOP Units into 593,960 OP Units. In connection with the conversion of the Series 1 CPOP Units, we paid the holder a prorated cash distribution of $ 30 thousand for the period from April 1, 2024 through April 9, 2024. | text | 45.50952 | perShareItemType | text: <entity> 45.50952 </entity> <entity type> perShareItemType </entity type> <context> Prior to April 10, 2024, we had 593,960 4.43937 % cumulative redeemable convertible preferred units of partnership interest in the Operating Partnership (“Series 1 CPOP Units”) outstanding. Holders of Series 1 CPOP Units, when and as authorized by the Company as general partner of the Operating Partnership, were entitled to cumulative cash distributions at the rate of 4.43937 % per annum of the $ 45.50952 per unit liquidation preference, payable quarterly in arrears on or about the last day of March, June, September and December of each year, beginning on June 28, 2019. On April 10, 2024, we exercised our right to convert, as described below, all 593,960 Series 1 CPOP Units into 593,960 OP Units. In connection with the conversion of the Series 1 CPOP Units, we paid the holder a prorated cash distribution of $ 30 thousand for the period from April 1, 2024 through April 9, 2024. </context> | us-gaap:PreferredStockLiquidationPreference |
Prior to April 10, 2024, we had 593,960 4.43937 % cumulative redeemable convertible preferred units of partnership interest in the Operating Partnership (“Series 1 CPOP Units”) outstanding. Holders of Series 1 CPOP Units, when and as authorized by the Company as general partner of the Operating Partnership, were entitled to cumulative cash distributions at the rate of 4.43937 % per annum of the $ 45.50952 per unit liquidation preference, payable quarterly in arrears on or about the last day of March, June, September and December of each year, beginning on June 28, 2019. On April 10, 2024, we exercised our right to convert, as described below, all 593,960 Series 1 CPOP Units into 593,960 OP Units. In connection with the conversion of the Series 1 CPOP Units, we paid the holder a prorated cash distribution of $ 30 thousand for the period from April 1, 2024 through April 9, 2024. | text | 593960 | sharesItemType | text: <entity> 593960 </entity> <entity type> sharesItemType </entity type> <context> Prior to April 10, 2024, we had 593,960 4.43937 % cumulative redeemable convertible preferred units of partnership interest in the Operating Partnership (“Series 1 CPOP Units”) outstanding. Holders of Series 1 CPOP Units, when and as authorized by the Company as general partner of the Operating Partnership, were entitled to cumulative cash distributions at the rate of 4.43937 % per annum of the $ 45.50952 per unit liquidation preference, payable quarterly in arrears on or about the last day of March, June, September and December of each year, beginning on June 28, 2019. On April 10, 2024, we exercised our right to convert, as described below, all 593,960 Series 1 CPOP Units into 593,960 OP Units. In connection with the conversion of the Series 1 CPOP Units, we paid the holder a prorated cash distribution of $ 30 thousand for the period from April 1, 2024 through April 9, 2024. </context> | us-gaap:LimitedPartnersCapitalAccountUnitsOutstanding |
Prior to April 10, 2024, we had 593,960 4.43937 % cumulative redeemable convertible preferred units of partnership interest in the Operating Partnership (“Series 1 CPOP Units”) outstanding. Holders of Series 1 CPOP Units, when and as authorized by the Company as general partner of the Operating Partnership, were entitled to cumulative cash distributions at the rate of 4.43937 % per annum of the $ 45.50952 per unit liquidation preference, payable quarterly in arrears on or about the last day of March, June, September and December of each year, beginning on June 28, 2019. On April 10, 2024, we exercised our right to convert, as described below, all 593,960 Series 1 CPOP Units into 593,960 OP Units. In connection with the conversion of the Series 1 CPOP Units, we paid the holder a prorated cash distribution of $ 30 thousand for the period from April 1, 2024 through April 9, 2024. | text | 30 | monetaryItemType | text: <entity> 30 </entity> <entity type> monetaryItemType </entity type> <context> Prior to April 10, 2024, we had 593,960 4.43937 % cumulative redeemable convertible preferred units of partnership interest in the Operating Partnership (“Series 1 CPOP Units”) outstanding. Holders of Series 1 CPOP Units, when and as authorized by the Company as general partner of the Operating Partnership, were entitled to cumulative cash distributions at the rate of 4.43937 % per annum of the $ 45.50952 per unit liquidation preference, payable quarterly in arrears on or about the last day of March, June, September and December of each year, beginning on June 28, 2019. On April 10, 2024, we exercised our right to convert, as described below, all 593,960 Series 1 CPOP Units into 593,960 OP Units. In connection with the conversion of the Series 1 CPOP Units, we paid the holder a prorated cash distribution of $ 30 thousand for the period from April 1, 2024 through April 9, 2024. </context> | us-gaap:DistributionMadeToLimitedPartnerCashDistributionsPaid |
