Operating Leases

12 Months Ended

Dec. 31, 2015

Operating Leases

Operating Leases

4.Operating Leases

The Company’s commercial tenant leases generally range from five to 20 years, but certain leases with anchor tenants may be longer. The Company’s commercial tenant leases provide for minimum rental payments during each of the next five years and thereafter as follows (in thousands):

2016	$	60,658
2017		59,890
2018		54,683
2019		46,128
2020		39,895
Thereafter		249,929
Total	$	511,183

Lease terms on multifamily apartment units generally range from seven to 15 months, with a majority having 12-month lease terms. Apartment leases are not included in the preceding table as the remaining terms as of December 31, 2015 are generally less than one year.