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—On July 31, 2023, we amended three senior unsecured term loans with a total notional amount of $ 475 million scheduled to mature during 2024. The three senior unsecured term loans, as amended, have a total notional amount of $ 484.8 million. The $ 161.8 million unsecured term loan is priced based on a leverage grid, which is currently at SOFR plus 1.35 % and is scheduled to mature on January 31, 2026 extendable with two one -year options to 2028. The $ 158 million and $ 165 million unsecured term loans are priced based on a leverage grid, which is currently at SOFR plus 1.35 % and mature on January 31, 2027. | text | 158 | monetaryItemType | text: <entity> 158 </entity> <entity type> monetaryItemType </entity type> <context> —On July 31, 2023, we amended three senior unsecured term loans with a total notional amount of $ 475 million scheduled to mature during 2024. The three senior unsecured term loans, as amended, have a total notional amount of $ 484.8 million. The $ 161.8 million unsecured term loan is priced based on a leverage grid, which is currently at SOFR plus 1.35 % and is scheduled to mature on January 31, 2026 extendable with two one -year options to 2028. The $ 158 million and $ 165 million unsecured term loans are priced based on a leverage grid, which is currently at SOFR plus 1.35 % and mature on January 31, 2027. </context> | us-gaap:DebtInstrumentFaceAmount |
—On July 31, 2023, we amended three senior unsecured term loans with a total notional amount of $ 475 million scheduled to mature during 2024. The three senior unsecured term loans, as amended, have a total notional amount of $ 484.8 million. The $ 161.8 million unsecured term loan is priced based on a leverage grid, which is currently at SOFR plus 1.35 % and is scheduled to mature on January 31, 2026 extendable with two one -year options to 2028. The $ 158 million and $ 165 million unsecured term loans are priced based on a leverage grid, which is currently at SOFR plus 1.35 % and mature on January 31, 2027. | text | 165 | monetaryItemType | text: <entity> 165 </entity> <entity type> monetaryItemType </entity type> <context> —On July 31, 2023, we amended three senior unsecured term loans with a total notional amount of $ 475 million scheduled to mature during 2024. The three senior unsecured term loans, as amended, have a total notional amount of $ 484.8 million. The $ 161.8 million unsecured term loan is priced based on a leverage grid, which is currently at SOFR plus 1.35 % and is scheduled to mature on January 31, 2026 extendable with two one -year options to 2028. The $ 158 million and $ 165 million unsecured term loans are priced based on a leverage grid, which is currently at SOFR plus 1.35 % and mature on January 31, 2027. </context> | us-gaap:DebtInstrumentFaceAmount |
During the year ended December 31, 2023, we repaid $ 47.3 million in mortgage debt. | text | 47.3 | monetaryItemType | text: <entity> 47.3 </entity> <entity type> monetaryItemType </entity type> <context> During the year ended December 31, 2023, we repaid $ 47.3 million in mortgage debt. </context> | us-gaap:RepaymentsOfLongTermDebt |
—In May 2022, we amended our credit facility agreement (the “Amendment”) to, among other things, increase the total amount available under our unsecured revolving credit facility from $ 500 million to $ 800 million. The unsecured revolving credit facility also includes an accordion feature that permits us to increase our aggregate borrowing capacity thereunder to up to $ 1 billion, subject to the satisfaction of certain conditions. The unsecured revolving credit facility is scheduled to mature in January 2026, extendable at our option to January 2027. In addition to expanding the borrowing capacity, the Amendment replaced the London Interbank Offered Rate (“LIBOR”) with SOFR as the benchmark interest rate for the unsecured revolving credit facility and the two $ 240 million senior unsecured term loan tranches, maturing in November 2025 and July 2026. In August 2022, we amended two of our interest rate swaps with a total notional amount of $ 430 million to replace LIBOR with SOFR as the benchmark interest rate in conjunction with the Amendment (see Note 9 | text | 500 | monetaryItemType | text: <entity> 500 </entity> <entity type> monetaryItemType </entity type> <context> —In May 2022, we amended our credit facility agreement (the “Amendment”) to, among other things, increase the total amount available under our unsecured revolving credit facility from $ 500 million to $ 800 million. The unsecured revolving credit facility also includes an accordion feature that permits us to increase our aggregate borrowing capacity thereunder to up to $ 1 billion, subject to the satisfaction of certain conditions. The unsecured revolving credit facility is scheduled to mature in January 2026, extendable at our option to January 2027. In addition to expanding the borrowing capacity, the Amendment replaced the London Interbank Offered Rate (“LIBOR”) with SOFR as the benchmark interest rate for the unsecured revolving credit facility and the two $ 240 million senior unsecured term loan tranches, maturing in November 2025 and July 2026. In August 2022, we amended two of our interest rate swaps with a total notional amount of $ 430 million to replace LIBOR with SOFR as the benchmark interest rate in conjunction with the Amendment (see Note 9 </context> | us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity |
—In May 2022, we amended our credit facility agreement (the “Amendment”) to, among other things, increase the total amount available under our unsecured revolving credit facility from $ 500 million to $ 800 million. The unsecured revolving credit facility also includes an accordion feature that permits us to increase our aggregate borrowing capacity thereunder to up to $ 1 billion, subject to the satisfaction of certain conditions. The unsecured revolving credit facility is scheduled to mature in January 2026, extendable at our option to January 2027. In addition to expanding the borrowing capacity, the Amendment replaced the London Interbank Offered Rate (“LIBOR”) with SOFR as the benchmark interest rate for the unsecured revolving credit facility and the two $ 240 million senior unsecured term loan tranches, maturing in November 2025 and July 2026. In August 2022, we amended two of our interest rate swaps with a total notional amount of $ 430 million to replace LIBOR with SOFR as the benchmark interest rate in conjunction with the Amendment (see Note 9 | text | 800 | monetaryItemType | text: <entity> 800 </entity> <entity type> monetaryItemType </entity type> <context> —In May 2022, we amended our credit facility agreement (the “Amendment”) to, among other things, increase the total amount available under our unsecured revolving credit facility from $ 500 million to $ 800 million. The unsecured revolving credit facility also includes an accordion feature that permits us to increase our aggregate borrowing capacity thereunder to up to $ 1 billion, subject to the satisfaction of certain conditions. The unsecured revolving credit facility is scheduled to mature in January 2026, extendable at our option to January 2027. In addition to expanding the borrowing capacity, the Amendment replaced the London Interbank Offered Rate (“LIBOR”) with SOFR as the benchmark interest rate for the unsecured revolving credit facility and the two $ 240 million senior unsecured term loan tranches, maturing in November 2025 and July 2026. In August 2022, we amended two of our interest rate swaps with a total notional amount of $ 430 million to replace LIBOR with SOFR as the benchmark interest rate in conjunction with the Amendment (see Note 9 </context> | us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity |
—In May 2022, we amended our credit facility agreement (the “Amendment”) to, among other things, increase the total amount available under our unsecured revolving credit facility from $ 500 million to $ 800 million. The unsecured revolving credit facility also includes an accordion feature that permits us to increase our aggregate borrowing capacity thereunder to up to $ 1 billion, subject to the satisfaction of certain conditions. The unsecured revolving credit facility is scheduled to mature in January 2026, extendable at our option to January 2027. In addition to expanding the borrowing capacity, the Amendment replaced the London Interbank Offered Rate (“LIBOR”) with SOFR as the benchmark interest rate for the unsecured revolving credit facility and the two $ 240 million senior unsecured term loan tranches, maturing in November 2025 and July 2026. In August 2022, we amended two of our interest rate swaps with a total notional amount of $ 430 million to replace LIBOR with SOFR as the benchmark interest rate in conjunction with the Amendment (see Note 9 | text | 430 | monetaryItemType | text: <entity> 430 </entity> <entity type> monetaryItemType </entity type> <context> —In May 2022, we amended our credit facility agreement (the “Amendment”) to, among other things, increase the total amount available under our unsecured revolving credit facility from $ 500 million to $ 800 million. The unsecured revolving credit facility also includes an accordion feature that permits us to increase our aggregate borrowing capacity thereunder to up to $ 1 billion, subject to the satisfaction of certain conditions. The unsecured revolving credit facility is scheduled to mature in January 2026, extendable at our option to January 2027. In addition to expanding the borrowing capacity, the Amendment replaced the London Interbank Offered Rate (“LIBOR”) with SOFR as the benchmark interest rate for the unsecured revolving credit facility and the two $ 240 million senior unsecured term loan tranches, maturing in November 2025 and July 2026. In August 2022, we amended two of our interest rate swaps with a total notional amount of $ 430 million to replace LIBOR with SOFR as the benchmark interest rate in conjunction with the Amendment (see Note 9 </context> | us-gaap:DerivativeNotionalAmount |
In November 2022, we amended our three remaining LIBOR term loans with a notional amount of $ 475 million to replace LIBOR with SOFR as the benchmark interest rate. In December 2022, our two remaining LIBOR swaps with a total notional amount of $ 325 million were amended to transition from LIBOR to SOFR as the benchmark interest rate (see Note 9 | text | 475 | monetaryItemType | text: <entity> 475 </entity> <entity type> monetaryItemType </entity type> <context> In November 2022, we amended our three remaining LIBOR term loans with a notional amount of $ 475 million to replace LIBOR with SOFR as the benchmark interest rate. In December 2022, our two remaining LIBOR swaps with a total notional amount of $ 325 million were amended to transition from LIBOR to SOFR as the benchmark interest rate (see Note 9 </context> | us-gaap:DebtInstrumentFaceAmount |
In November 2022, we amended our three remaining LIBOR term loans with a notional amount of $ 475 million to replace LIBOR with SOFR as the benchmark interest rate. In December 2022, our two remaining LIBOR swaps with a total notional amount of $ 325 million were amended to transition from LIBOR to SOFR as the benchmark interest rate (see Note 9 | text | 325 | monetaryItemType | text: <entity> 325 </entity> <entity type> monetaryItemType </entity type> <context> In November 2022, we amended our three remaining LIBOR term loans with a notional amount of $ 475 million to replace LIBOR with SOFR as the benchmark interest rate. In December 2022, our two remaining LIBOR swaps with a total notional amount of $ 325 million were amended to transition from LIBOR to SOFR as the benchmark interest rate (see Note 9 </context> | us-gaap:DebtInstrumentFaceAmount |
During the year ended December 31, 2022, we repaid $ 80.1 million in mortgage debt. | text | 80.1 | monetaryItemType | text: <entity> 80.1 </entity> <entity type> monetaryItemType </entity type> <context> During the year ended December 31, 2022, we repaid $ 80.1 million in mortgage debt. </context> | us-gaap:RepaymentsOfLongTermDebt |
—We have an $ 800 million senior unsecured revolving credit facility with availability of $ 606.6 million, which is net of current letters of credit, as of December 31, 2023. The maturity date is January 2026, and we pay a facility fee of 0.25 % on the total amount under the facility. | text | 800 | monetaryItemType | text: <entity> 800 </entity> <entity type> monetaryItemType </entity type> <context> —We have an $ 800 million senior unsecured revolving credit facility with availability of $ 606.6 million, which is net of current letters of credit, as of December 31, 2023. The maturity date is January 2026, and we pay a facility fee of 0.25 % on the total amount under the facility. </context> | us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity |
—We have an $ 800 million senior unsecured revolving credit facility with availability of $ 606.6 million, which is net of current letters of credit, as of December 31, 2023. The maturity date is January 2026, and we pay a facility fee of 0.25 % on the total amount under the facility. | text | 606.6 | monetaryItemType | text: <entity> 606.6 </entity> <entity type> monetaryItemType </entity type> <context> —We have an $ 800 million senior unsecured revolving credit facility with availability of $ 606.6 million, which is net of current letters of credit, as of December 31, 2023. The maturity date is January 2026, and we pay a facility fee of 0.25 % on the total amount under the facility. </context> | us-gaap:LineOfCreditFacilityRemainingBorrowingCapacity |
—We have an $ 800 million senior unsecured revolving credit facility with availability of $ 606.6 million, which is net of current letters of credit, as of December 31, 2023. The maturity date is January 2026, and we pay a facility fee of 0.25 % on the total amount under the facility. | text | 0.25 | percentItemType | text: <entity> 0.25 </entity> <entity type> percentItemType </entity type> <context> —We have an $ 800 million senior unsecured revolving credit facility with availability of $ 606.6 million, which is net of current letters of credit, as of December 31, 2023. The maturity date is January 2026, and we pay a facility fee of 0.25 % on the total amount under the facility. </context> | us-gaap:LineOfCreditFacilityCommitmentFeePercentage |
—We have five unsecured term loans with maturities ranging from 2025 to 2027. Our term loans have interest rates of SOFR plus interest rate spreads based on our investment grade rating. We have utilized interest rate swaps to fix the rates on the majority of our term loans, with $ 264.8 million in term loans not fixed through such swaps. | text | 264.8 | monetaryItemType | text: <entity> 264.8 </entity> <entity type> monetaryItemType </entity type> <context> —We have five unsecured term loans with maturities ranging from 2025 to 2027. Our term loans have interest rates of SOFR plus interest rate spreads based on our investment grade rating. We have utilized interest rate swaps to fix the rates on the majority of our term loans, with $ 264.8 million in term loans not fixed through such swaps. </context> | us-gaap:LongtermDebtPercentageBearingVariableInterestAmount |
As of December 31, 2023 and 2022, the weighted-average interest rate, including the impact of swaps, on our term loans was 4.7 % and 3.8 %, respectively. | text | 4.7 | percentItemType | text: <entity> 4.7 </entity> <entity type> percentItemType </entity type> <context> As of December 31, 2023 and 2022, the weighted-average interest rate, including the impact of swaps, on our term loans was 4.7 % and 3.8 %, respectively. </context> | us-gaap:LongtermDebtWeightedAverageInterestRate |
As of December 31, 2023 and 2022, the weighted-average interest rate, including the impact of swaps, on our term loans was 4.7 % and 3.8 %, respectively. | text | 3.8 | percentItemType | text: <entity> 3.8 </entity> <entity type> percentItemType </entity type> <context> As of December 31, 2023 and 2022, the weighted-average interest rate, including the impact of swaps, on our term loans was 4.7 % and 3.8 %, respectively. </context> | us-gaap:LongtermDebtWeightedAverageInterestRate |
—Our secured debt includes two facilities secured by certain properties in our portfolio, mortgage loans secured by individual properties, and finance leases. The interest rates on our secured debt are fixed. As of December 31, 2023 and 2022, our weighted average interest rate for our secured debt was 3.7 % and 3.8 %, respectively. | text | 3.7 | percentItemType | text: <entity> 3.7 </entity> <entity type> percentItemType </entity type> <context> —Our secured debt includes two facilities secured by certain properties in our portfolio, mortgage loans secured by individual properties, and finance leases. The interest rates on our secured debt are fixed. As of December 31, 2023 and 2022, our weighted average interest rate for our secured debt was 3.7 % and 3.8 %, respectively. </context> | us-gaap:LongtermDebtWeightedAverageInterestRate |
—Our secured debt includes two facilities secured by certain properties in our portfolio, mortgage loans secured by individual properties, and finance leases. The interest rates on our secured debt are fixed. As of December 31, 2023 and 2022, our weighted average interest rate for our secured debt was 3.7 % and 3.8 %, respectively. | text | 3.8 | percentItemType | text: <entity> 3.8 </entity> <entity type> percentItemType </entity type> <context> —Our secured debt includes two facilities secured by certain properties in our portfolio, mortgage loans secured by individual properties, and finance leases. The interest rates on our secured debt are fixed. As of December 31, 2023 and 2022, our weighted average interest rate for our secured debt was 3.7 % and 3.8 %, respectively. </context> | us-gaap:LongtermDebtWeightedAverageInterestRate |