The CPOP Units rank senior to the Operating Partnership’s OP Units, on parity with the Operating Partnership’s 5.875 % series B cumulative redeemable preferred units and 5.625 % series C cumulative redeemable preferred units and with any future class or series of partnership interest of the Operating Partnership expressly designated as ranking on parity with the CPOP Units, and junior to any other class or series of partnership interest of the Operating Partnership expressly designated as ranking senior to the CPOP Units. | text | 5.875 | percentItemType | text: <entity> 5.875 </entity> <entity type> percentItemType </entity type> <context> The CPOP Units rank senior to the Operating Partnership’s OP Units, on parity with the Operating Partnership’s 5.875 % series B cumulative redeemable preferred units and 5.625 % series C cumulative redeemable preferred units and with any future class or series of partnership interest of the Operating Partnership expressly designated as ranking on parity with the CPOP Units, and junior to any other class or series of partnership interest of the Operating Partnership expressly designated as ranking senior to the CPOP Units. </context> | us-gaap:PreferredStockDividendRatePercentage |
The CPOP Units rank senior to the Operating Partnership’s OP Units, on parity with the Operating Partnership’s 5.875 % series B cumulative redeemable preferred units and 5.625 % series C cumulative redeemable preferred units and with any future class or series of partnership interest of the Operating Partnership expressly designated as ranking on parity with the CPOP Units, and junior to any other class or series of partnership interest of the Operating Partnership expressly designated as ranking senior to the CPOP Units. | text | 5.625 | percentItemType | text: <entity> 5.625 </entity> <entity type> percentItemType </entity type> <context> The CPOP Units rank senior to the Operating Partnership’s OP Units, on parity with the Operating Partnership’s 5.875 % series B cumulative redeemable preferred units and 5.625 % series C cumulative redeemable preferred units and with any future class or series of partnership interest of the Operating Partnership expressly designated as ranking on parity with the CPOP Units, and junior to any other class or series of partnership interest of the Operating Partnership expressly designated as ranking senior to the CPOP Units. </context> | us-gaap:PreferredStockDividendRatePercentage |
On July 18, 2022, we acquired a portfolio of properties through the purchase of a private REIT. The private REIT had 122 units of 12 % cumulative redeemable non-voting preferred units outstanding (the “private REIT units”) that were held by unaffiliated third parties. The private REIT units had a redemption price equal to $ 1,000 per unit upon redemption, or an aggregate price of $ 122,000 , plus any distributions thereon that had accrued but had not been paid at the time of such redemption (the “liquidation preference”), plus a redemption premium of $ 100 per unit if redeemed on or before December 31, 2024. On December 31, 2024, we redeemed all 122 private REIT units in the amount equal to $ 1,000 per unit plus a redemption premium of $ 100 per unit. Prior to their redemption, the private REIT units had been classified as noncontrolling interests in our consolidated balance sheets and had a balance equal to the liquidation preference. | text | 12 | percentItemType | text: <entity> 12 </entity> <entity type> percentItemType </entity type> <context> On July 18, 2022, we acquired a portfolio of properties through the purchase of a private REIT. The private REIT had 122 units of 12 % cumulative redeemable non-voting preferred units outstanding (the “private REIT units”) that were held by unaffiliated third parties. The private REIT units had a redemption price equal to $ 1,000 per unit upon redemption, or an aggregate price of $ 122,000 , plus any distributions thereon that had accrued but had not been paid at the time of such redemption (the “liquidation preference”), plus a redemption premium of $ 100 per unit if redeemed on or before December 31, 2024. On December 31, 2024, we redeemed all 122 private REIT units in the amount equal to $ 1,000 per unit plus a redemption premium of $ 100 per unit. Prior to their redemption, the private REIT units had been classified as noncontrolling interests in our consolidated balance sheets and had a balance equal to the liquidation preference. </context> | us-gaap:PreferredStockDividendRatePercentage |
On July 18, 2022, we acquired a portfolio of properties through the purchase of a private REIT. The private REIT had 122 units of 12 % cumulative redeemable non-voting preferred units outstanding (the “private REIT units”) that were held by unaffiliated third parties. The private REIT units had a redemption price equal to $ 1,000 per unit upon redemption, or an aggregate price of $ 122,000 , plus any distributions thereon that had accrued but had not been paid at the time of such redemption (the “liquidation preference”), plus a redemption premium of $ 100 per unit if redeemed on or before December 31, 2024. On December 31, 2024, we redeemed all 122 private REIT units in the amount equal to $ 1,000 per unit plus a redemption premium of $ 100 per unit. Prior to their redemption, the private REIT units had been classified as noncontrolling interests in our consolidated balance sheets and had a balance equal to the