LEASES (Tables)

9 Months Ended

Sep. 30, 2020

Leases [Abstract]

Schedule of future minimum rental income for operating leases - ASC 842

As of September 30, 2020, the future minimum rental income from the Company’s real estate assets under non-cancelable operating leases, assuming no exercise of renewal options for the succeeding five fiscal years and thereafter, was as follows (in thousands):

	Future Minimum Rental Income
Remainder of 2020	$	59,603
2021	209,891
2022	199,840
2023	182,714
2024	164,376
Thereafter	1,098,230
Total	$	1,914,654

Schedule of components of lease income

Rental and other property income during the three and nine months ended September 30, 2020 and 2019 consisted of the following (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Fixed rental and other property income (1)	$	56,300	$	86,565	$	164,396	$	263,867
Variable rental and other property income (2)	9,711		12,987		30,154		40,897
Total rental and other property income	$	66,011	$	99,552	$	194,550	$	304,764

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(1)Consists primarily of fixed contractual payments from operating leases with tenants recognized on a straight-line basis over the lease term, including amortization of acquired above- and below-market leases, and is net of uncollectable lease-related receivables.

(2)Consists primarily of tenant reimbursements for recoverable real estate taxes and property operating expenses, and percentage rent.