Fixed-rate debt includes, and variable-rate debt excludes, the portion of such debt that has been hedged by interest rate derivatives. As of December 31, 2023, $ 700 million in variable rate debt is hedged to a fixed rate for a weighted-average period of 1.5 years (see Notes 9 and 16). | text | 700 | monetaryItemType | text: <entity> 700 </entity> <entity type> monetaryItemType </entity type> <context> Fixed-rate debt includes, and variable-rate debt excludes, the portion of such debt that has been hedged by interest rate derivatives. As of December 31, 2023, $ 700 million in variable rate debt is hedged to a fixed rate for a weighted-average period of 1.5 years (see Notes 9 and 16). </context> | us-gaap:HedgedLiabilityFairValueHedge |
The changes in the fair value of derivatives designated, and that qualify, as cash flow hedges are recorded in AOCI and are subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. During the years ended December 31, 2023 and 2022, such derivatives were used to hedge the variable cash flows associated with certain variable-rate debt. Amounts reported in AOCI related to these derivatives will be reclassified to Interest Expense, Net as interest payments are made on the variable-rate debt. During the next twelve months, we estimate that an additional $ 11.5 million will be reclassified from AOCI as a decrease to Interest Expense, Net. | text | 11.5 | monetaryItemType | text: <entity> 11.5 </entity> <entity type> monetaryItemType </entity type> <context> The changes in the fair value of derivatives designated, and that qualify, as cash flow hedges are recorded in AOCI and are subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. During the years ended December 31, 2023 and 2022, such derivatives were used to hedge the variable cash flows associated with certain variable-rate debt. Amounts reported in AOCI related to these derivatives will be reclassified to Interest Expense, Net as interest payments are made on the variable-rate debt. During the next twelve months, we estimate that an additional $ 11.5 million will be reclassified from AOCI as a decrease to Interest Expense, Net. </context> | us-gaap:DerivativeInstrumentsGainLossReclassificationFromAccumulatedOCIToIncomeEstimatedNetAmountToBeTransferred |
In May 2022, we replaced LIBOR with SOFR as the benchmark interest rate for the two $ 240 million senior unsecured term loan tranches, maturing in November 2025 and July 2026. In November 2022, we replaced LIBOR with SOFR as the benchmark interest rate for our three remaining LIBOR term loans, which had a notional amount of $ 475 million. In accordance with ASC Topic 848, | text | 475 | monetaryItemType | text: <entity> 475 </entity> <entity type> monetaryItemType </entity type> <context> In May 2022, we replaced LIBOR with SOFR as the benchmark interest rate for the two $ 240 million senior unsecured term loan tranches, maturing in November 2025 and July 2026. In November 2022, we replaced LIBOR with SOFR as the benchmark interest rate for our three remaining LIBOR term loans, which had a notional amount of $ 475 million. In accordance with ASC Topic 848, </context> | us-gaap:DebtInstrumentFaceAmount |
(“ASC 848”), we elected not to dedesignate our LIBOR denominated interest rate swaps related to this hedged debt. As a result of these changes in the benchmark rate of the LIBOR term loans, we amended all of our interest rate swaps with a total notional amount of $ 755 million to change the benchmark interest rate from LIBOR to SOFR. As a result of these amendments, we elected to apply practical expedients in accordance with ASC 848 related to contract modifications, changes in critical terms, and updates to the designated hedged risks as qualifying changes have been made to applicable debt and derivative contracts. | text | 755 | monetaryItemType | text: <entity> 755 </entity> <entity type> monetaryItemType </entity type> <context> (“ASC 848”), we elected not to dedesignate our LIBOR denominated interest rate swaps related to this hedged debt. As a result of these changes in the benchmark rate of the LIBOR term loans, we amended all of our interest rate swaps with a total notional amount of $ 755 million to change the benchmark interest rate from LIBOR to SOFR. As a result of these amendments, we elected to apply practical expedients in accordance with ASC 848 related to contract modifications, changes in critical terms, and updates to the designated hedged risks as qualifying changes have been made to applicable debt and derivative contracts. </context> | us-gaap:DerivativeNotionalAmount |
In March 2023, we entered into an interest rate swap which has a notional amount of $ 200 million and swaps SOFR for a fixed rate of approximately 3.36 % which became effective in September 2023 and matures in September 2026. | text | 200 | monetaryItemType | text: <entity> 200 </entity> <entity type> monetaryItemType </entity type> <context> In March 2023, we entered into an interest rate swap which has a notional amount of $ 200 million and swaps SOFR for a fixed rate of approximately 3.36 % which became effective in September 2023 and matures in September 2026. </context> | us-gaap:DerivativeNotionalAmount |
In March 2023, we entered into an interest rate swap which has a notional amount of $ 200 million and swaps SOFR for a fixed rate of approximately 3.36 % which became effective in September 2023 and matures in September 2026. | text | 3.36 | percentItemType | text: <entity> 3.36 </entity> <entity type> percentItemType </entity type> <context> In March 2023, we entered into an interest rate swap which has a notional amount of $ 200 million and swaps SOFR for a fixed rate of approximately 3.36 % which became effective in September 2023 and matures in September 2026. </context> | us-gaap:DerivativeFixedInterestRate |
In January 2024, we entered into an interest rate swap which has a notional amount of $ 150 million and swaps SOFR for a fixed rate of approximately 3.45 % effective September 2024 and maturing December 2025. | text | 150 | monetaryItemType | text: <entity> 150 </entity> <entity type> monetaryItemType </entity type> <context> In January 2024, we entered into an interest rate swap which has a notional amount of $ 150 million and swaps SOFR for a fixed rate of approximately 3.45 % effective September 2024 and maturing December 2025. </context> | us-gaap:DerivativeNotionalAmount |
In January 2024, we entered into an interest rate swap which has a notional amount of $ 150 million and swaps SOFR for a fixed rate of approximately 3.45 % effective September 2024 and maturing December 2025. | text | 3.45 | percentItemType | text: <entity> 3.45 </entity> <entity type> percentItemType </entity type> <context> In January 2024, we entered into an interest rate swap which has a notional amount of $ 150 million and swaps SOFR for a fixed rate of approximately 3.45 % effective September 2024 and maturing December 2025. </context> | us-gaap:DerivativeFixedInterestRate |
Our deferred tax assets and liabilities result from the activities of our TRS entities. The TRS entities have a federal NOL carryforward of approximately $ 4.0 million. The federal NOL carryforward can be carried forward indefinitely. As of December 31, 2023, the TRS entities have state NOL carryforwards of approximately $ 4.1 million, which will expire as determined under each state's statute. | text | 4.0 | monetaryItemType | text: <entity> 4.0 </entity> <entity type> monetaryItemType </entity type> <context> Our deferred tax assets and liabilities result from the activities of our TRS entities. The TRS entities have a federal NOL carryforward of approximately $ 4.0 million. The federal NOL carryforward can be carried forward indefinitely. As of December 31, 2023, the TRS entities have state NOL carryforwards of approximately $ 4.1 million, which will expire as determined under each state's statute. </context> | us-gaap:OperatingLossCarryforwards |
Our deferred tax assets and liabilities result from the activities of our TRS entities. The TRS entities have a federal NOL carryforward of approximately $ 4.0 million. The federal NOL carryforward can be carried forward indefinitely. As of December 31, 2023, the TRS entities have state NOL carryforwards of approximately $ 4.1 million, which will expire as determined under each state's statute. | text | 4.1 | monetaryItemType | text: <entity> 4.1 </entity> <entity type> monetaryItemType </entity type> <context> Our deferred tax assets and liabilities result from the activities of our TRS entities. The TRS entities have a federal NOL carryforward of approximately $ 4.0 million. The federal NOL carryforward can be carried forward indefinitely. As of December 31, 2023, the TRS entities have state NOL carryforwards of approximately $ 4.1 million, which will expire as determined under each state's statute. </context> | us-gaap:OperatingLossCarryforwards |
As of December 31, 2023, we had four letters of credit outstanding totaling approximately $ 12.5 million to provide security for our obligations under Silver Rock’s insurance and reinsurance contracts. | text | 12.5 | monetaryItemType | text: <entity> 12.5 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2023, we had four letters of credit outstanding totaling approximately $ 12.5 million to provide security for our obligations under Silver Rock’s insurance and reinsurance contracts. </context> | us-gaap:LettersOfCreditOutstandingAmount |
—On February 10, 2022, we and the Operating Partnership entered into a sales agreement relating to the potential sale of shares of common stock pursuant to a continuous offering program. In accordance with the terms of the sales agreement, we may offer and sell shares of our common stock having an aggregate offering price of up to $ 250 million from time to time through our sales agents, or, if applicable, as forward sellers. During the three months ended December 31, 2023, we issued 2.2 million shares of our common stock at a gross weighted average price of $ 35.92 per share under the ATM program for net proceeds of $ 77.5 million, after approximately $ 0.8 million in commissions. During the year ended December 31, 2023, we issued 4.2 million shares of our common stock at a gross weighted average price of $ 35.76 per share under the ATM program for net proceeds of $ 147.6 million, after approximately $ 1.5 million in commissions. During the three months ended December 31, 2022, no shares were issued under the ATM program. During the year ended December 31, 2022, we issued 2.6 million shares of our common stock at a gross weighted average price of $ 34.23 per share under the ATM program for net proceeds of $ 89.2 million, after approximately $ 0.9 million in commissions. As of December 31, 2023, approximately $ 10.8 million of common stock remained available for issuance under the ATM program. | text | 2.2 | sharesItemType | text: <entity> 2.2 </entity> <entity type> sharesItemType </entity type> <context> —On February 10, 2022, we and the Operating Partnership entered into a sales agreement relating to the potential sale of shares of common stock pursuant to a continuous offering program. In accordance with the terms of the sales agreement, we may offer and sell shares of our common stock having an aggregate offering price of up to $ 250 million from time to time through our sales agents, or, if applicable, as forward sellers. During the three months ended December 31, 2023, we issued 2.2 million shares of our common stock at a gross weighted average price of $ 35.92 per share under the ATM program for net proceeds of $ 77.5 million, after approximately $ 0.8 million in commissions. During the year ended December 31, 2023, we issued 4.2 million shares of our common stock at a gross weighted average price of $ 35.76 per share under the ATM program for net proceeds of $ 147.6 million, after approximately $ 1.5 million in commissions. During the three months ended December 31, 2022, no shares were issued under the ATM program. During the year ended December 31, 2022, we issued 2.6 million shares of our common stock at a gross weighted average price of $ 34.23 per share under the ATM program for net proceeds of $ 89.2 million, after approximately $ 0.9 million in commissions. As of December 31, 2023, approximately $ 10.8 million of common stock remained available for issuance under the ATM program. </context> | us-gaap:SaleOfStockNumberOfSharesIssuedInTransaction |
—On February 10, 2022, we and the Operating Partnership entered into a sales agreement relating to the potential sale of shares of common stock pursuant to a continuous offering program. In accordance with the terms of the sales agreement, we may offer and sell shares of our common stock having an aggregate offering price of up to $ 250 million from time to time through our sales agents, or, if applicable, as forward sellers. During the three months ended December 31, 2023, we issued 2.2 million shares of our common stock at a gross weighted average price of $ 35.92 per share under the ATM program for net proceeds of $ 77.5 million, after approximately $ 0.8 million in commissions. During the year ended December 31, 2023, we issued 4.2 million shares of our common stock at a gross weighted average price of $ 35.76 per share under the ATM program for net proceeds of $ 147.6 million, after approximately $ 1.5 million in commissions. During the three months ended December 31, 2022, no shares were issued under the ATM program. During the year ended December 31, 2022, we issued 2.6 million shares of our common stock at a gross weighted average price of $ 34.23 per share under the ATM program for net proceeds of $ 89.2 million, after approximately $ 0.9 million in commissions. As of December 31, 2023, approximately $ 10.8 million of common stock remained available for issuance under the ATM program. | text | 77.5 | monetaryItemType | text: <entity> 77.5 </entity> <entity type> monetaryItemType </entity type> <context> —On February 10, 2022, we and the Operating Partnership entered into a sales agreement relating to the potential sale of shares of common stock pursuant to a continuous offering program. In accordance with the terms of the sales agreement, we may offer and sell shares of our common stock having an aggregate offering price of up to $ 250 million from time to time through our sales agents, or, if applicable, as forward sellers. During the three months ended December 31, 2023, we issued 2.2 million shares of our common stock at a gross weighted average price of $ 35.92 per share under the ATM program for net proceeds of $ 77.5 million, after approximately $ 0.8 million in commissions. During the year ended December 31, 2023, we issued 4.2 million shares of our common stock at a gross weighted average price of $ 35.76 per share under the ATM program for net proceeds of $ 147.6 million, after approximately $ 1.5 million in commissions. During the three months ended December 31, 2022, no shares were issued under the ATM program. During the year ended December 31, 2022, we issued 2.6 million shares of our common stock at a gross weighted average price of $ 34.23 per share under the ATM program for net proceeds of $ 89.2 million, after approximately $ 0.9 million in commissions. As of December 31, 2023, approximately $ 10.8 million of common stock remained available for issuance under the ATM program. </context> | us-gaap:SaleOfStockConsiderationReceivedOnTransaction |
—On February 10, 2022, we and the Operating Partnership entered into a sales agreement relating to the potential sale of shares of common stock pursuant to a continuous offering program. In accordance with the terms of the sales agreement, we may offer and sell shares of our common stock having an aggregate offering price of up to $ 250 million from time to time through our sales agents, or, if applicable, as forward sellers. During the three months ended December 31, 2023, we issued 2.2 million shares of our common stock at a gross weighted average price of $ 35.92 per share under the ATM program for net proceeds of $ 77.5 million, after approximately $ 0.8 million in commissions. During the year ended December 31, 2023, we issued 4.2 million shares of our common stock at a gross weighted average price of $ 35.76 per share under the ATM program for net proceeds of $ 147.6 million, after approximately $ 1.5 million in commissions. During the three months ended December 31, 2022, no shares were issued under the ATM program. During the year ended December 31, 2022, we issued 2.6 million shares of our common stock at a gross weighted average price of $ 34.23 per share under the ATM program for net proceeds of $ 89.2 million, after approximately $ 0.9 million in commissions. As of December 31, 2023, approximately $ 10.8 million of common stock remained available for issuance under the ATM program. | text | 0.8 | monetaryItemType | text: <entity> 0.8 </entity> <entity type> monetaryItemType </entity type> <context> —On February 10, 2022, we and the Operating Partnership entered into a sales agreement relating to the potential sale of shares of common stock pursuant to a continuous offering program. In accordance with the terms of the sales agreement, we may offer and sell shares of our common stock having an aggregate offering price of up to $ 250 million from time to time through our sales agents, or, if applicable, as forward sellers. During the three months ended December 31, 2023, we issued 2.2 million shares of our common stock at a gross weighted average price of $ 35.92 per share under the ATM program for net proceeds of $ 77.5 million, after approximately $ 0.8 million in commissions. During the year ended December 31, 2023, we issued 4.2 million shares of our common stock at a gross weighted average price of $ 35.76 per share under the ATM program for net proceeds of $ 147.6 million, after approximately $ 1.5 million in commissions. During the three months ended December 31, 2022, no shares were issued under the ATM program. During the year ended December 31, 2022, we issued 2.6 million shares of our common stock at a gross weighted average price of $ 34.23 per share under the ATM program for net proceeds of $ 89.2 million, after approximately $ 0.9 million in commissions. As of December 31, 2023, approximately $ 10.8 million of common stock remained available for issuance under the ATM program. </context> | us-gaap:PaymentsOfStockIssuanceCosts |