liquidation preference. | text | 1000 | perShareItemType | text: <entity> 1000 </entity> <entity type> perShareItemType </entity type> <context> On July 18, 2022, we acquired a portfolio of properties through the purchase of a private REIT. The private REIT had 122 units of 12 % cumulative redeemable non-voting preferred units outstanding (the “private REIT units”) that were held by unaffiliated third parties. The private REIT units had a redemption price equal to $ 1,000 per unit upon redemption, or an aggregate price of $ 122,000 , plus any distributions thereon that had accrued but had not been paid at the time of such redemption (the “liquidation preference”), plus a redemption premium of $ 100 per unit if redeemed on or before December 31, 2024. On December 31, 2024, we redeemed all 122 private REIT units in the amount equal to $ 1,000 per unit plus a redemption premium of $ 100 per unit. Prior to their redemption, the private REIT units had been classified as noncontrolling interests in our consolidated balance sheets and had a balance equal to the liquidation preference. </context> | us-gaap:PreferredStockRedemptionPricePerShare |
On July 18, 2022, we acquired a portfolio of properties through the purchase of a private REIT. The private REIT had 122 units of 12 % cumulative redeemable non-voting preferred units outstanding (the “private REIT units”) that were held by unaffiliated third parties. The private REIT units had a redemption price equal to $ 1,000 per unit upon redemption, or an aggregate price of $ 122,000 , plus any distributions thereon that had accrued but had not been paid at the time of such redemption (the “liquidation preference”), plus a redemption premium of $ 100 per unit if redeemed on or before December 31, 2024. On December 31, 2024, we redeemed all 122 private REIT units in the amount equal to $ 1,000 per unit plus a redemption premium of $ 100 per unit. Prior to their redemption, the private REIT units had been classified as noncontrolling interests in our consolidated balance sheets and had a balance equal to the liquidation preference. | text | 122000 | monetaryItemType | text: <entity> 122000 </entity> <entity type> monetaryItemType </entity type> <context> On July 18, 2022, we acquired a portfolio of properties through the purchase of a private REIT. The private REIT had 122 units of 12 % cumulative redeemable non-voting preferred units outstanding (the “private REIT units”) that were held by unaffiliated third parties. The private REIT units had a redemption price equal to $ 1,000 per unit upon redemption, or an aggregate price of $ 122,000 , plus any distributions thereon that had accrued but had not been paid at the time of such redemption (the “liquidation preference”), plus a redemption premium of $ 100 per unit if redeemed on or before December 31, 2024. On December 31, 2024, we redeemed all 122 private REIT units in the amount equal to $ 1,000 per unit plus a redemption premium of $ 100 per unit. Prior to their redemption, the private REIT units had been classified as noncontrolling interests in our consolidated balance sheets and had a balance equal to the liquidation preference. </context> | us-gaap:PreferredStockRedemptionAmount |
As of December 31, 2024, a total of 2,413,431 shares of common stock, LTIP units, Performance Units and other stock based awards remain available for issuance under the Plan. Shares and units granted under the Plan may be authorized but unissued shares or units, or, if authorized by the board of directors, shares purchased in the open market. If an award under the Plan is forfeited, expires, or is settled for cash, any shares or units subject to such award will generally be available for future awards. | text | 2413431 | sharesItemType | text: <entity> 2413431 </entity> <entity type> sharesItemType </entity type> <context> As of December 31, 2024, a total of 2,413,431 shares of common stock, LTIP units, Performance Units and other stock based awards remain available for issuance under the Plan. Shares and units granted under the Plan may be authorized but unissued shares or units, or, if authorized by the board of directors, shares purchased in the open market. If an award under the Plan is forfeited, expires, or is settled for cash, any shares or units subject to such award will generally be available for future awards. </context> | us-gaap:DeferredCompensationArrangementWithIndividualCommonStockReservedForFutureIssuance |
On December 31, 2024, 2023 and 2022, the three-year performance period for the 2021, 2020 and 2019 Performance Awards ended. Based on the Company’s TSR on an absolute and relative basis and the Company’s Core FFO per share growth over each award’s three-year performance period, the compensation committee certified that 121,129 , 219,607 and 231,453 Performance Units were earned and vested for the 2021, 2020 and 2019 Performance Awards, respectively. | text | 121129 | sharesItemType | text: <entity> 121129 </entity> <entity type> sharesItemType </entity type> <context> On December 31, 2024, 2023 and 2022, the three-year performance period for the 2021, 2020 and 2019 Performance Awards ended. Based on the Company’s TSR on an absolute and relative basis and the Company’s Core FFO per share growth over each award’s three-year performance period, the compensation committee certified that 121,129 , 219,607 and 231,453 Performance Units were earned and vested for the 2021, 2020 and 2019 Performance Awards, respectively. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod |
On December 31, 2024, 2023 and 2022, the three-year performance period for the 2021, 2020 and 2019 Performance Awards ended. Based on the Company’s TSR on an absolute and relative basis and the Company’s Core FFO per share growth over each award’s three-year performance period, the compensation committee certified that 121,129 , 219,607 and 231,453 Performance Units were earned and vested for the 2021, 2020 and 2019 Performance Awards, respectively. | text | 219607 | sharesItemType | text: <entity> 219607 </entity> <entity type> sharesItemType </entity type> <context> On December 31, 2024, 2023 and 2022, the three-year performance period for the 2021, 2020 and 2019 Performance Awards ended. Based on the Company’s TSR on an absolute and relative basis and the Company’s Core FFO per share growth over each award’s three-year performance period, the compensation committee certified that 121,129 , 219,607 and 231,453 Performance Units were earned and vested for the 2021, 2020 and 2019 Performance Awards, respectively. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod |
On December 31, 2024, 2023 and 2022, the three-year performance period for the 2021, 2020 and 2019 Performance Awards ended. Based on the Company’s TSR on an absolute and relative basis and the Company’s Core FFO per share growth over each award’s three-year performance period, the compensation committee certified that 121,129 , 219,607 and 231,453 Performance Units were earned and vested for the 2021, 2020 and 2019 Performance Awards, respectively. | text | 231453 | sharesItemType | text: <entity> 231453 </entity> <entity type> sharesItemType </entity type> <context> On December 31, 2024, 2023 and 2022, the three-year performance period for the 2021, 2020 and 2019 Performance Awards ended. Based on the Company’s TSR on an absolute and relative basis and the Company’s Core FFO per share growth over each award’s three-year performance period, the compensation committee certified that 121,129 , 219,607 and 231,453 Performance Units were earned and vested for the 2021, 2020 and 2019 Performance Awards, respectively. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod |
The compensation committee periodically grants awards of restricted common stock to various employees of the Company, typically other than NEOs, for the purpose of attracting or retaining the services of these key individuals. These grants typically vest in four equal, annual installments on each of the first four anniversaries of the grant date, subject to the employee’s continued service. Shares of our restricted common stock are participating securities and have full voting rights and nonforfeitable rights to dividends. During the years ended December 31, 2024, 2023 and 2022, we granted 215,905 , 188,468 and 120,662 shares, respectively, of restricted common stock to non-executive employees. The grant date fair value of these awards was $ 11.9 million, $ 11.2 million and $ 8.3 million based on the closing share price of the Company’s common stock on the date of grant, which ranged from $ 44.68 and $ 55.08 per share, $ 47.10 to $ 64.39 per share and $ 52.97 to $ 76.55 per share, for the years ended December 31, 2024, 2023 and 2022, respectively. On November 18, 2024, Mr. Michael Fitzmaurice was granted 12,880 shares of restricted common stock as a sign-on incentive award, which vests in three equal annual installments on each of the first three anniversaries of the grant date. The grant date fair value of this award was $ 0.55 million based on the Company’s closing share price of $ 42.70 on the grant date. | text | 215905 | sharesItemType | text: <entity> 215905 </entity> <entity type> sharesItemType </entity type> <context> The compensation committee periodically grants awards of restricted common stock to various employees of the Company, typically other than NEOs, for the purpose of attracting or retaining the services of these key individuals. These grants typically vest in four equal, annual installments on each of the first four anniversaries of the grant date, subject to the employee’s continued service. Shares of our restricted common stock are participating securities and have full voting rights and nonforfeitable rights to dividends. During the years ended December 31, 2024, 2023 and 2022, we granted 215,905 , 188,468 and 120,662 shares, respectively, of restricted common stock to non-executive employees. The grant date fair value of these awards was $ 11.9 million, $ 11.2 million and $ 8.3 million based on the closing share price of the Company’s common stock on the date of grant, which ranged from $ 44.68 and $ 55.08 per share, $ 47.10 to $ 64.39 per share and $ 52.97 to $ 76.55 per share, for the years ended December 31, 2024, 2023 and 2022, respectively. On November 18, 2024, Mr. Michael Fitzmaurice was granted 12,880 shares of restricted common stock as a sign-on incentive award, which vests in three equal annual installments on each of the first three anniversaries of the grant date. The grant date fair value of this award was $ 0.55 million based on the Company’s closing share price of $ 42.70 on the grant date. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod |
The compensation committee periodically grants awards of restricted common stock to various employees of the Company, typically other than NEOs, for the purpose of attracting or retaining the services of these key individuals. These grants typically vest in four equal, annual installments on each of the first four anniversaries of the grant date, subject to the employee’s continued service. Shares of our restricted common stock are participating securities and have full voting rights and nonforfeitable rights to dividends. During the years ended December 31, 2024, 2023 and 2022, we granted 215,905 , 188,468 and 120,662 shares, respectively, of restricted common stock to non-executive employees. The grant date fair value of these awards was $ 11.9 million, $ 11.2 million and $ 8.3 million based on the closing share price of the Company’s common stock on the date of grant, which ranged from $ 44.68 and $ 55.08 per share, $ 47.10 to $ 64.39 per share and $ 52.97 to $ 76.55 per share, for the years ended December 31, 2024, 2023 and 2022, respectively. On November 18, 2024, Mr. Michael Fitzmaurice was granted 12,880 shares of restricted common stock as a sign-on incentive award, which vests in three equal annual installments on each of the first three anniversaries of the grant date. The grant date fair value of this award was $ 0.55 million based on the Company’s closing share price of $ 42.70 on the grant date. | text | 188468 | sharesItemType | text: <entity> 188468 </entity> <entity type> sharesItemType </entity type> <context> The compensation committee periodically grants awards of restricted common stock to various employees of the Company, typically other than NEOs, for the purpose of attracting or retaining the services of these key individuals. These grants typically vest in four equal, annual installments on each of the first four anniversaries of the grant date, subject to the employee’s continued service. Shares of our restricted common stock are participating securities and have full voting rights and nonforfeitable rights to dividends. During the years ended December 31, 2024, 2023 and 2022, we granted 215,905 , 188,468 and 120,662 shares, respectively, of restricted common stock to non-executive employees. The grant date fair value of these awards was $ 11.9 million, $ 11.2 million and $ 8.3 million based on the closing share price of the Company’s common stock on the date of grant, which ranged from $ 44.68 and $ 55.08 per share, $ 47.10 to $ 64.39 per share and $ 52.97 to $ 76.55 per share, for the years ended December 31, 2024, 2023 and 2022, respectively. On November 18, 2024, Mr. Michael Fitzmaurice was granted 12,880 shares of restricted common stock as a sign-on incentive award, which vests in three equal annual installments on each of the first three anniversaries of the grant date. The grant date fair value of this award was $ 0.55 million based on the Company’s closing share price of $ 42.70 on the grant date. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod |
The compensation committee periodically grants awards of restricted common stock to various employees of the Company, typically other than NEOs, for the purpose of attracting or retaining the services of these key individuals. These grants typically vest in four equal, annual installments on each of the first four anniversaries of the grant date, subject to the employee’s continued service. Shares of our restricted common stock are participating securities and have full voting rights and nonforfeitable rights to dividends. During the years ended December 31, 2024, 2023 and 2022, we granted 215,905 , 188,468 and 120,662 shares, respectively, of restricted common stock to non-executive employees. The grant date fair value of these awards was $ 11.9 million, $ 11.2 million and $ 8.3 million based on the closing share price of the Company’s common stock on the date of grant, which ranged from $ 44.68 and $ 55.08 per share, $ 47.10 to $ 64.39 per share and $ 52.97 to $ 76.55 per share, for the years ended December 31, 2024, 2023 and 2022, respectively. On November 18, 2024, Mr. Michael Fitzmaurice was granted 12,880 shares of restricted common stock as a sign-on incentive award, which vests in three equal annual installments on each of the first three anniversaries of the grant date. The grant date fair value of this award was $ 0.55 million based on the Company’s closing share price of $ 42.70 on the grant date. | text | 120662 | sharesItemType | text: <entity> 120662 </entity> <entity type> sharesItemType </entity type> <context> The compensation committee periodically grants awards of restricted common stock to various employees of the Company, typically other than NEOs, for the purpose of attracting or retaining the services of these key individuals. These grants typically vest in four equal, annual installments on each of the first four anniversaries of the grant date, subject to the employee’s continued service. Shares of our restricted common stock are participating securities and have full voting rights and nonforfeitable rights to dividends. During the years ended December 31, 2024, 2023 and 2022, we granted 215,905 , 188,468 and 120,662 shares, respectively, of restricted common stock to non-executive employees. The grant date fair value of these awards was $ 11.9 million, $ 11.2 million and $ 8.3 million based on the closing share price of the Company’s common stock on the date of grant, which ranged from $ 44.68 and $ 55.08 per share, $ 47.10 to $ 64.39 per share and $ 52.97 to $ 76.55 per share, for the years ended December 31, 2024, 2023 and 2022, respectively. On November 18, 2024, Mr. Michael Fitzmaurice was granted 12,880 shares of restricted common stock as a sign-on incentive award, which vests in three equal annual installments on each of the first three anniversaries of the grant date. The grant date fair value of this award was $ 0.55 million based on the Company’s closing share price of $ 42.70 on the grant date. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod |
