Leases (Tables)

9 Months Ended

Sep. 30, 2019

Leases [Abstract]

Schedule of operating lease costs

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

	Three Months Ended September 30, 2019		Nine Months Ended  September 30, 2019
Operating lease cost	$	655	$	2,050
Finance lease cost:
Amortization of right-of-use assets (a)	146		223
Interest on lease liabilities	228		340

(a) Includes amortization of below-market ground lease intangible assets

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

	Three Months Ended September 30, 2019		Nine Months Ended  September 30, 2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	477	$	1,501
Operating cash flows from finance leases	206		317
Financing cash flows from finance leases	—		—

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

	September 30, 2019
Weighted Average Remaining Lease Term (years)
Operating leases	45.7
Finance leases	41.5
Weighted Average Discount Rate
Operating leases	5.4	%
Finance leases	5.2	%

Schedule of maturities of lease liabilities

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

Year Ending December 31,	Operating Leases			Finance Leases
2019 (excluding nine months ended September 30, 2019)	$	478		$	216
2020	2,080			864
2021	2,137			864
2022	2,361			868
2023	2,400			873
Thereafter	105,961			43,903
Total lease liabilities	115,417			47,588
Less imputed interest	(74,030		)	(29,697		)
Present value of lease liabilities	$	41,387		$	17,891

Schedule of rental revenue

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

	Three Months Ended September 30, 2019			Nine Months Ended  September 30, 2019
Base rent and tenant charges	$	41,236		$	106,227
Accrued straight-line rental adjustment	745			2,893
Lease incentive amortization	(187		)	(555		)
Above/below market lease amortization	426			942
Total rental revenue	$	42,220		$	109,507

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 nine months ended September 30, 2019)	$	24,083
2020	94,370
2021	87,474
2022	80,172
2023	69,962
Thereafter	317,305
Total	$	673,366