—On February 10, 2022, we and the Operating Partnership entered into a sales agreement relating to the potential sale of shares of common stock pursuant to a continuous offering program. In accordance with the terms of the sales agreement, we may offer and sell shares of our common stock having an aggregate offering price of up to $ 250 million from time to time through our sales agents, or, if applicable, as forward sellers. During the three months ended December 31, 2023, we issued 2.2 million shares of our common stock at a gross weighted average price of $ 35.92 per share under the ATM program for net proceeds of $ 77.5 million, after approximately $ 0.8 million in commissions. During the year ended December 31, 2023, we issued 4.2 million shares of our common stock at a gross weighted average price of $ 35.76 per share under the ATM program for net proceeds of $ 147.6 million, after approximately $ 1.5 million in commissions. During the three months ended December 31, 2022, no shares were issued under the ATM program. During the year ended December 31, 2022, we issued 2.6 million shares of our common stock at a gross weighted average price of $ 34.23 per share under the ATM program for net proceeds of $ 89.2 million, after approximately $ 0.9 million in commissions. As of December 31, 2023, approximately $ 10.8 million of common stock remained available for issuance under the ATM program. | text | 4.2 | sharesItemType | text: <entity> 4.2 </entity> <entity type> sharesItemType </entity type> <context> —On February 10, 2022, we and the Operating Partnership entered into a sales agreement relating to the potential sale of shares of common stock pursuant to a continuous offering program. In accordance with the terms of the sales agreement, we may offer and sell shares of our common stock having an aggregate offering price of up to $ 250 million from time to time through our sales agents, or, if applicable, as forward sellers. During the three months ended December 31, 2023, we issued 2.2 million shares of our common stock at a gross weighted average price of $ 35.92 per share under the ATM program for net proceeds of $ 77.5 million, after approximately $ 0.8 million in commissions. During the year ended December 31, 2023, we issued 4.2 million shares of our common stock at a gross weighted average price of $ 35.76 per share under the ATM program for net proceeds of $ 147.6 million, after approximately $ 1.5 million in commissions. During the three months ended December 31, 2022, no shares were issued under the ATM program. During the year ended December 31, 2022, we issued 2.6 million shares of our common stock at a gross weighted average price of $ 34.23 per share under the ATM program for net proceeds of $ 89.2 million, after approximately $ 0.9 million in commissions. As of December 31, 2023, approximately $ 10.8 million of common stock remained available for issuance under the ATM program. </context> | us-gaap:SaleOfStockNumberOfSharesIssuedInTransaction |
—On February 10, 2022, we and the Operating Partnership entered into a sales agreement relating to the potential sale of shares of common stock pursuant to a continuous offering program. In accordance with the terms of the sales agreement, we may offer and sell shares of our common stock having an aggregate offering price of up to $ 250 million from time to time through our sales agents, or, if applicable, as forward sellers. During the three months ended December 31, 2023, we issued 2.2 million shares of our common stock at a gross weighted average price of $ 35.92 per share under the ATM program for net proceeds of $ 77.5 million, after approximately $ 0.8 million in commissions. During the year ended December 31, 2023, we issued 4.2 million shares of our common stock at a gross weighted average price of $ 35.76 per share under the ATM program for net proceeds of $ 147.6 million, after approximately $ 1.5 million in commissions. During the three months ended December 31, 2022, no shares were issued under the ATM program. During the year ended December 31, 2022, we issued 2.6 million shares of our common stock at a gross weighted average price of $ 34.23 per share under the ATM program for net proceeds of $ 89.2 million, after approximately $ 0.9 million in commissions. As of December 31, 2023, approximately $ 10.8 million of common stock remained available for issuance under the ATM program. | text | 147.6 | monetaryItemType | text: <entity> 147.6 </entity> <entity type> monetaryItemType </entity type> <context> —On February 10, 2022, we and the Operating Partnership entered into a sales agreement relating to the potential sale of shares of common stock pursuant to a continuous offering program. In accordance with the terms of the sales agreement, we may offer and sell shares of our common stock having an aggregate offering price of up to $ 250 million from time to time through our sales agents, or, if applicable, as forward sellers. During the three months ended December 31, 2023, we issued 2.2 million shares of our common stock at a gross weighted average price of $ 35.92 per share under the ATM program for net proceeds of $ 77.5 million, after approximately $ 0.8 million in commissions. During the year ended December 31, 2023, we issued 4.2 million shares of our common stock at a gross weighted average price of $ 35.76 per share under the ATM program for net proceeds of $ 147.6 million, after approximately $ 1.5 million in commissions. During the three months ended December 31, 2022, no shares were issued under the ATM program. During the year ended December 31, 2022, we issued 2.6 million shares of our common stock at a gross weighted average price of $ 34.23 per share under the ATM program for net proceeds of $ 89.2 million, after approximately $ 0.9 million in commissions. As of December 31, 2023, approximately $ 10.8 million of common stock remained available for issuance under the ATM program. </context> | us-gaap:SaleOfStockConsiderationReceivedOnTransaction |
—On February 10, 2022, we and the Operating Partnership entered into a sales agreement relating to the potential sale of shares of common stock pursuant to a continuous offering program. In accordance with the terms of the sales agreement, we may offer and sell shares of our common stock having an aggregate offering price of up to $ 250 million from time to time through our sales agents, or, if applicable, as forward sellers. During the three months ended December 31, 2023, we issued 2.2 million shares of our common stock at a gross weighted average price of $ 35.92 per share under the ATM program for net proceeds of $ 77.5 million, after approximately $ 0.8 million in commissions. During the year ended December 31, 2023, we issued 4.2 million shares of our common stock at a gross weighted average price of $ 35.76 per share under the ATM program for net proceeds of $ 147.6 million, after approximately $ 1.5 million in commissions. During the three months ended December 31, 2022, no shares were issued under the ATM program. During the year ended December 31, 2022, we issued 2.6 million shares of our common stock at a gross weighted average price of $ 34.23 per share under the ATM program for net proceeds of $ 89.2 million, after approximately $ 0.9 million in commissions. As of December 31, 2023, approximately $ 10.8 million of common stock remained available for issuance under the ATM program. | text | 1.5 | monetaryItemType | text: <entity> 1.5 </entity> <entity type> monetaryItemType </entity type> <context> —On February 10, 2022, we and the Operating Partnership entered into a sales agreement relating to the potential sale of shares of common stock pursuant to a continuous offering program. In accordance with the terms of the sales agreement, we may offer and sell shares of our common stock having an aggregate offering price of up to $ 250 million from time to time through our sales agents, or, if applicable, as forward sellers. During the three months ended December 31, 2023, we issued 2.2 million shares of our common stock at a gross weighted average price of $ 35.92 per share under the ATM program for net proceeds of $ 77.5 million, after approximately $ 0.8 million in commissions. During the year ended December 31, 2023, we issued 4.2 million shares of our common stock at a gross weighted average price of $ 35.76 per share under the ATM program for net proceeds of $ 147.6 million, after approximately $ 1.5 million in commissions. During the three months ended December 31, 2022, no shares were issued under the ATM program. During the year ended December 31, 2022, we issued 2.6 million shares of our common stock at a gross weighted average price of $ 34.23 per share under the ATM program for net proceeds of $ 89.2 million, after approximately $ 0.9 million in commissions. As of December 31, 2023, approximately $ 10.8 million of common stock remained available for issuance under the ATM program. </context> | us-gaap:PaymentsOfStockIssuanceCosts |
—On February 10, 2022, we and the Operating Partnership entered into a sales agreement relating to the potential sale of shares of common stock pursuant to a continuous offering program. In accordance with the terms of the sales agreement, we may offer and sell shares of our common stock having an aggregate offering price of up to $ 250 million from time to time through our sales agents, or, if applicable, as forward sellers. During the three months ended December 31, 2023, we issued 2.2 million shares of our common stock at a gross weighted average price of $ 35.92 per share under the ATM program for net proceeds of $ 77.5 million, after approximately $ 0.8 million in commissions. During the year ended December 31, 2023, we issued 4.2 million shares of our common stock at a gross weighted average price of $ 35.76 per share under the ATM program for net proceeds of $ 147.6 million, after approximately $ 1.5 million in commissions. During the three months ended December 31, 2022, no shares were issued under the ATM program. During the year ended December 31, 2022, we issued 2.6 million shares of our common stock at a gross weighted average price of $ 34.23 per share under the ATM program for net proceeds of $ 89.2 million, after approximately $ 0.9 million in commissions. As of December 31, 2023, approximately $ 10.8 million of common stock remained available for issuance under the ATM program. | text | no | sharesItemType | text: <entity> no </entity> <entity type> sharesItemType </entity type> <context> —On February 10, 2022, we and the Operating Partnership entered into a sales agreement relating to the potential sale of shares of common stock pursuant to a continuous offering program. In accordance with the terms of the sales agreement, we may offer and sell shares of our common stock having an aggregate offering price of up to $ 250 million from time to time through our sales agents, or, if applicable, as forward sellers. During the three months ended December 31, 2023, we issued 2.2 million shares of our common stock at a gross weighted average price of $ 35.92 per share under the ATM program for net proceeds of $ 77.5 million, after approximately $ 0.8 million in commissions. During the year ended December 31, 2023, we issued 4.2 million shares of our common stock at a gross weighted average price of $ 35.76 per share under the ATM program for net proceeds of $ 147.6 million, after approximately $ 1.5 million in commissions. During the three months ended December 31, 2022, no shares were issued under the ATM program. During the year ended December 31, 2022, we issued 2.6 million shares of our common stock at a gross weighted average price of $ 34.23 per share under the ATM program for net proceeds of $ 89.2 million, after approximately $ 0.9 million in commissions. As of December 31, 2023, approximately $ 10.8 million of common stock remained available for issuance under the ATM program. </context> | us-gaap:SaleOfStockNumberOfSharesIssuedInTransaction |
—On February 10, 2022, we and the Operating Partnership entered into a sales agreement relating to the potential sale of shares of common stock pursuant to a continuous offering program. In accordance with the terms of the sales agreement, we may offer and sell shares of our common stock having an aggregate offering price of up to $ 250 million from time to time through our sales agents, or, if applicable, as forward sellers. During the three months ended December 31, 2023, we issued 2.2 million shares of our common stock at a gross weighted average price of $ 35.92 per share under the ATM program for net proceeds of $ 77.5 million, after approximately $ 0.8 million in commissions. During the year ended December 31, 2023, we issued 4.2 million shares of our common stock at a gross weighted average price of $ 35.76 per share under the ATM program for net proceeds of $ 147.6 million, after approximately $ 1.5 million in commissions. During the three months ended December 31, 2022, no shares were issued under the ATM program. During the year ended December 31, 2022, we issued 2.6 million shares of our common stock at a gross weighted average price of $ 34.23 per share under the ATM program for net proceeds of $ 89.2 million, after approximately $ 0.9 million in commissions. As of December 31, 2023, approximately $ 10.8 million of common stock remained available for issuance under the ATM program. | text | 2.6 | sharesItemType | text: <entity> 2.6 </entity> <entity type> sharesItemType </entity type> <context> —On February 10, 2022, we and the Operating Partnership entered into a sales agreement relating to the potential sale of shares of common stock pursuant to a continuous offering program. In accordance with the terms of the sales agreement, we may offer and sell shares of our common stock having an aggregate offering price of up to $ 250 million from time to time through our sales agents, or, if applicable, as forward sellers. During the three months ended December 31, 2023, we issued 2.2 million shares of our common stock at a gross weighted average price of $ 35.92 per share under the ATM program for net proceeds of $ 77.5 million, after approximately $ 0.8 million in commissions. During the year ended December 31, 2023, we issued 4.2 million shares of our common stock at a gross weighted average price of $ 35.76 per share under the ATM program for net proceeds of $ 147.6 million, after approximately $ 1.5 million in commissions. During the three months ended December 31, 2022, no shares were issued under the ATM program. During the year ended December 31, 2022, we issued 2.6 million shares of our common stock at a gross weighted average price of $ 34.23 per share under the ATM program for net proceeds of $ 89.2 million, after approximately $ 0.9 million in commissions. As of December 31, 2023, approximately $ 10.8 million of common stock remained available for issuance under the ATM program. </context> | us-gaap:SaleOfStockNumberOfSharesIssuedInTransaction |
—On February 10, 2022, we and the Operating Partnership entered into a sales agreement relating to the potential sale of shares of common stock pursuant to a continuous offering program. In accordance with the terms of the sales agreement, we may offer and sell shares of our common stock having an aggregate offering price of up to $ 250 million from time to time through our sales agents, or, if applicable, as forward sellers. During the three months ended December 31, 2023, we issued 2.2 million shares of our common stock at a gross weighted average price of $ 35.92 per share under the ATM program for net proceeds of $ 77.5 million, after approximately $ 0.8 million in commissions. During the year ended December 31, 2023, we issued 4.2 million shares of our common stock at a gross weighted average price of $ 35.76 per share under the ATM program for net proceeds of $ 147.6 million, after approximately $ 1.5 million in commissions. During the three months ended December 31, 2022, no shares were issued under the ATM program. During the year ended December 31, 2022, we issued 2.6 million shares of our common stock at a gross weighted average price of $ 34.23 per share under the ATM program for net proceeds of $ 89.2 million, after approximately $ 0.9 million in commissions. As of December 31, 2023, approximately $ 10.8 million of common stock remained available for issuance under the ATM program. | text | 89.2 | monetaryItemType | text: <entity> 89.2 </entity> <entity type> monetaryItemType </entity type> <context> —On February 10, 2022, we and the Operating Partnership entered into a sales agreement relating to the potential sale of shares of common stock pursuant to a continuous offering program. In accordance with the terms of the sales agreement, we may offer and sell shares of our common stock having an aggregate offering price of up to $ 250 million from time to time through our sales agents, or, if applicable, as forward sellers. During the three months ended December 31, 2023, we issued 2.2 million shares of our common stock at a gross weighted average price of $ 35.92 per share under the ATM program for net proceeds of $ 77.5 million, after approximately $ 0.8 million in commissions. During the year ended December 31, 2023, we issued 4.2 million shares of our common stock at a gross weighted average price of $ 35.76 per share under the ATM program for net proceeds of $ 147.6 million, after approximately $ 1.5 million in commissions. During the three months ended December 31, 2022, no shares were issued under the ATM program. During the year ended December 31, 2022, we issued 2.6 million shares of our common stock at a gross weighted average price of $ 34.23 per share under the ATM program for net proceeds of $ 89.2 million, after approximately $ 0.9 million in commissions. As of December 31, 2023, approximately $ 10.8 million of common stock remained available for issuance under the ATM program. </context> | us-gaap:SaleOfStockConsiderationReceivedOnTransaction |
