LEASES (Tables)

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Lessee, Operating Lease, Liability, Maturity [Table Text Block]

Lease payments on noncancellable leases at December 31, 2019 are as follows (in thousands):

Year	Minimum Rent
2020	$	1,217
2021	1,232
2022	1,248
2023	1,263
2024	1,305
Thereafter	110,452
Total lease payments	$	116,717
Less: Imputed interest	94,163
Present value of operating lease liabilities	$	22,554

Operating Lease Liabilities Maturity Schedule

Lease payments on noncancellable leases at December 31, 2019 are as follows (in thousands):

Year	Minimum Rent
2020	$	389,956
2021	369,375
2022	338,435
2023	311,729
2024	280,631
Thereafter	1,234,006

Operating Leases Future Minimum Payments Receivable

Lease payments on noncancellable leases at December 31, 2018, which were determined under ASC 840 and are therefore not adjusted for increases based on CPI, are as follows (in thousands):

Year	Minimum Rent
2019	$	1,222
2020	1,222
2021	1,222
2022	1,222
2023	1,222
Thereafter	55,689
Total	$	61,799

Lease payments on noncancellable leases at December 31, 2018, which were determined under under ASC 840 and are therefore not adjusted for increases based on CPI, are as follows (in thousands):

Year	Minimum Rent
2019	392,058
2020	372,619
2021	349,160
2022	304,445
2023	277,388
Thereafter	1,265,810

Lease Payments and Costs

The table below summarizes the Company’s operating lease cost (in thousands) recognized through “Property operating expenses” on the consolidated statements of operations:

	Twelve Months Ended December 31,
Lease Cost	2019
Fixed lease cost	$	2,100
Variable lease cost	54
Total	$	2,154
Weighted-average remaining lease term (years)	52.7
Weighted-average discount rate	6.3		%