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Tenant Leases
 3 Months Ended
Mar. 31, 2022
Leases [Abstract]  
Tenant Leases Tenant Leases
Our real estate properties are leased to tenants under operating lease agreements that expire on various dates. Our tenants have the option to extend or terminate certain leases at their discretion and also have termination options that may result in additional fees due to the Company.
We recognize rental revenue on a straight-line basis over the life of the lease, including any rent steps or abatement provisions. Our tenant leases do not have material residual value guarantees or material restrictive covenants.
The following table details the components of operating lease income:
Three Months Ended March 31,
$ in thousands20222021
Fixed lease payments$8,807 $1,854 
Variable lease payments856 $261 
Rental revenue$9,663 $2,115 
Aggregate minimum annual rentals for our consolidated real estate investments through the non-cancelable lease term are as follows:
$ in thousands
YearFuture Minimum Rents
2022 (remainder)$8,708 
20238,396 
20247,941 
20257,369 
20267,523 
20277,296 
Thereafter28,767 
Total$76,000 
Certain leases provide for additional rental amounts based upon the recovery of actual operating expenses in excess of specified base amounts or contractual increases as defined in the lease agreement. These contractual contingent rentals are not included in the table above.
We did not make any lease concessions in the three months ended March 31, 2022 as a result of the COVID-19 pandemic.