Leases (Tables)

3 Months Ended

Mar. 31, 2022

Leases [Abstract]

Schedule of Future Lease Payments

The following table presents the future lease payments due under the Company’s ground leases as of March 31, 2022 ($ in thousands):

	Operating Lease
2022 (remaining)	$	514
2023		686
2024		686
2025		712
2026		713
Thereafter		26,506
Total undiscounted future lease payments		29,817
Difference between undiscounted cash flows and discounted cash flows		17,324
Total lease liability	$	12,493

Summary of Fixed and Variable Components of Operating Leases

The following table summarizes the fixed and variable components of the Company’s operating leases ($ in thousands):

	Three Months Ended March 31,
	2022		2021
Fixed lease payments	$	285,266	$	88,232
Variable lease payments		32,104		9,875
Rental revenue	$	317,370	$	98,107

Schedule of Undiscounted Future Minimum Rents Income Receivables

The following table presents the undiscounted future minimum rents the Company expects to receive for its industrial, office and other properties ($ in thousands) as of March 31, 2022. Leases at the Company’s multifamily, single-family rental and self-storage properties are short term, generally 12 months or less, and are therefore not included.

Year	Future Minimum Rents
2022 (remaining)	$	181,430
2023		228,614
2024		202,188
2025		175,340
2026		153,806
Thereafter		528,993
Total	$	1,470,371