Leases (Tables)

6 Months Ended

Jun. 30, 2019

Leases [Abstract]

Schedule of operating lease costs

The components of lease cost for the three and six months ended June 30, 2019 were as follows (in thousands):

	Three Months Ended June 30, 2019		Six Months Ended   June 30, 2019
	(Unaudited)
Operating lease cost	$	707	1,395
Finance lease cost:
Amortization of right-of-use assets	$	77	77
Interest on lease liabilities	$	112	112

The table below presents supplemental cash flow information related to leases during the three and six months ended June 30, 2019 (in thousands):

	Three Months Ended June 30, 2019		Six Months Ended   June 30, 2019
	(Unaudited)
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	524	$	1,024
Operating cash flows from finance leases	111		111
Financing cash flows from finance leases	—		—

Additional information related to leases as of June 30, 2019 were as follows (in thousands):

	June 30, 2019
	(Unaudited)
Weighted Average Remaining Lease Term (years)
Operating leases	45.9
Finance leases	41.7
Weighted Average Discount Rate
Operating leases	5.4	%
Finance leases	5.2	%

Schedule of maturities of lease liabilities

Maturities of lease liabilities as of June 30, 2019 were as follows (in thousands):

Year Ending December 31,	Operating Leases			Finance Leases
2019 (excluding six months ended June 30, 2019)	$	954		$	422
2020	2,080			864
2021	2,137			864
2022	2,361			868
2023	2,400			873
Thereafter	105,961			43,902
Total lease liabilities	115,893			47,793
Less imputed interest	(74,593		)	(29,931		)
Present value of lease liabilities	$	41,300		$	17,862

Schedule of rental revenue

Rental revenue for the three and six months ended June 30, 2019 comprised the following (in thousands):

	Three Months Ended June 30, 2019			Six Months Ended   June 30, 2019
	(Unaudited)
Base rent and tenant charges	$	35,066		$	64,990
Accrued straight-line rental adjustment	1,187			2,148
Lease incentive amortization	(184		)	(367		)
Above/below market lease amortization	309			516
Total rental revenue	$	36,378		$	67,287

Schedule of minimum rental payments

The Company's commercial tenant leases provide for minimum rental payments during each of the next five years and thereafter as follows (in thousands):

Year Ending December 31,	Operating Leases
2019 (excluding six months ended June 30, 2019)	$	48,504
2020	91,957
2021	84,332
2022	77,113
2023	67,302
Thereafter	314,422
Total	$	683,630