The compensation committee periodically grants awards of restricted common stock to various employees of the Company, typically other than NEOs, for the purpose of attracting or retaining the services of these key individuals. These grants typically vest in four equal, annual installments on each of the first four anniversaries of the grant date, subject to the employee’s continued service. Shares of our restricted common stock are participating securities and have full voting rights and nonforfeitable rights to dividends. During the years ended December 31, 2024, 2023 and 2022, we granted 215,905 , 188,468 and 120,662 shares, respectively, of restricted common stock to non-executive employees. The grant date fair value of these awards was $ 11.9 million, $ 11.2 million and $ 8.3 million based on the closing share price of the Company’s common stock on the date of grant, which ranged from $ 44.68 and $ 55.08 per share, $ 47.10 to $ 64.39 per share and $ 52.97 to $ 76.55 per share, for the years ended December 31, 2024, 2023 and 2022, respectively. On November 18, 2024, Mr. Michael Fitzmaurice was granted 12,880 shares of restricted common stock as a sign-on incentive award, which vests in three equal annual installments on each of the first three anniversaries of the grant date. The grant date fair value of this award was $ 0.55 million based on the Company’s closing share price of $ 42.70 on the grant date. | text | 44.68 | perShareItemType | text: <entity> 44.68 </entity> <entity type> perShareItemType </entity type> <context> The compensation committee periodically grants awards of restricted common stock to various employees of the Company, typically other than NEOs, for the purpose of attracting or retaining the services of these key individuals. These grants typically vest in four equal, annual installments on each of the first four anniversaries of the grant date, subject to the employee’s continued service. Shares of our restricted common stock are participating securities and have full voting rights and nonforfeitable rights to dividends. During the years ended December 31, 2024, 2023 and 2022, we granted 215,905 , 188,468 and 120,662 shares, respectively, of restricted common stock to non-executive employees. The grant date fair value of these awards was $ 11.9 million, $ 11.2 million and $ 8.3 million based on the closing share price of the Company’s common stock on the date of grant, which ranged from $ 44.68 and $ 55.08 per share, $ 47.10 to $ 64.39 per share and $ 52.97 to $ 76.55 per share, for the years ended December 31, 2024, 2023 and 2022, respectively. On November 18, 2024, Mr. Michael Fitzmaurice was granted 12,880 shares of restricted common stock as a sign-on incentive award, which vests in three equal annual installments on each of the first three anniversaries of the grant date. The grant date fair value of this award was $ 0.55 million based on the Company’s closing share price of $ 42.70 on the grant date. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue |
The compensation committee periodically grants awards of restricted common stock to various employees of the Company, typically other than NEOs, for the purpose of attracting or retaining the services of these key individuals. These grants typically vest in four equal, annual installments on each of the first four anniversaries of the grant date, subject to the employee’s continued service. Shares of our restricted common stock are participating securities and have full voting rights and nonforfeitable rights to dividends. During the years ended December 31, 2024, 2023 and 2022, we granted 215,905 , 188,468 and 120,662 shares, respectively, of restricted common stock to non-executive employees. The grant date fair value of these awards was $ 11.9 million, $ 11.2 million and $ 8.3 million based on the closing share price of the Company’s common stock on the date of grant, which ranged from $ 44.68 and $ 55.08 per share, $ 47.10 to $ 64.39 per share and $ 52.97 to $ 76.55 per share, for the years ended December 31, 2024, 2023 and 2022, respectively. On November 18, 2024, Mr. Michael Fitzmaurice was granted 12,880 shares of restricted common stock as a sign-on incentive award, which vests in three equal annual installments on each of the first three anniversaries of the grant date. The grant date fair value of this award was $ 0.55 million based on the Company’s closing share price of $ 42.70 on the grant date. | text | 55.08 | perShareItemType | text: <entity> 55.08 </entity> <entity