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Lessee Accounting (Tables)
6 Months Ended
Jun. 30, 2022
Lessee Disclosure [Abstract]  
Summary of Undiscounted Future Cash Flows and Reconciliation to Right of Use Liability

The following table summarizes the undiscounted future cash flows for subsequent years ending December 31 attributable to the ground lease liability as of June 30, 2022 and provides a reconciliation to the Right of use liability included in the accompanying Consolidated Balance Sheets as June 30, 2022.

 

 

As of June 30,

 

 

2022

 

2022 (6 months remaining)

$

116,298

 

2023

 

232,701

 

2024

 

244,077

 

2025

 

245,111

 

2026

 

245,111

 

Thereafter

 

22,065,755

 

Total undiscounted liability

$

23,149,053

 

Present value discount

 

(16,821,202

)

Right of use liability

$

6,327,851

 

Discount rate

 

4.58

%

Term

62 years