—On February 10, 2022, we and the Operating Partnership entered into a sales agreement relating to the potential sale of shares of common stock pursuant to a continuous offering program. In accordance with the terms of the sales agreement, we may offer and sell shares of our common stock having an aggregate offering price of up to $ 250 million from time to time through our sales agents, or, if applicable, as forward sellers. During the three months ended December 31, 2023, we issued 2.2 million shares of our common stock at a gross weighted average price of $ 35.92 per share under the ATM program for net proceeds of $ 77.5 million, after approximately $ 0.8 million in commissions. During the year ended December 31, 2023, we issued 4.2 million shares of our common stock at a gross weighted average price of $ 35.76 per share under the ATM program for net proceeds of $ 147.6 million, after approximately $ 1.5 million in commissions. During the three months ended December 31, 2022, no shares were issued under the ATM program. During the year ended December 31, 2022, we issued 2.6 million shares of our common stock at a gross weighted average price of $ 34.23 per share under the ATM program for net proceeds of $ 89.2 million, after approximately $ 0.9 million in commissions. As of December 31, 2023, approximately $ 10.8 million of common stock remained available for issuance under the ATM program. | text | 0.9 | monetaryItemType | text: <entity> 0.9 </entity> <entity type> monetaryItemType </entity type> <context> —On February 10, 2022, we and the Operating Partnership entered into a sales agreement relating to the potential sale of shares of common stock pursuant to a continuous offering program. In accordance with the terms of the sales agreement, we may offer and sell shares of our common stock having an aggregate offering price of up to $ 250 million from time to time through our sales agents, or, if applicable, as forward sellers. During the three months ended December 31, 2023, we issued 2.2 million shares of our common stock at a gross weighted average price of $ 35.92 per share under the ATM program for net proceeds of $ 77.5 million, after approximately $ 0.8 million in commissions. During the year ended December 31, 2023, we issued 4.2 million shares of our common stock at a gross weighted average price of $ 35.76 per share under the ATM program for net proceeds of $ 147.6 million, after approximately $ 1.5 million in commissions. During the three months ended December 31, 2022, no shares were issued under the ATM program. During the year ended December 31, 2022, we issued 2.6 million shares of our common stock at a gross weighted average price of $ 34.23 per share under the ATM program for net proceeds of $ 89.2 million, after approximately $ 0.9 million in commissions. As of December 31, 2023, approximately $ 10.8 million of common stock remained available for issuance under the ATM program. </context> | us-gaap:PaymentsOfStockIssuanceCosts |
—On February 10, 2022, we and the Operating Partnership entered into a sales agreement relating to the potential sale of shares of common stock pursuant to a continuous offering program. In accordance with the terms of the sales agreement, we may offer and sell shares of our common stock having an aggregate offering price of up to $ 250 million from time to time through our sales agents, or, if applicable, as forward sellers. During the three months ended December 31, 2023, we issued 2.2 million shares of our common stock at a gross weighted average price of $ 35.92 per share under the ATM program for net proceeds of $ 77.5 million, after approximately $ 0.8 million in commissions. During the year ended December 31, 2023, we issued 4.2 million shares of our common stock at a gross weighted average price of $ 35.76 per share under the ATM program for net proceeds of $ 147.6 million, after approximately $ 1.5 million in commissions. During the three months ended December 31, 2022, no shares were issued under the ATM program. During the year ended December 31, 2022, we issued 2.6 million shares of our common stock at a gross weighted average price of $ 34.23 per share under the ATM program for net proceeds of $ 89.2 million, after approximately $ 0.9 million in commissions. As of December 31, 2023, approximately $ 10.8 million of common stock remained available for issuance under the ATM program. | text | 10.8 | monetaryItemType | text: <entity> 10.8 </entity> <entity type> monetaryItemType </entity type> <context> —On February 10, 2022, we and the Operating Partnership entered into a sales agreement relating to the potential sale of shares of common stock pursuant to a continuous offering program. In accordance with the terms of the sales agreement, we may offer and sell shares of our common stock having an aggregate offering price of up to $ 250 million from time to time through our sales agents, or, if applicable, as forward sellers. During the three months ended December 31, 2023, we issued 2.2 million shares of our common stock at a gross weighted average price of $ 35.92 per share under the ATM program for net proceeds of $ 77.5 million, after approximately $ 0.8 million in commissions. During the year ended December 31, 2023, we issued 4.2 million shares of our common stock at a gross weighted average price of $ 35.76 per share under the ATM program for net proceeds of $ 147.6 million, after approximately $ 1.5 million in commissions. During the three months ended December 31, 2022, no shares were issued under the ATM program. During the year ended December 31, 2022, we issued 2.6 million shares of our common stock at a gross weighted average price of $ 34.23 per share under the ATM program for net proceeds of $ 89.2 million, after approximately $ 0.9 million in commissions. As of December 31, 2023, approximately $ 10.8 million of common stock remained available for issuance under the ATM program. </context> | us-gaap:CommonStockSharesSubscriptions |
Subsequent to December 31, 2023, we issued approximately 46,000 additional shares of our common stock at a gross weighted average price of $ 37.05 per share under the ATM program for net proceeds of $ 1.7 million, after approximately $ 17,000 in commissions. | text | 46000 | sharesItemType | text: <entity> 46000 </entity> <entity type> sharesItemType </entity type> <context> Subsequent to December 31, 2023, we issued approximately 46,000 additional shares of our common stock at a gross weighted average price of $ 37.05 per share under the ATM program for net proceeds of $ 1.7 million, after approximately $ 17,000 in commissions. </context> | us-gaap:SaleOfStockNumberOfSharesIssuedInTransaction |
Subsequent to December 31, 2023, we issued approximately 46,000 additional shares of our common stock at a gross weighted average price of $ 37.05 per share under the ATM program for net proceeds of $ 1.7 million, after approximately $ 17,000 in commissions. | text | 1.7 | monetaryItemType | text: <entity> 1.7 </entity> <entity type> monetaryItemType </entity type> <context> Subsequent to December 31, 2023, we issued approximately 46,000 additional shares of our common stock at a gross weighted average price of $ 37.05 per share under the ATM program for net proceeds of $ 1.7 million, after approximately $ 17,000 in commissions. </context> | us-gaap:SaleOfStockConsiderationReceivedOnTransaction |
Subsequent to December 31, 2023, we issued approximately 46,000 additional shares of our common stock at a gross weighted average price of $ 37.05 per share under the ATM program for net proceeds of $ 1.7 million, after approximately $ 17,000 in commissions. | text | 17000 | monetaryItemType | text: <entity> 17000 </entity> <entity type> monetaryItemType </entity type> <context> Subsequent to December 31, 2023, we issued approximately 46,000 additional shares of our common stock at a gross weighted average price of $ 37.05 per share under the ATM program for net proceeds of $ 1.7 million, after approximately $ 17,000 in commissions. </context> | us-gaap:PaymentsOfStockIssuanceCosts |
On May 5, 2022, we filed Articles Supplementary to our charter with the Maryland State Department of Assessments and Taxation in order to reclassify and designate all of the 350 million authorized shares of our Class B common stock, $ 0.01 par value per share, all of which were unissued at such time, as shares of our common stock, $ 0.01 par value per share. We no longer have Class B common stock authorized for issue. | text | 350 | sharesItemType | text: <entity> 350 </entity> <entity type> sharesItemType </entity type> <context> On May 5, 2022, we filed Articles Supplementary to our charter with the Maryland State Department of Assessments and Taxation in order to reclassify and designate all of the 350 million authorized shares of our Class B common stock, $ 0.01 par value per share, all of which were unissued at such time, as shares of our common stock, $ 0.01 par value per share. We no longer have Class B common stock authorized for issue. </context> | us-gaap:CommonStockSharesAuthorized |
On May 5, 2022, we filed Articles Supplementary to our charter with the Maryland State Department of Assessments and Taxation in order to reclassify and designate all of the 350 million authorized shares of our Class B common stock, $ 0.01 par value per share, all of which were unissued at such time, as shares of our common stock, $ 0.01 par value per share. We no longer have Class B common stock authorized for issue. | text | 0.01 | perShareItemType | text: <entity> 0.01 </entity> <entity type> perShareItemType </entity type> <context> On May 5, 2022, we filed Articles Supplementary to our charter with the Maryland State Department of Assessments and Taxation in order to reclassify and designate all of the 350 million authorized shares of our Class B common stock, $ 0.01 par value per share, all of which were unissued at such time, as shares of our common stock, $ 0.01 par value per share. We no longer have Class B common stock authorized for issue. </context> | us-gaap:CommonStockParOrStatedValuePerShare |
—On July 19, 2021, we completed our underwritten IPO and issued 17.0 million shares of common stock at an offering price to the public of $ 28.00 per share. We used a portion of the net proceeds to reduce our leverage and used the remaining amount to fund external growth with property acquisitions and for other general corporate uses. As part of the underwritten IPO, underwriters were granted an option exercisable within 30 days from July 14, 2021 to purchase up to an additional 2.6 million shares of common stock at the underwritten IPO price, less underwriting discounts and commissions. On July 29, 2021, the underwriters exercised their option. The underwritten IPO, including the underwriters’ overallotment election, resulted in gross proceeds of $ 547.4 million. | text | 17.0 | sharesItemType | text: <entity> 17.0 </entity> <entity type> sharesItemType </entity type> <context> —On July 19, 2021, we completed our underwritten IPO and issued 17.0 million shares of common stock at an offering price to the public of $ 28.00 per share. We used a portion of the net proceeds to reduce our leverage and used the remaining amount to fund external growth with property acquisitions and for other general corporate uses. As part of the underwritten IPO, underwriters were granted an option exercisable within 30 days from July 14, 2021 to purchase up to an additional 2.6 million shares of common stock at the underwritten IPO price, less underwriting discounts and commissions. On July 29, 2021, the underwriters exercised their option. The underwritten IPO, including the underwriters’ overallotment election, resulted in gross proceeds of $ 547.4 million. </context> | us-gaap:SaleOfStockNumberOfSharesIssuedInTransaction |
—On July 19, 2021, we completed our underwritten IPO and issued 17.0 million shares of common stock at an offering price to the public of $ 28.00 per share. We used a portion of the net proceeds to reduce our leverage and used the remaining amount to fund external growth with property acquisitions and for other general corporate uses. As part of the underwritten IPO, underwriters were granted an option exercisable within 30 days from July 14, 2021 to purchase up to an additional 2.6 million shares of common stock at the underwritten IPO price, less underwriting discounts and commissions. On July 29, 2021, the underwriters exercised their option. The underwritten IPO, including the underwriters’ overallotment election, resulted in gross proceeds of $ 547.4 million. | text | 28.00 | perShareItemType | text: <entity> 28.00 </entity> <entity type> perShareItemType </entity type> <context> —On July 19, 2021, we completed our underwritten IPO and issued 17.0 million shares of common stock at an offering price to the public of $ 28.00 per share. We used a portion of the net proceeds to reduce our leverage and used the remaining amount to fund external growth with property acquisitions and for other general corporate uses. As part of the underwritten IPO, underwriters were granted an option exercisable within 30 days from July 14, 2021 to purchase up to an additional 2.6 million shares of common stock at the underwritten IPO price, less underwriting discounts and commissions. On July 29, 2021, the underwriters exercised their option. The underwritten IPO, including the underwriters’ overallotment election, resulted in gross proceeds of $ 547.4 million. </context> | us-gaap:SaleOfStockPricePerShare |
—On July 19, 2021, we completed our underwritten IPO and issued 17.0 million shares of common stock at an offering price to the public of $ 28.00 per share. We used a portion of the net proceeds to reduce our leverage and used the remaining amount to fund external growth with property acquisitions and for other general corporate uses. As part of the underwritten IPO, underwriters were granted an option exercisable within 30 days from July 14, 2021 to purchase up to an additional 2.6 million shares of common stock at the underwritten IPO price, less underwriting discounts and commissions. On July 29, 2021, the underwriters exercised their option. The underwritten IPO, including the underwriters’ overallotment election, resulted in gross proceeds of $ 547.4 million. | text | 2.6 | sharesItemType | text: <entity> 2.6 </entity> <entity type> sharesItemType </entity type> <context> —On July 19, 2021, we completed our underwritten IPO and issued 17.0 million shares of common stock at an offering price to the public of $ 28.00 per share. We used a portion of the net proceeds to reduce our leverage and used the remaining amount to fund external growth with property acquisitions and for other general corporate uses. As part of the underwritten IPO, underwriters were granted an option exercisable within 30 days from July 14, 2021 to purchase up to an additional 2.6 million shares of common stock at the underwritten IPO price, less underwriting discounts and commissions. On July 29, 2021, the underwriters exercised their option. The underwritten IPO, including the underwriters’ overallotment election, resulted in gross proceeds of $ 547.4 million. </context> | us-gaap:SaleOfStockNumberOfSharesIssuedInTransaction |
—In 2023, we declared and paid monthly distributions of $ 0.0933 per share and OP unit, or $ 1.12 annualized, for each month beginning January 2023 through August 2023. On September 1, 2023, the Board authorized a 4.5 % increase of our monthly distribution rate to $ 0.0975 per common share and OP unit. We declared and paid monthly distributions of $ 0.0975 per share and OP unit, or $ 1.17 annualized, for each month beginning September 2023 through December 2023. Distributions paid to stockholders and OP unit holders of record subsequent to December 31, 2023 were as follows (dollars in thousands, excluding per share amounts): | text | 0.0933 | perShareItemType | text: <entity> 0.0933 </entity> <entity type> perShareItemType </entity type> <context> —In 2023, we declared and paid monthly distributions of $ 0.0933 per share and OP unit, or $ 1.12 annualized, for each month beginning January 2023 through August 2023. On September 1, 2023, the Board authorized a 4.5 % increase of our monthly distribution rate to $ 0.0975 per common share and OP unit. We declared and paid monthly distributions of $ 0.0975 per share and OP unit, or $ 1.17 annualized, for each month beginning September 2023 through December 2023. Distributions paid to stockholders and OP unit holders of record subsequent to December 31, 2023 were as follows (dollars in thousands, excluding per share amounts): </context> | us-gaap:CommonStockDividendsPerShareDeclared |