type> perShareItemType </entity type> <context> The compensation committee periodically grants awards of restricted common stock to various employees of the Company, typically other than NEOs, for the purpose of attracting or retaining the services of these key individuals. These grants typically vest in four equal, annual installments on each of the first four anniversaries of the grant date, subject to the employee’s continued service. Shares of our restricted common stock are participating securities and have full voting rights and nonforfeitable rights to dividends. During the years ended December 31, 2024, 2023 and 2022, we granted 215,905 , 188,468 and 120,662 shares, respectively, of restricted common stock to non-executive employees. The grant date fair value of these awards was $ 11.9 million, $ 11.2 million and $ 8.3 million based on the closing share price of the Company’s common stock on the date of grant, which ranged from $ 44.68 and $ 55.08 per share, $ 47.10 to $ 64.39 per share and $ 52.97 to $ 76.55 per share, for the years ended December 31, 2024, 2023 and 2022, respectively. On November 18, 2024, Mr. Michael Fitzmaurice was granted 12,880 shares of restricted common stock as a sign-on incentive award, which vests in three equal annual installments on each of the first three anniversaries of the grant date. The grant date fair value of this award was $ 0.55 million based on the Company’s closing share price of $ 42.70 on the grant date. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue |
The compensation committee periodically grants awards of restricted common stock to various employees of the Company, typically other than NEOs, for the purpose of attracting or retaining the services of these key individuals. These grants typically vest in four equal, annual installments on each of the first four anniversaries of the grant date, subject to the employee’s continued service. Shares of our restricted common stock are participating securities and have full voting rights and nonforfeitable rights to dividends. During the years ended December 31, 2024, 2023 and 2022, we granted 215,905 , 188,468 and 120,662 shares, respectively, of restricted common stock to non-executive employees. The grant date fair value of these awards was $ 11.9 million, $ 11.2 million and $ 8.3 million based on the closing share price of the Company’s common stock on the date of grant, which ranged from $ 44.68 and $ 55.08 per share, $ 47.10 to $ 64.39 per share and $ 52.97 to $ 76.55 per share, for the years ended December 31, 2024, 2023 and 2022, respectively. On November 18, 2024, Mr. Michael Fitzmaurice was granted 12,880 shares of restricted common stock as a sign-on incentive award, which vests in three equal annual installments on each of the first three anniversaries of the grant date. The grant date fair value of this award was $ 0.55 million based on the Company’s closing share price of $ 42.70 on the grant date. | text | 47.10 | perShareItemType | text: <entity> 47.10 </entity> <entity type> perShareItemType </entity type> <context> The compensation committee periodically grants awards of restricted common stock to various employees of the Company, typically other than NEOs, for the purpose of attracting or retaining the services of these key individuals. These grants typically vest in four equal, annual installments on each of the first four anniversaries of the grant date, subject to the employee’s continued service. Shares of our restricted common stock are participating securities and have full voting rights and nonforfeitable rights to dividends. During the years ended December 31, 2024, 2023 and 2022, we granted 215,905 , 188,468 and 120,662 shares, respectively, of restricted common stock to non-executive employees. The grant date fair value of these awards was $ 11.9 million, $ 11.2 million and $ 8.3 million based on the closing share price of the Company’s common stock on the date of grant, which ranged from $ 44.68 and $ 55.08 per share, $ 47.10 to $ 64.39 per share and $ 52.97 to $ 76.55 per share, for the years ended December 31, 2024, 2023 and 2022, respectively. On November 18, 2024, Mr. Michael Fitzmaurice was granted 12,880 shares of restricted common stock as a sign-on incentive award, which vests in three equal annual installments on each of the first three anniversaries of the grant date. The grant date fair value of this award was $ 0.55 million based on the Company’s closing share price of $ 42.70 on the grant date. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue |
