The
following table summarizes the components of lease revenues (amounts in thousands):
Schedule of Components of Lease Revenues
| | |
2026 | | |
2025 | |
| | |
Three
Months Ended March 31, | |
| | |
2026 | | |
2025 | |
| | |
(unaudited) | | |
(unaudited) | |
| Fixed lease revenues | |
$ | 4,109 | | |
$ | 1,522 | |
| Variable
lease revenues (1) | |
| 73 | | |
| 181 | |
| Lease
revenues (2) (3) | |
$ | 4,182 | | |
$ | 1,703 | |
| (1) | Includes
reimbursements for property taxes, insurance, and common area maintenance services. |
| (2) | Excludes
lease intangible amortization of less than $0.1 million and less than $0.1 million for the
three months ended March 31, 2026 and 2025, respectively. |
| (3) | Excludes
straight-line rent of less than $0.1 million and less than $0.1 million for the three months
ended March 31, 2026 and 2025, respectively. |
|