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Tenant Leases
 9 Months Ended
Sep. 30, 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 September 30,Nine Months Ended September 30,
$ in thousands2022202120222021
Fixed lease payments$13,425 $2,448 $33,904 $6,451 
Variable lease payments2,091 300 4,539 864 
Rental revenue$15,516 $2,748 $38,443 $7,315 
Aggregate minimum annual rentals for our consolidated real estate investments through the non-cancelable lease term are as follows:
$ in thousandsFuture Minimum
YearRents
2022 (remainder)$3,119 
202311,897 
202411,608 
202511,054 
202611,229 
202711,032 
Thereafter60,619 
Total$120,557 
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.