The compensation committee periodically grants awards of restricted common stock to various employees of the Company, typically other than NEOs, for the purpose of attracting or retaining the services of these key individuals. These grants typically vest in four equal, annual installments on each of the first four anniversaries of the grant date, subject to the employee’s continued service. Shares of our restricted common stock are participating securities and have full voting rights and nonforfeitable rights to dividends. During the years ended December 31, 2024, 2023 and 2022, we granted 215,905 , 188,468 and 120,662 shares, respectively, of restricted common stock to non-executive employees. The grant date fair value of these awards was $ 11.9 million, $ 11.2 million and $ 8.3 million based on the closing share price of the Company’s common stock on the date of grant, which ranged from $ 44.68 and $ 55.08 per share, $ 47.10 to $ 64.39 per share and $ 52.97 to $ 76.55 per share, for the years ended December 31, 2024, 2023 and 2022, respectively. On November 18, 2024, Mr. Michael Fitzmaurice was granted 12,880 shares of restricted common stock as a sign-on incentive award, which vests in three equal annual installments on each of the first three anniversaries of the grant date. The grant date fair value of this award was $ 0.55 million based on the Company’s closing share price of $ 42.70 on the grant date. | text | 64.39 | perShareItemType | text: <entity> 64.39 </entity> <entity type> perShareItemType </entity type> <context> The compensation committee periodically grants awards of restricted common stock to various employees of the Company, typically other than NEOs, for the purpose of attracting or retaining the services of these key individuals. These grants typically vest in four equal, annual installments on each of the first four anniversaries of the grant date, subject to the employee’s continued service. Shares of our restricted common stock are participating securities and have full voting rights and nonforfeitable rights to dividends. During the years ended December 31, 2024, 2023 and 2022, we granted 215,905 , 188,468 and 120,662 shares, respectively, of restricted common stock to non-executive employees. The grant date fair value of these awards was $ 11.9 million, $ 11.2 million and $ 8.3 million based on the closing share price of the Company’s common stock on the date of grant, which ranged from $ 44.68 and $ 55.08 per share, $ 47.10 to $ 64.39 per share and $ 52.97 to $ 76.55 per share, for the years ended December 31, 2024, 2023 and 2022, respectively. On November 18, 2024, Mr. Michael Fitzmaurice was granted 12,880 shares of restricted common stock as a sign-on incentive award, which vests in three equal annual installments on each of the first three anniversaries of the grant date. The grant date fair value of this award was $ 0.55 million based on the Company’s closing share price of $ 42.70 on the grant date. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue |
The compensation committee periodically grants awards of restricted common stock to various employees of the Company, typically other than NEOs, for the purpose of attracting or retaining the services of these key individuals. These grants typically vest in four equal, annual installments on each of the first four anniversaries of the grant date, subject to the employee’s continued service. Shares of our restricted common stock are participating securities and have full voting rights and nonforfeitable rights to dividends. During the years ended December 31, 2024, 2023 and 2022, we granted 215,905 , 188,468 and 120,662 shares, respectively, of restricted common stock to non-executive employees. The grant date fair value of these awards was $ 11.9 million, $ 11.2 million and $ 8.3 million based on the closing share price of the Company’s common stock on the date of grant, which ranged from $ 44.68 and $ 55.08 per share, $ 47.10 to $ 64.39 per share and $ 52.97 to $ 76.55 per share, for the years ended December 31, 2024, 2023 and 2022, respectively. On November 18, 2024, Mr. Michael Fitzmaurice was granted 12,880 shares of restricted common stock as a sign-on incentive award, which vests in three equal annual installments on each of the first three anniversaries of the grant date. The grant date fair value of this award was $ 0.55 million based on the Company’s closing share price of $ 42.70 on the grant date. | text | 52.97 | perShareItemType | text: <entity> 52.97 </entity> <entity type> perShareItemType </entity type> <context> The compensation committee periodically grants awards of restricted common stock to various employees of the Company, typically other than NEOs, for the purpose of attracting or retaining the services of these key individuals. These grants typically vest in four equal, annual installments on each of the first four anniversaries of the grant date, subject to the employee’s continued service. Shares of our restricted common stock are participating securities and have full voting rights and nonforfeitable rights to dividends. During the years ended December 31, 2024, 2023 and 2022, we granted 215,905 , 188,468 and 120,662 shares, respectively, of restricted common stock to non-executive employees. The grant date fair value of these awards was $ 11.9 million, $ 11.2 million and $ 8.3 million based on the closing share price of the Company’s common stock on the date of grant, which ranged from $ 44.68 and $ 55.08 per share, $ 47.10 to $ 64.39 per share and $ 52.97 to $ 76.55 per share, for the years ended December 31, 2024, 2023 and 2022, respectively. On November 18, 2024, Mr. Michael Fitzmaurice was granted 12,880 shares of restricted common stock as a sign-on incentive award, which vests in three equal annual installments on each of the first three anniversaries of the grant date. The grant date fair value of this award was $ 0.55 million based on the Company’s closing share price of $ 42.70 on the grant date. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue |
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