—In 2023, we declared and paid monthly distributions of $ 0.0933 per share and OP unit, or $ 1.12 annualized, for each month beginning January 2023 through August 2023. On September 1, 2023, the Board authorized a 4.5 % increase of our monthly distribution rate to $ 0.0975 per common share and OP unit. We declared and paid monthly distributions of $ 0.0975 per share and OP unit, or $ 1.17 annualized, for each month beginning September 2023 through December 2023. Distributions paid to stockholders and OP unit holders of record subsequent to December 31, 2023 were as follows (dollars in thousands, excluding per share amounts): | text | 1.12 | perShareItemType | text: <entity> 1.12 </entity> <entity type> perShareItemType </entity type> <context> —In 2023, we declared and paid monthly distributions of $ 0.0933 per share and OP unit, or $ 1.12 annualized, for each month beginning January 2023 through August 2023. On September 1, 2023, the Board authorized a 4.5 % increase of our monthly distribution rate to $ 0.0975 per common share and OP unit. We declared and paid monthly distributions of $ 0.0975 per share and OP unit, or $ 1.17 annualized, for each month beginning September 2023 through December 2023. Distributions paid to stockholders and OP unit holders of record subsequent to December 31, 2023 were as follows (dollars in thousands, excluding per share amounts): </context> | us-gaap:CommonStockDividendsPerShareDeclared |
—In 2023, we declared and paid monthly distributions of $ 0.0933 per share and OP unit, or $ 1.12 annualized, for each month beginning January 2023 through August 2023. On September 1, 2023, the Board authorized a 4.5 % increase of our monthly distribution rate to $ 0.0975 per common share and OP unit. We declared and paid monthly distributions of $ 0.0975 per share and OP unit, or $ 1.17 annualized, for each month beginning September 2023 through December 2023. Distributions paid to stockholders and OP unit holders of record subsequent to December 31, 2023 were as follows (dollars in thousands, excluding per share amounts): | text | 0.0975 | perShareItemType | text: <entity> 0.0975 </entity> <entity type> perShareItemType </entity type> <context> —In 2023, we declared and paid monthly distributions of $ 0.0933 per share and OP unit, or $ 1.12 annualized, for each month beginning January 2023 through August 2023. On September 1, 2023, the Board authorized a 4.5 % increase of our monthly distribution rate to $ 0.0975 per common share and OP unit. We declared and paid monthly distributions of $ 0.0975 per share and OP unit, or $ 1.17 annualized, for each month beginning September 2023 through December 2023. Distributions paid to stockholders and OP unit holders of record subsequent to December 31, 2023 were as follows (dollars in thousands, excluding per share amounts): </context> | us-gaap:CommonStockDividendsPerShareDeclared |
—In 2023, we declared and paid monthly distributions of $ 0.0933 per share and OP unit, or $ 1.12 annualized, for each month beginning January 2023 through August 2023. On September 1, 2023, the Board authorized a 4.5 % increase of our monthly distribution rate to $ 0.0975 per common share and OP unit. We declared and paid monthly distributions of $ 0.0975 per share and OP unit, or $ 1.17 annualized, for each month beginning September 2023 through December 2023. Distributions paid to stockholders and OP unit holders of record subsequent to December 31, 2023 were as follows (dollars in thousands, excluding per share amounts): | text | 1.17 | perShareItemType | text: <entity> 1.17 </entity> <entity type> perShareItemType </entity type> <context> —In 2023, we declared and paid monthly distributions of $ 0.0933 per share and OP unit, or $ 1.12 annualized, for each month beginning January 2023 through August 2023. On September 1, 2023, the Board authorized a 4.5 % increase of our monthly distribution rate to $ 0.0975 per common share and OP unit. We declared and paid monthly distributions of $ 0.0975 per share and OP unit, or $ 1.17 annualized, for each month beginning September 2023 through December 2023. Distributions paid to stockholders and OP unit holders of record subsequent to December 31, 2023 were as follows (dollars in thousands, excluding per share amounts): </context> | us-gaap:CommonStockDividendsPerShareDeclared |
—As of December 31, 2023 and 2022, we had approximately 13.8 million and 14.1 million outstanding non-voting OP units, respectively. Additionally, certain of our outstanding restricted share and performance share awards will result in the issuance of OP units upon vesting in future periods. These are included in the outstanding unvested award totals disclosed in Note 13. | text | 13.8 | sharesItemType | text: <entity> 13.8 </entity> <entity type> sharesItemType </entity type> <context> —As of December 31, 2023 and 2022, we had approximately 13.8 million and 14.1 million outstanding non-voting OP units, respectively. Additionally, certain of our outstanding restricted share and performance share awards will result in the issuance of OP units upon vesting in future periods. These are included in the outstanding unvested award totals disclosed in Note 13. </context> | us-gaap:LimitedPartnersCapitalAccountUnitsOutstanding |
—As of December 31, 2023 and 2022, we had approximately 13.8 million and 14.1 million outstanding non-voting OP units, respectively. Additionally, certain of our outstanding restricted share and performance share awards will result in the issuance of OP units upon vesting in future periods. These are included in the outstanding unvested award totals disclosed in Note 13. | text | 14.1 | sharesItemType | text: <entity> 14.1 </entity> <entity type> sharesItemType </entity type> <context> —As of December 31, 2023 and 2022, we had approximately 13.8 million and 14.1 million outstanding non-voting OP units, respectively. Additionally, certain of our outstanding restricted share and performance share awards will result in the issuance of OP units upon vesting in future periods. These are included in the outstanding unvested award totals disclosed in Note 13. </context> | us-gaap:LimitedPartnersCapitalAccountUnitsOutstanding |
On January 18, 2022, we issued approximately 1.6 million OP units in full settlement of the earn-out liability (see note 16). | text | 1.6 | sharesItemType | text: <entity> 1.6 </entity> <entity type> sharesItemType </entity type> <context> On January 18, 2022, we issued approximately 1.6 million OP units in full settlement of the earn-out liability (see note 16). </context> | us-gaap:BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued |
The performance period for the performance-based awards granted in 2018 and 2019 ended on December 31, 2020 and 2021, respectively. Based on our performance through December 31, 2020 and 2021, these awards would have been earned at maximum, but because our NAV per share growth for that same performance period was negative, the amount of earned awards was capped at the target amount. Based on the performance of common stock closing prices throughout the fourth quarter of 2021, we believed it was more than probable that we would achieve positive NAV per share growth for 20 consecutive trading days prior to December 31, 2025 and 2026. As such, we recognized approximately $ 4.2 million of expense associated with achieving the maximum award for both of these grants during the year ended December 31, 2021, of which $ 3.2 million was recorded in General and Administrative and $ 1.0 million was recorded in Property Operating on our consolidated statements of operations. During the year ended December 31, 2022, the unearned portion in excess of target and up to the maximum vested as our NAV per share growth became positive. | text | 4.2 | monetaryItemType | text: <entity> 4.2 </entity> <entity type> monetaryItemType </entity type> <context> The performance period for the performance-based awards granted in 2018 and 2019 ended on December 31, 2020 and 2021, respectively. Based on our performance through December 31, 2020 and 2021, these awards would have been earned at maximum, but because our NAV per share growth for that same performance period was negative, the amount of earned awards was capped at the target amount. Based on the performance of common stock closing prices throughout the fourth quarter of 2021, we believed it was more than probable that we would achieve positive NAV per share growth for 20 consecutive trading days prior to December 31, 2025 and 2026. As such, we recognized approximately $ 4.2 million of expense associated with achieving the maximum award for both of these grants during the year ended December 31, 2021, of which $ 3.2 million was recorded in General and Administrative and $ 1.0 million was recorded in Property Operating on our consolidated statements of operations. During the year ended December 31, 2022, the unearned portion in excess of target and up to the maximum vested as our NAV per share growth became positive. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardAcceleratedCompensationCost |
The performance period for the performance-based awards granted in 2018 and 2019 ended on December 31, 2020 and 2021, respectively. Based on our performance through December 31, 2020 and 2021, these awards would have been earned at maximum, but because our NAV per share growth for that same performance period was negative, the amount of earned awards was capped at the target amount. Based on the performance of common stock closing prices throughout the fourth quarter of 2021, we believed it was more than probable that we would achieve positive NAV per share growth for 20 consecutive trading days prior to December 31, 2025 and 2026. As such, we recognized approximately $ 4.2 million of expense associated with achieving the maximum award for both of these grants during the year ended December 31, 2021, of which $ 3.2 million was recorded in General and Administrative and $ 1.0 million was recorded in Property Operating on our consolidated statements of operations. During the year ended December 31, 2022, the unearned portion in excess of target and up to the maximum vested as our NAV per share growth became positive. | text | 3.2 | monetaryItemType | text: <entity> 3.2 </entity> <entity type> monetaryItemType </entity type> <context> The performance period for the performance-based awards granted in 2018 and 2019 ended on December 31, 2020 and 2021, respectively. Based on our performance through December 31, 2020 and 2021, these awards would have been earned at maximum, but because our NAV per share growth for that same performance period was negative, the amount of earned awards was capped at the target amount. Based on the performance of common stock closing prices throughout the fourth quarter of 2021, we believed it was more than probable that we would achieve positive NAV per share growth for 20 consecutive trading days prior to December 31, 2025 and 2026. As such, we recognized approximately $ 4.2 million of expense associated with achieving the maximum award for both of these grants during the year ended December 31, 2021, of which $ 3.2 million was recorded in General and Administrative and $ 1.0 million was recorded in Property Operating on our consolidated statements of operations. During the year ended December 31, 2022, the unearned portion in excess of target and up to the maximum vested as our NAV per share growth became positive. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardAcceleratedCompensationCost |
The performance period for the performance-based awards granted in 2018 and 2019 ended on December 31, 2020 and 2021, respectively. Based on our performance through December 31, 2020 and 2021, these awards would have been earned at maximum, but because our NAV per share growth for that same performance period was negative, the amount of earned awards was capped at the target amount. Based on the performance of common stock closing prices throughout the fourth quarter of 2021, we believed it was more than probable that we would achieve positive NAV per share growth for 20 consecutive trading days prior to December 31, 2025 and 2026. As such, we recognized approximately $ 4.2 million of expense associated with achieving the maximum award for both of these grants during the year ended December 31, 2021, of which $ 3.2 million was recorded in General and Administrative and $ 1.0 million was recorded in Property Operating on our consolidated statements of operations. During the year ended December 31, 2022, the unearned portion in excess of target and up to the maximum vested as our NAV per share growth became positive. | text | 1.0 | monetaryItemType | text: <entity> 1.0 </entity> <entity type> monetaryItemType </entity type> <context> The performance period for the performance-based awards granted in 2018 and 2019 ended on December 31, 2020 and 2021, respectively. Based on our performance through December 31, 2020 and 2021, these awards would have been earned at maximum, but because our NAV per share growth for that same performance period was negative, the amount of earned awards was capped at the target amount. Based on the performance of common stock closing prices throughout the fourth quarter of 2021, we believed it was more than probable that we would achieve positive NAV per share growth for 20 consecutive trading days prior to December 31, 2025 and 2026. As such, we recognized approximately $ 4.2 million of expense associated with achieving the maximum award for both of these grants during the year ended December 31, 2021, of which $ 3.2 million was recorded in General and Administrative and $ 1.0 million was recorded in Property Operating on our consolidated statements of operations. During the year ended December 31, 2022, the unearned portion in excess of target and up to the maximum vested as our NAV per share growth became positive. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardAcceleratedCompensationCost |
—In connection with our underwritten IPO, we issued a total of 0.5 million RSUs, inclusive of 0.3 million OP units, and restricted stock awards in the form of time-based stock compensation awards with expenses included within Other Expense, Net on our consolidated statements of operations. Included in the restricted stock awards were 24,000 RSUs granted to our independent directors. The shares have a grant price of $ 28.00 per share and, with the exception of one individual whose award is subject to accelerated vesting provisions, 50 % of the shares vested after 18 months and the remaining 50 % will vest after 36 months. | text | 0.5 | sharesItemType | text: <entity> 0.5 </entity> <entity type> sharesItemType </entity type> <context> —In connection with our underwritten IPO, we issued a total of 0.5 million RSUs, inclusive of 0.3 million OP units, and restricted stock awards in the form of time-based stock compensation awards with expenses included within Other Expense, Net on our consolidated statements of operations. Included in the restricted stock awards were 24,000 RSUs granted to our independent directors. The shares have a grant price of $ 28.00 per share and, with the exception of one individual whose award is subject to accelerated vesting provisions, 50 % of the shares vested after 18 months and the remaining 50 % will vest after 36 months. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted |
—In connection with our underwritten IPO, we issued a total of 0.5 million RSUs, inclusive of 0.3 million OP units, and restricted stock awards in the form of time-based stock compensation awards with expenses included within Other Expense, Net on our consolidated statements of operations. Included in the restricted stock awards were 24,000 RSUs granted to our independent directors. The shares have a grant price of $ 28.00 per share and, with the exception of one individual whose award is subject to accelerated vesting provisions, 50 % of the shares vested after 18 months and the remaining 50 % will vest after 36 months. | text | 0.3 | sharesItemType | text: <entity> 0.3 </entity> <entity type> sharesItemType </entity type> <context> —In connection with our underwritten IPO, we issued a total of 0.5 million RSUs, inclusive of 0.3 million OP units, and restricted stock awards in the form of time-based stock compensation awards with expenses included within Other Expense, Net on our consolidated statements of operations. Included in the restricted stock awards were 24,000 RSUs granted to our independent directors. The shares have a grant price of $ 28.00 per share and, with the exception of one individual whose award is subject to accelerated vesting provisions, 50 % of the shares vested after 18 months and the remaining 50 % will vest after 36 months. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted |
—In connection with our underwritten IPO, we issued a total of 0.5 million RSUs, inclusive of 0.3 million OP units, and restricted stock awards in the form of time-based stock compensation awards with expenses included within Other Expense, Net on our consolidated statements of operations. Included in the restricted stock awards were 24,000 RSUs granted to our independent directors. The shares have a grant price of $ 28.00 per share and, with the exception of one individual whose award is subject to accelerated vesting provisions, 50 % of the shares vested after 18 months and the remaining 50 % will vest after 36 months. | text | 24000 | sharesItemType | text: <entity> 24000 </entity> <entity type> sharesItemType </entity type> <context> —In connection with our underwritten IPO, we issued a total of 0.5 million RSUs, inclusive of 0.3 million OP units, and restricted stock awards in the form of time-based stock compensation awards with expenses included within Other Expense, Net on our consolidated statements of operations. Included in the restricted stock awards were 24,000 RSUs granted to our independent directors. The shares have a grant price of $ 28.00 per share and, with the exception of one individual whose award is subject to accelerated vesting provisions, 50 % of the shares vested after 18 months and the remaining 50 % will vest after 36 months. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted |
—In connection with our underwritten IPO, we issued a total of 0.5 million RSUs, inclusive of 0.3 million OP units, and restricted stock awards in the form of time-based stock compensation awards with expenses included within Other Expense, Net on our consolidated statements of operations. Included in the restricted stock awards were 24,000 RSUs granted to our independent directors. The shares have a grant price of $ 28.00 per share and, with the exception of one individual whose award is subject to accelerated vesting provisions, 50 % of the shares vested after 18 months and the remaining 50 % will vest after 36 months. | text | 28.00 | perShareItemType | text: <entity> 28.00 </entity> <entity type> perShareItemType </entity type> <context> —In connection with our underwritten IPO, we issued a total of 0.5 million RSUs, inclusive of 0.3 million OP units, and restricted stock awards in the form of time-based stock compensation awards with expenses included within Other Expense, Net on our consolidated statements of operations. Included in the restricted stock awards were 24,000 RSUs granted to our independent directors. The shares have a grant price of $ 28.00 per share and, with the exception of one individual whose award is subject to accelerated vesting provisions, 50 % of the shares vested after 18 months and the remaining 50 % will vest after 36 months. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue |
—In connection with our underwritten IPO, we issued a total of 0.5 million RSUs, inclusive of 0.3 million OP units, and restricted stock awards in the form of time-based stock compensation awards with expenses included within Other Expense, Net on our consolidated statements of operations. Included in the restricted stock awards were 24,000 RSUs granted to our independent directors. The shares have a grant price of $ 28.00 per share and, with the exception of one individual whose award is subject to accelerated vesting provisions, 50 % of the shares vested after 18 months and the remaining 50 % will vest after 36 months. | text | 50 | percentItemType | text: <entity> 50 </entity> <entity type> percentItemType </entity type> <context> —In connection with our underwritten IPO, we issued a total of 0.5 million RSUs, inclusive of 0.3 million OP units, and restricted stock awards in the form of time-based stock compensation awards with expenses included within Other Expense, Net on our consolidated statements of operations. Included in the restricted stock awards were 24,000 RSUs granted to our independent directors. The shares have a grant price of $ 28.00 per share and, with the exception of one individual whose award is subject to accelerated vesting provisions, 50 % of the shares vested after 18 months and the remaining 50 % will vest after 36 months. </context> | us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage |
The Board approves restricted stock awards pursuant to our Amended and Restated 2010 Independent Director Stock Plan. The awards are granted to our independent directors as service-based awards. As of December 31, 2023 and 2022, there were approximately 27,000 and 24,000 outstanding unvested awards granted to independent directors, respectively, in connection with the 2010 Independent Director Stock Plan. | text | 27000 | sharesItemType | text: <entity> 27000 </entity> <entity type> sharesItemType </entity type> <context> The Board approves restricted stock awards pursuant to our Amended and Restated 2010 Independent Director Stock Plan. The awards are granted to our independent directors as service-based awards. As of December 31, 2023 and 2022, there were approximately 27,000 and 24,000 outstanding unvested awards granted to independent directors, respectively, in connection with the 2010 Independent Director Stock Plan. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber |
The Board approves restricted stock awards pursuant to our Amended and Restated 2010 Independent Director Stock Plan. The awards are granted to our independent directors as service-based awards. As of December 31, 2023 and 2022, there were approximately 27,000 and 24,000 outstanding unvested awards granted to independent directors, respectively, in connection with the 2010 Independent Director Stock Plan. | text | 24000 | sharesItemType | text: <entity> 24000 </entity> <entity type> sharesItemType </entity type> <context> The Board approves restricted stock awards pursuant to our Amended and Restated 2010 Independent Director Stock Plan. The awards are granted to our independent directors as service-based awards. As of December 31, 2023 and 2022, there were approximately 27,000 and 24,000 outstanding unvested awards granted to independent directors, respectively, in connection with the 2010 Independent Director Stock Plan. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber |
The maximum number of award units that could be issued under all outstanding grants was 1.8 million as of December 31, 2023. The number of award units expected to vest was 1.1 million as of December 31, 2023. | text | 1.8 | sharesItemType | text: <entity> 1.8 </entity> <entity type> sharesItemType </entity type> <context> The maximum number of award units that could be issued under all outstanding grants was 1.8 million as of December 31, 2023. The number of award units expected to vest was 1.1 million as of December 31, 2023. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized |
The expense for all stock-based awards during the years ended December 31, 2023, 2022, and 2021 was $ 9.4 million, $ 14.9 million, and $ 16.8 million, respectively. We had $ 11.5 million of unrecognized compensation costs related to these awards that we expect to recognize over a weighted average period of approximately two years . The fair value at the vesting date for stock-based awards that vested during the year ended December 31, 2023 was $ 19.5 million. | text | 9.4 | monetaryItemType | text: <entity> 9.4 </entity> <entity type> monetaryItemType </entity type> <context> The expense for all stock-based awards during the years ended December 31, 2023, 2022, and 2021 was $ 9.4 million, $ 14.9 million, and $ 16.8 million, respectively. We had $ 11.5 million of unrecognized compensation costs related to these awards that we expect to recognize over a weighted average period of approximately two years . The fair value at the vesting date for stock-based awards that vested during the year ended December 31, 2023 was $ 19.5 million. </context> | us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1 |
The expense for all stock-based awards during the years ended December 31, 2023, 2022, and 2021 was $ 9.4 million, $ 14.9 million, and $ 16.8 million, respectively. We had $ 11.5 million of unrecognized compensation costs related to these awards that we expect to recognize over a weighted average period of approximately two years . The fair value at the vesting date for stock-based awards that vested during the year ended December 31, 2023 was $ 19.5 million. | text | 14.9 | monetaryItemType | text: <entity> 14.9 </entity> <entity type> monetaryItemType </entity type> <context> The expense for all stock-based awards during the years ended December 31, 2023, 2022, and 2021 was $ 9.4 million, $ 14.9 million, and $ 16.8 million, respectively. We had $ 11.5 million of unrecognized compensation costs related to these awards that we expect to recognize over a weighted average period of approximately two years . The fair value at the vesting date for stock-based awards that vested during the year ended December 31, 2023 was $ 19.5 million. </context> | us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1 |
The expense for all stock-based awards during the years ended December 31, 2023, 2022, and 2021 was $ 9.4 million, $ 14.9 million, and $ 16.8 million, respectively. We had $ 11.5 million of unrecognized compensation costs related to these awards that we expect to recognize over a weighted average period of approximately two years . The fair value at the vesting date for stock-based awards that vested during the year ended December 31, 2023 was $ 19.5 million. | text | 16.8 | monetaryItemType | text: <entity> 16.8 </entity> <entity type> monetaryItemType </entity type> <context> The expense for all stock-based awards during the years ended December 31, 2023, 2022, and 2021 was $ 9.4 million, $ 14.9 million, and $ 16.8 million, respectively. We had $ 11.5 million of unrecognized compensation costs related to these awards that we expect to recognize over a weighted average period of approximately two years . The fair value at the vesting date for stock-based awards that vested during the year ended December 31, 2023 was $ 19.5 million. </context> | us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1 |
The expense for all stock-based awards during the years ended December 31, 2023, 2022, and 2021 was $ 9.4 million, $ 14.9 million, and $ 16.8 million, respectively. We had $ 11.5 million of unrecognized compensation costs related to these awards that we expect to recognize over a weighted average period of approximately two years . The fair value at the vesting date for stock-based awards that vested during the year ended December 31, 2023 was $ 19.5 million. | text | 11.5 | monetaryItemType | text: <entity> 11.5 </entity> <entity type> monetaryItemType </entity type> <context> The expense for all stock-based awards during the years ended December 31, 2023, 2022, and 2021 was $ 9.4 million, $ 14.9 million, and $ 16.8 million, respectively. We had $ 11.5 million of unrecognized compensation costs related to these awards that we expect to recognize over a weighted average period of approximately two years . The fair value at the vesting date for stock-based awards that vested during the year ended December 31, 2023 was $ 19.5 million. </context> | us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions |
The expense for all stock-based awards during the years ended December 31, 2023, 2022, and 2021 was $ 9.4 million, $ 14.9 million, and $ 16.8 million, respectively. We had $ 11.5 million of unrecognized compensation costs related to these awards that we expect to recognize over a weighted average period of approximately two years . The fair value at the vesting date for stock-based awards that vested during the year ended December 31, 2023 was $ 19.5 million. | text | 19.5 | monetaryItemType | text: <entity> 19.5 </entity> <entity type> monetaryItemType </entity type> <context> The expense for all stock-based awards during the years ended December 31, 2023, 2022, and 2021 was $ 9.4 million, $ 14.9 million, and $ 16.8 million, respectively. We had $ 11.5 million of unrecognized compensation costs related to these awards that we expect to recognize over a weighted average period of approximately two years . The fair value at the vesting date for stock-based awards that vested during the year ended December 31, 2023 was $ 19.5 million. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue |
—We sponsor a 401(k) plan that provides benefits for qualified employees. Our match of the employee contributions is discretionary and has a five-year vesting schedule. The cash contributions to the plan for the years ended December 31, 2023, 2022, and 2021 were approximately $ 1.1 million, $ 1.0 million, and $ 1.0 million, respectively. All employees who have attained the age of 21 are eligible to participate starting the first day of the month following their date of hire. Employees are vested immediately with respect to employee contributions. | text | 1.1 | monetaryItemType | text: <entity> 1.1 </entity> <entity type> monetaryItemType </entity type> <context> —We sponsor a 401(k) plan that provides benefits for qualified employees. Our match of the employee contributions is discretionary and has a five-year vesting schedule. The cash contributions to the plan for the years ended December 31, 2023, 2022, and 2021 were approximately $ 1.1 million, $ 1.0 million, and $ 1.0 million, respectively. All employees who have attained the age of 21 are eligible to participate starting the first day of the month following their date of hire. Employees are vested immediately with respect to employee contributions. </context> | us-gaap:DefinedContributionPlanEmployerDiscretionaryContributionAmount |
—We sponsor a 401(k) plan that provides benefits for qualified employees. Our match of the employee contributions is discretionary and has a five-year vesting schedule. The cash contributions to the plan for the years ended December 31, 2023, 2022, and 2021 were approximately $ 1.1 million, $ 1.0 million, and $ 1.0 million, respectively. All employees who have attained the age of 21 are eligible to participate starting the first day of the month following their date of hire. Employees are vested immediately with respect to employee contributions. | text | 1.0 | monetaryItemType | text: <entity> 1.0 </entity> <entity type> monetaryItemType </entity type> <context> —We sponsor a 401(k) plan that provides benefits for qualified employees. Our match of the employee contributions is discretionary and has a five-year vesting schedule. The cash contributions to the plan for the years ended December 31, 2023, 2022, and 2021 were approximately $ 1.1 million, $ 1.0 million, and $ 1.0 million, respectively. All employees who have attained the age of 21 are eligible to participate starting the first day of the month following their date of hire. Employees are vested immediately with respect to employee contributions. </context> | us-gaap:DefinedContributionPlanEmployerDiscretionaryContributionAmount |
Includes 4.4 million and 93.6 million weighted-average shares of Class B common stock and 111.0 million and 8.8 million weighted-average shares of common stock during the years ended December 31, 2022 and 2021, respectively. | text | 4.4 | sharesItemType | text: <entity> 4.4 </entity> <entity type> sharesItemType </entity type> <context> Includes 4.4 million and 93.6 million weighted-average shares of Class B common stock and 111.0 million and 8.8 million weighted-average shares of common stock during the years ended December 31, 2022 and 2021, respectively. </context> | us-gaap:WeightedAverageNumberOfSharesOutstandingBasic |
Includes 4.4 million and 93.6 million weighted-average shares of Class B common stock and 111.0 million and 8.8 million weighted-average shares of common stock during the years ended December 31, 2022 and 2021, respectively. | text | 93.6 | sharesItemType | text: <entity> 93.6 </entity> <entity type> sharesItemType </entity type> <context> Includes 4.4 million and 93.6 million weighted-average shares of Class B common stock and 111.0 million and 8.8 million weighted-average shares of common stock during the years ended December 31, 2022 and 2021, respectively. </context> | us-gaap:WeightedAverageNumberOfSharesOutstandingBasic |
Includes 4.4 million and 93.6 million weighted-average shares of Class B common stock and 111.0 million and 8.8 million weighted-average shares of common stock during the years ended December 31, 2022 and 2021, respectively. | text | 111.0 | sharesItemType | text: <entity> 111.0 </entity> <entity type> sharesItemType </entity type> <context> Includes 4.4 million and 93.6 million weighted-average shares of Class B common stock and 111.0 million and 8.8 million weighted-average shares of common stock during the years ended December 31, 2022 and 2021, respectively. </context> | us-gaap:WeightedAverageNumberOfSharesOutstandingBasic |
Includes 4.4 million and 93.6 million weighted-average shares of Class B common stock and 111.0 million and 8.8 million weighted-average shares of common stock during the years ended December 31, 2022 and 2021, respectively. | text | 8.8 | sharesItemType | text: <entity> 8.8 </entity> <entity type> sharesItemType </entity type> <context> Includes 4.4 million and 93.6 million weighted-average shares of Class B common stock and 111.0 million and 8.8 million weighted-average shares of common stock during the years ended December 31, 2022 and 2021, respectively. </context> | us-gaap:WeightedAverageNumberOfSharesOutstandingBasic |
For the year ended December 31, 2021, diluted weighted-average shares include 0.7 million OP units awarded as a result of the full settlement of the earn-out in January 2022 (see Note 16). | text | 0.7 | sharesItemType | text: <entity> 0.7 </entity> <entity type> sharesItemType </entity type> <context> For the year ended December 31, 2021, diluted weighted-average shares include 0.7 million OP units awarded as a result of the full settlement of the earn-out in January 2022 (see Note 16). </context> | us-gaap:WeightedAverageNumberDilutedSharesOutstandingAdjustment |
—Through our Operating Partnership, we are currently party to a tax protection agreement (the “2017 TPA”) with certain partners that contributed property to our Operating Partnership on October 4, 2017, among them certain of our executive officers, including Jeffrey S. Edison, our Chairman and Chief Executive Officer, under which the Operating Partnership agreed to indemnify such partners for tax liabilities that could accrue to them personally related to our potential disposition of certain properties within our portfolio. The 2017 TPA will expire on October 4, 2027. On July 19, 2021, we entered into an additional tax protection agreement (the “2021 TPA”) with certain of our executive officers, including Mr. Edison. The 2021 TPA carries a term of four years and will become effective upon the expiration of the 2017 TPA. As of December 31, 2023, the potential “make-whole amount” on the estimated aggregate amount of built-in gain subject to protection under the agreements is approximately $ 122.7 million. The protection provided under the terms of the 2021 TPA will expire in 2031. We have not recorded any liability related to the 2017 TPA or the 2021 TPA on our consolidated balance sheets for any periods presented, nor recognized any expense since the inception of the 2017 TPA, owing to the fact that any potential liability under the agreements is controlled by us and we believe we will either (i) continue to own and operate the protected properties or (ii) be able to successfully complete Section 1031 Exchanges (unless there is a change in applicable law) or complete other tax-efficient transactions to avoid any liability under the agreements. | text | 122.7 | monetaryItemType | text: <entity> 122.7 </entity> <entity type> monetaryItemType </entity type> <context> —Through our Operating Partnership, we are currently party to a tax protection agreement (the “2017 TPA”) with certain partners that contributed property to our Operating Partnership on October 4, 2017, among them certain of our executive officers, including Jeffrey S. Edison, our Chairman and Chief Executive Officer, under which the Operating Partnership agreed to indemnify such partners for tax liabilities that could accrue to them personally related to our potential disposition of certain properties within our portfolio. The 2017 TPA will expire on October 4, 2027. On July 19, 2021, we entered into an additional tax protection agreement (the “2021 TPA”) with certain of our executive officers, including Mr. Edison. The 2021 TPA carries a term of four years and will become effective upon the expiration of the 2017 TPA. As of December 31, 2023, the potential “make-whole amount” on the estimated aggregate amount of built-in gain subject to protection under the agreements is approximately $ 122.7 million. The protection provided under the terms of the 2021 TPA will expire in 2031. We have not recorded any liability related to the 2017 TPA or the 2021 TPA on our consolidated balance sheets for any periods presented, nor recognized any expense since the inception of the 2017 TPA, owing to the fact that any potential liability under the agreements is controlled by us and we believe we will either (i) continue to own and operate the protected properties or (ii) be able to successfully complete Section 1031 Exchanges (unless there is a change in applicable law) or complete other tax-efficient transactions to avoid any liability under the agreements. </context> | us-gaap:FairValueDisclosureOffbalanceSheetRisksAmountLiability |
—As of December 31, 2023, we were the limited guarantor of a $ 175 million mortgage loan secured by GRP I properties. Our guaranty for the GRP I debt is limited to being the non-recourse carveout guarantor and the environmental indemnitor. Further, we are also party to an agreement with GRP I in which any potential liability under such guarantee will be apportioned between us and GRP I based on our respective ownership percentages in the joint venture. We have no liability recorded on our consolidated balance sheets for the guaranty as of December 31, 2023 and 2022. | text | 175 | monetaryItemType | text: <entity> 175 </entity> <entity type> monetaryItemType </entity type> <context> —As of December 31, 2023, we were the limited guarantor of a $ 175 million mortgage loan secured by GRP I properties. Our guaranty for the GRP I debt is limited to being the non-recourse carveout guarantor and the environmental indemnitor. Further, we are also party to an agreement with GRP I in which any potential liability under such guarantee will be apportioned between us and GRP I based on our respective ownership percentages in the joint venture. We have no liability recorded on our consolidated balance sheets for the guaranty as of December 31, 2023 and 2022. </context> | us-gaap:GuaranteeObligationsMaximumExposure |
In December 2022, we contributed certain assets to a third-party company in exchange for a warrant representing a 15 % equity interest in the company, subject to certain conditions. This non-cash investment had a fair market value of $ 6.8 million, was accounted for as an equity method investment, and was recorded in Other Assets, Net. In connection with the transaction, we entered into a services contract for the use of these assets with the third-party company for a term of five years , with a required minimum annual payment by us of $ 1.2 million. For the year ended December 31, 2023, we paid service fees of $ 1.9 million and recorded equity income of $ 0.1 million. | text | 15 | percentItemType | text: <entity> 15 </entity> <entity type> percentItemType </entity type> <context> In December 2022, we contributed certain assets to a third-party company in exchange for a warrant representing a 15 % equity interest in the company, subject to certain conditions. This non-cash investment had a fair market value of $ 6.8 million, was accounted for as an equity method investment, and was recorded in Other Assets, Net. In connection with the transaction, we entered into a services contract for the use of these assets with the third-party company for a term of five years , with a required minimum annual payment by us of $ 1.2 million. For the year ended December 31, 2023, we paid service fees of $ 1.9 million and recorded equity income of $ 0.1 million. </context> | us-gaap:EquityMethodInvestmentOwnershipPercentage |
In December 2022, we contributed certain assets to a third-party company in exchange for a warrant representing a 15 % equity interest in the company, subject to certain conditions. This non-cash investment had a fair market value of $ 6.8 million, was accounted for as an equity method investment, and was recorded in Other Assets, Net. In connection with the transaction, we entered into a services contract for the use of these assets with the third-party company for a term of five years , with a required minimum annual payment by us of $ 1.2 million. For the year ended December 31, 2023, we paid service fees of $ 1.9 million and recorded equity income of $ 0.1 million. | text | 6.8 | monetaryItemType | text: <entity> 6.8 </entity> <entity type> monetaryItemType </entity type> <context> In December 2022, we contributed certain assets to a third-party company in exchange for a warrant representing a 15 % equity interest in the company, subject to certain conditions. This non-cash investment had a fair market value of $ 6.8 million, was accounted for as an equity method investment, and was recorded in Other Assets, Net. In connection with the transaction, we entered into a services contract for the use of these assets with the third-party company for a term of five years , with a required minimum annual payment by us of $ 1.2 million. For the year ended December 31, 2023, we paid service fees of $ 1.9 million and recorded equity income of $ 0.1 million. </context> | us-gaap:EquityMethodInvestments |
In December 2022, we contributed certain assets to a third-party company in exchange for a warrant representing a 15 % equity interest in the company, subject to certain conditions. This non-cash investment had a fair market value of $ 6.8 million, was accounted for as an equity method investment, and was recorded in Other Assets, Net. In connection with the transaction, we entered into a services contract for the use of these assets with the third-party company for a term of five years , with a required minimum annual payment by us of $ 1.2 million. For the year ended December 31, 2023, we paid service fees of $ 1.9 million and recorded equity income of $ 0.1 million. | text | 0.1 | monetaryItemType | text: <entity> 0.1 </entity> <entity type> monetaryItemType </entity type> <context> In December 2022, we contributed certain assets to a third-party company in exchange for a warrant representing a 15 % equity interest in the company, subject to certain conditions. This non-cash investment had a fair market value of $ 6.8 million, was accounted for as an equity method investment, and was recorded in Other Assets, Net. In connection with the transaction, we entered into a services contract for the use of these assets with the third-party company for a term of five years , with a required minimum annual payment by us of $ 1.2 million. For the year ended December 31, 2023, we paid service fees of $ 1.9 million and recorded equity income of $ 0.1 million. </context> | us-gaap:IncomeLossFromEquityMethodInvestments |
During 2021, we made a cash investment of $ 3.0 million into a third-party company in exchange for preferred shares of their stock. As part of the investment agreement, the third-party company entered into leases at two of our properties. During 2023, we determined that the investment in the third-party company was fully impaired due to the value of the investment being significantly reduced, which is not deemed to be temporary, indicated by the company’s inability to pay rent. As a result, we recorded impairment expense of $ 3.0 million in Other Expense, Net on our consolidated statement of operations for the year ended December 31, 2023 and reserved tenant receivables of $ 0.2 million as of December 31, 2023 as the company is considered to be non-creditworthy. | text | 3.0 | monetaryItemType | text: <entity> 3.0 </entity> <entity type> monetaryItemType </entity type> <context> During 2021, we made a cash investment of $ 3.0 million into a third-party company in exchange for preferred shares of their stock. As part of the investment agreement, the third-party company entered into leases at two of our properties. During 2023, we determined that the investment in the third-party company was fully impaired due to the value of the investment being significantly reduced, which is not deemed to be temporary, indicated by the company’s inability to pay rent. As a result, we recorded impairment expense of $ 3.0 million in Other Expense, Net on our consolidated statement of operations for the year ended December 31, 2023 and reserved tenant receivables of $ 0.2 million as of December 31, 2023 as the company is considered to be non-creditworthy. </context> | us-gaap:EquityMethodInvestments |
During 2021, we made a cash investment of $ 3.0 million into a third-party company in exchange for preferred shares of their stock. As part of the investment agreement, the third-party company entered into leases at two of our properties. During 2023, we determined that the investment in the third-party company was fully impaired due to the value of the investment being significantly reduced, which is not deemed to be temporary, indicated by the company’s inability to pay rent. As a result, we recorded impairment expense of $ 3.0 million in Other Expense, Net on our consolidated statement of operations for the year ended December 31, 2023 and reserved tenant receivables of $ 0.2 million as of December 31, 2023 as the company is considered to be non-creditworthy. | text | 3.0 | monetaryItemType | text: <entity> 3.0 </entity> <entity type> monetaryItemType </entity type> <context> During 2021, we made a cash investment of $ 3.0 million into a third-party company in exchange for preferred shares of their stock. As part of the investment agreement, the third-party company entered into leases at two of our properties. During 2023, we determined that the investment in the third-party company was fully impaired due to the value of the investment being significantly reduced, which is not deemed to be temporary, indicated by the company’s inability to pay rent. As a result, we recorded impairment expense of $ 3.0 million in Other Expense, Net on our consolidated statement of operations for the year ended December 31, 2023 and reserved tenant receivables of $ 0.2 million as of December 31, 2023 as the company is considered to be non-creditworthy. </context> | us-gaap:OtherAssetImpairmentCharges |
During 2021, we made a cash investment of $ 3.0 million into a third-party company in exchange for preferred shares of their stock. As part of the investment agreement, the third-party company entered into leases at two of our properties. During 2023, we determined that the investment in the third-party company was fully impaired due to the value of the investment being significantly reduced, which is not deemed to be temporary, indicated by the company’s inability to pay rent. As a result, we recorded impairment expense of $ 3.0 million in Other Expense, Net on our consolidated statement of operations for the year ended December 31, 2023 and reserved tenant receivables of $ 0.2 million as of December 31, 2023 as the company is considered to be non-creditworthy. | text | 0.2 | monetaryItemType | text: <entity> 0.2 </entity> <entity type> monetaryItemType </entity type> <context> During 2021, we made a cash investment of $ 3.0 million into a third-party company in exchange for preferred shares of their stock. As part of the investment agreement, the third-party company entered into leases at two of our properties. During 2023, we determined that the investment in the third-party company was fully impaired due to the value of the investment being significantly reduced, which is not deemed to be temporary, indicated by the company’s inability to pay rent. As a result, we recorded impairment expense of $ 3.0 million in Other Expense, Net on our consolidated statement of operations for the year ended December 31, 2023 and reserved tenant receivables of $ 0.2 million as of December 31, 2023 as the company is considered to be non-creditworthy. </context> | us-gaap:IncreaseDecreaseInDueToRelatedParties |
As of December 31, 2023 and 2022, respectively, recorded principal balances include: (i) net deferred financing fees of $ 10.3 million and $ 8.0 million; (ii) assumed market debt adjustments of $ 0.9 million and $ 1.2 million; and (iii) notes payable discounts of $ 6.3 million and $ 7.0 million. | text | 10.3 | monetaryItemType | text: <entity> 10.3 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2023 and 2022, respectively, recorded principal balances include: (i) net deferred financing fees of $ 10.3 million and $ 8.0 million; (ii) assumed market debt adjustments of $ 0.9 million and $ 1.2 million; and (iii) notes payable discounts of $ 6.3 million and $ 7.0 million. </context> | us-gaap:UnamortizedDebtIssuanceExpense |
As of December 31, 2023 and 2022, respectively, recorded principal balances include: (i) net deferred financing fees of $ 10.3 million and $ 8.0 million; (ii) assumed market debt adjustments of $ 0.9 million and $ 1.2 million; and (iii) notes payable discounts of $ 6.3 million and $ 7.0 million. | text | 8.0 | monetaryItemType | text: <entity> 8.0 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2023 and 2022, respectively, recorded principal balances include: (i) net deferred financing fees of $ 10.3 million and $ 8.0 million; (ii) assumed market debt adjustments of $ 0.9 million and $ 1.2 million; and (iii) notes payable discounts of $ 6.3 million and $ 7.0 million. </context> | us-gaap:UnamortizedDebtIssuanceExpense |
As of December 31, 2023 and 2022, respectively, recorded principal balances include: (i) net deferred financing fees of $ 10.3 million and $ 8.0 million; (ii) assumed market debt adjustments of $ 0.9 million and $ 1.2 million; and (iii) notes payable discounts of $ 6.3 million and $ 7.0 million. | text | 6.3 | monetaryItemType | text: <entity> 6.3 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2023 and 2022, respectively, recorded principal balances include: (i) net deferred financing fees of $ 10.3 million and $ 8.0 million; (ii) assumed market debt adjustments of $ 0.9 million and $ 1.2 million; and (iii) notes payable discounts of $ 6.3 million and $ 7.0 million. </context> | us-gaap:DebtInstrumentUnamortizedDiscountPremiumNet |
As of December 31, 2023 and 2022, respectively, recorded principal balances include: (i) net deferred financing fees of $ 10.3 million and $ 8.0 million; (ii) assumed market debt adjustments of $ 0.9 million and $ 1.2 million; and (iii) notes payable discounts of $ 6.3 million and $ 7.0 million. | text | 7.0 | monetaryItemType | text: <entity> 7.0 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2023 and 2022, respectively, recorded principal balances include: (i) net deferred financing fees of $ 10.3 million and $ 8.0 million; (ii) assumed market debt adjustments of $ 0.9 million and $ 1.2 million; and (iii) notes payable discounts of $ 6.3 million and $ 7.0 million. </context> | us-gaap:DebtInstrumentUnamortizedDiscountPremiumNet |
The fair values of the derivative assets exclude associated accrued interest receivable of $ 1.7 million and $ 1.4 million as of December 31, 2023 and 2022, respectively. | text | 1.7 | monetaryItemType | text: <entity> 1.7 </entity> <entity type> monetaryItemType </entity type> <context> The fair values of the derivative assets exclude associated accrued interest receivable of $ 1.7 million and $ 1.4 million as of December 31, 2023 and 2022, respectively. </context> | us-gaap:InterestReceivable |
The fair values of the derivative assets exclude associated accrued interest receivable of $ 1.7 million and $ 1.4 million as of December 31, 2023 and 2022, respectively. | text | 1.4 | monetaryItemType | text: <entity> 1.4 </entity> <entity type> monetaryItemType </entity type> <context> The fair values of the derivative assets exclude associated accrued interest receivable of $ 1.7 million and $ 1.4 million as of December 31, 2023 and 2022, respectively. </context> | us-gaap:InterestReceivable |
—As part of our acquisition of Phillips Edison Limited Partnership (“PELP”) in 2017, an earn-out structure was established which gave PELP the opportunity to earn additional OP units based upon the potential achievement of certain performance targets subsequent to the acquisition. On January 11, 2022, we finalized the fair value of the earn-out liability based on our share price and issued approximately 1.6 million OP units in full settlement of the liability with a value of $ 54.2 million. Changes in the fair value of the earn-out liability were recorded to Other Expense, Net in the consolidated statements of operations. We recorded no expense during the year ended December 31, 2023. We recorded expense of $ 1.8 million and $ 30.4 million for the years ended December 31, 2022 and 2021, respectively. | text | 1.6 | sharesItemType | text: <entity> 1.6 </entity> <entity type> sharesItemType </entity type> <context> —As part of our acquisition of Phillips Edison Limited Partnership (“PELP”) in 2017, an earn-out structure was established which gave PELP the opportunity to earn additional OP units based upon the potential achievement of certain performance targets subsequent to the acquisition. On January 11, 2022, we finalized the fair value of the earn-out liability based on our share price and issued approximately 1.6 million OP units in full settlement of the liability with a value of $ 54.2 million. Changes in the fair value of the earn-out liability were recorded to Other Expense, Net in the consolidated statements of operations. We recorded no expense during the year ended December 31, 2023. We recorded expense of $ 1.8 million and $ 30.4 million for the years ended December 31, 2022 and 2021, respectively. </context> | us-gaap:BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued |
—As part of our acquisition of Phillips Edison Limited Partnership (“PELP”) in 2017, an earn-out structure was established which gave PELP the opportunity to earn additional OP units based upon the potential achievement of certain performance targets subsequent to the acquisition. On January 11, 2022, we finalized the fair value of the earn-out liability based on our share price and issued approximately 1.6 million OP units in full settlement of the liability with a value of $ 54.2 million. Changes in the fair value of the earn-out liability were recorded to Other Expense, Net in the consolidated statements of operations. We recorded no expense during the year ended December 31, 2023. We recorded expense of $ 1.8 million and $ 30.4 million for the years ended December 31, 2022 and 2021, respectively. | text | 54.2 | monetaryItemType | text: <entity> 54.2 </entity> <entity type> monetaryItemType </entity type> <context> —As part of our acquisition of Phillips Edison Limited Partnership (“PELP”) in 2017, an earn-out structure was established which gave PELP the opportunity to earn additional OP units based upon the potential achievement of certain performance targets subsequent to the acquisition. On January 11, 2022, we finalized the fair value of the earn-out liability based on our share price and issued approximately 1.6 million OP units in full settlement of the liability with a value of $ 54.2 million. Changes in the fair value of the earn-out liability were recorded to Other Expense, Net in the consolidated statements of operations. We recorded no expense during the year ended December 31, 2023. We recorded expense of $ 1.8 million and $ 30.4 million for the years ended December 31, 2022 and 2021, respectively. </context> | us-gaap:FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements |
—As part of our acquisition of Phillips Edison Limited Partnership (“PELP”) in 2017, an earn-out structure was established which gave PELP the opportunity to earn additional OP units based upon the potential achievement of certain performance targets subsequent to the acquisition. On January 11, 2022, we finalized the fair value of the earn-out liability based on our share price and issued approximately 1.6 million OP units in full settlement of the liability with a value of $ 54.2 million. Changes in the fair value of the earn-out liability were recorded to Other Expense, Net in the consolidated statements of operations. We recorded no expense during the year ended December 31, 2023. We recorded expense of $ 1.8 million and $ 30.4 million for the years ended December 31, 2022 and 2021, respectively. | text | no | monetaryItemType | text: <entity> no </entity> <entity type> monetaryItemType </entity type> <context> —As part of our acquisition of Phillips Edison Limited Partnership (“PELP”) in 2017, an earn-out structure was established which gave PELP the opportunity to earn additional OP units based upon the potential achievement of certain performance targets subsequent to the acquisition. On January 11, 2022, we finalized the fair value of the earn-out liability based on our share price and issued approximately 1.6 million OP units in full settlement of the liability with a value of $ 54.2 million. Changes in the fair value of the earn-out liability were recorded to Other Expense, Net in the consolidated statements of operations. We recorded no expense during the year ended December 31, 2023. We recorded expense of $ 1.8 million and $ 30.4 million for the years ended December 31, 2022 and 2021, respectively. </context> | us-gaap:FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings |
—As part of our acquisition of Phillips Edison Limited Partnership (“PELP”) in 2017, an earn-out structure was established which gave PELP the opportunity to earn additional OP units based upon the potential achievement of certain performance targets subsequent to the acquisition. On January 11, 2022, we finalized the fair value of the earn-out liability based on our share price and issued approximately 1.6 million OP units in full settlement of the liability with a value of $ 54.2 million. Changes in the fair value of the earn-out liability were recorded to Other Expense, Net in the consolidated statements of operations. We recorded no expense during the year ended December 31, 2023. We recorded expense of $ 1.8 million and $ 30.4 million for the years ended December 31, 2022 and 2021, respectively. | text | 1.8 | monetaryItemType | text: <entity> 1.8 </entity> <entity type> monetaryItemType </entity type> <context> —As part of our acquisition of Phillips Edison Limited Partnership (“PELP”) in 2017, an earn-out structure was established which gave PELP the opportunity to earn additional OP units based upon the potential achievement of certain performance targets subsequent to the acquisition. On January 11, 2022, we finalized the fair value of the earn-out liability based on our share price and issued approximately 1.6 million OP units in full settlement of the liability with a value of $ 54.2 million. Changes in the fair value of the earn-out liability were recorded to Other Expense, Net in the consolidated statements of operations. We recorded no expense during the year ended December 31, 2023. We recorded expense of $ 1.8 million and $ 30.4 million for the years ended December 31, 2022 and 2021, respectively. </context> | us-gaap:FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings |
—As part of our acquisition of Phillips Edison Limited Partnership (“PELP”) in 2017, an earn-out structure was established which gave PELP the opportunity to earn additional OP units based upon the potential achievement of certain performance targets subsequent to the acquisition. On January 11, 2022, we finalized the fair value of the earn-out liability based on our share price and issued approximately 1.6 million OP units in full settlement of the liability with a value of $ 54.2 million. Changes in the fair value of the earn-out liability were recorded to Other Expense, Net in the consolidated statements of operations. We recorded no expense during the year ended December 31, 2023. We recorded expense of $ 1.8 million and $ 30.4 million for the years ended December 31, 2022 and 2021, respectively. | text | 30.4 | monetaryItemType | text: <entity> 30.4 </entity> <entity type> monetaryItemType </entity type> <context> —As part of our acquisition of Phillips Edison Limited Partnership (“PELP”) in 2017, an earn-out structure was established which gave PELP the opportunity to earn additional OP units based upon the potential achievement of certain performance targets subsequent to the acquisition. On January 11, 2022, we finalized the fair value of the earn-out liability based on our share price and issued approximately 1.6 million OP units in full settlement of the liability with a value of $ 54.2 million. Changes in the fair value of the earn-out liability were recorded to Other Expense, Net in the consolidated statements of operations. We recorded no expense during the year ended December 31, 2023. We recorded expense of $ 1.8 million and $ 30.4 million for the years ended December 31, 2022 and 2021, respectively. </context> | us-gaap:FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings |
− Loews Corporation is a holding company. Its consolidated operating subsidiaries are engaged in the following lines of business: commercial property and casualty insurance (CNA Financial Corporation (“CNA”), an approximately 92 % owned subsidiary); transportation and storage of natural gas and natural gas liquids, olefins and other hydrocarbons (Boardwalk Pipeline Partners, LP (“Boardwalk Pipelines”), a wholly owned subsidiary) and the operation of a chain of hotels (Loews Hotels Holding Corporation (“Loews Hotels & Co”), a wholly owned subsidiary). Unless the context otherwise requires, as used herein, the term “Company” means Loews Corporation including its subsidiaries, the term “Parent Company” means Loews Corporation excluding its subsidiaries and the term “Net income (loss) attributable to Loews Corporation” means Net income (loss) attributable to Loews Corporation shareholders. | text | 92 | percentItemType | text: <entity> 92 </entity> <entity type> percentItemType </entity type> <context> − Loews Corporation is a holding company. Its consolidated operating subsidiaries are engaged in the following lines of business: commercial property and casualty insurance (CNA Financial Corporation (“CNA”), an approximately 92 % owned subsidiary); transportation and storage of natural gas and natural gas liquids, olefins and other hydrocarbons (Boardwalk Pipeline Partners, LP (“Boardwalk Pipelines”), a wholly owned subsidiary) and the operation of a chain of hotels (Loews Hotels Holding Corporation (“Loews Hotels & Co”), a wholly owned subsidiary). Unless the context otherwise requires, as used herein, the term “Company” means Loews Corporation including its subsidiaries, the term “Parent Company” means Loews Corporation excluding its subsidiaries and the term “Net income (loss) attributable to Loews Corporation” means Net income (loss) attributable to Loews Corporation shareholders. </context> | us-gaap:MinorityInterestOwnershipPercentageByParent |
Insurance receivables include balances due currently or in the future, including amounts due from insureds related to paid losses under high deductible policies, and are presented at unpaid balances, net of an allowance for doubtful accounts. As of December 31, 2024 and 2023, an allowance for doubtful accounts of $ 26 million and $ 28 million for insurance receivables has been established using a loss rate methodology to determine expected credit losses for premium receivables. This methodology uses CNA’s historical annual credit losses relative to gross premium written to develop a range of credit loss rates for each dollar of gross written premium underwritten. Additionally, an expected credit loss for amounts due from insureds under high deductible and retrospectively rated policies is calculated on a pool basis, informed by historical default rate data obtained from major rating agencies. Changes in the allowance are presented as a component of Other operating expenses on the Consolidated Statements of Operations. Amounts are considered past due based on policy payment terms. Insurance receivables and any related allowance are written off after collection efforts are exhausted or a negotiated settlement is reached. | text | 26 | monetaryItemType | text: <entity> 26 </entity> <entity type> monetaryItemType </entity type> <context> Insurance receivables include balances due currently or in the future, including amounts due from insureds related to paid losses under high deductible policies, and are presented at unpaid balances, net of an allowance for doubtful accounts. As of December 31, 2024 and 2023, an allowance for doubtful accounts of $ 26 million and $ 28 million for insurance receivables has been established using a loss rate methodology to determine expected credit losses for premium receivables. This methodology uses CNA’s historical annual credit losses relative to gross premium written to develop a range of credit loss rates for each dollar of gross written premium underwritten. Additionally, an expected credit loss for amounts due from insureds under high deductible and retrospectively rated policies is calculated on a pool basis, informed by historical default rate data obtained from major rating agencies. Changes in the allowance are presented as a component of Other operating expenses on the Consolidated Statements of Operations. Amounts are considered past due based on policy payment terms. Insurance receivables and any related allowance are written off after collection efforts are exhausted or a negotiated settlement is reached. </context> | us-gaap:PremiumsReceivableAllowanceForDoubtfulAccounts |
Insurance receivables include balances due currently or in the future, including amounts due from insureds related to paid losses under high deductible policies, and are presented at unpaid balances, net of an allowance for doubtful accounts. As of December 31, 2024 and 2023, an allowance for doubtful accounts of $ 26 million and $ 28 million for insurance receivables has been established using a loss rate methodology to determine expected credit losses for premium receivables. This methodology uses CNA’s historical annual credit losses relative to gross premium written to develop a range of credit loss rates for each dollar of gross written premium underwritten. Additionally, an expected credit loss for amounts due from insureds under high deductible and retrospectively rated policies is calculated on a pool basis, informed by historical default rate data obtained from major rating agencies. Changes in the allowance are presented as a component of Other operating expenses on the Consolidated Statements of Operations. Amounts are considered past due based on policy payment terms. Insurance receivables and any related allowance are written off after collection efforts are exhausted or a negotiated settlement is reached. | text | 28 | monetaryItemType | text: <entity> 28 </entity> <entity type> monetaryItemType </entity type> <context> Insurance receivables include balances due currently or in the future, including amounts due from insureds related to paid losses under high deductible policies, and are presented at unpaid balances, net of an allowance for doubtful accounts. As of December 31, 2024 and 2023, an allowance for doubtful accounts of $ 26 million and $ 28 million for insurance receivables has been established using a loss rate methodology to determine expected credit losses for premium receivables. This methodology uses CNA’s historical annual credit losses relative to gross premium written to develop a range of credit loss rates for each dollar of gross written premium underwritten. Additionally, an expected credit loss for amounts due from insureds under high deductible and retrospectively rated policies is calculated on a pool basis, informed by historical default rate data obtained from major rating agencies. Changes in the allowance are presented as a component of Other operating expenses on the Consolidated Statements of Operations. Amounts are considered past due based on policy payment terms. Insurance receivables and any related allowance are written off after collection efforts are exhausted or a negotiated settlement is reached. </context> | us-gaap:PremiumsReceivableAllowanceForDoubtfulAccounts |
6.4 % as of December 31, 2024 and 2023. This interest rate is based on the expected yield of the assets that support the reserves and reinvestment assumptions. As of December 31, 2024 and 2023, the discounted reserves for unfunded structured settlements were $ 444 million and $ 465 million, net of discount of $ 535 million and $ 559 million. For the years ended December 31, 2024, 2023 and 2022, the amount of interest recognized on the discounted reserves of unfunded structured settlements was $ 33 million, $ 34 million and $ 36 million. This interest accretion is presented as a component of Insurance claims and policyholders’ benefits on the Consolidated Statements of Operations but is excluded from the disclosure of prior year loss reserve development. | text | 6.4 | percentItemType | text: <entity> 6.4 </entity> <entity type> percentItemType </entity type> <context> 6.4 % as of December 31, 2024 and 2023. This interest rate is based on the expected yield of the assets that support the reserves and reinvestment assumptions. As of December 31, 2024 and 2023, the discounted reserves for unfunded structured settlements were $ 444 million and $ 465 million, net of discount of $ 535 million and $ 559 million. For the years ended December 31, 2024, 2023 and 2022, the amount of interest recognized on the discounted reserves of unfunded structured settlements was $ 33 million, $ 34 million and $ 36 million. This interest accretion is presented as a component of Insurance claims and policyholders’ benefits on the Consolidated Statements of Operations but is excluded from the disclosure of prior year loss reserve development. </context> | us-gaap:LiabilityForFuturePolicyBenefitsInterestRate |
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