Leases (Tables)

3 Months Ended

Mar. 31, 2020

Lessor, Operating Lease, Payments to be Received, Maturity

Approximate future minimum revenues from rentals under non-cancelable operating leases in effect at March 31, 2020, assuming no new or renegotiated leases or option extensions on lease agreements and no early lease terminations were as follows:


Year Ending December 31,
	(In thousands)
2020 (remaining)	$	117,448
2021	143,081
2022	121,427
2023	100,704
2024	82,238
Thereafter	269,735
Total	$	834,633

Lease, Cost

The components of lease expense were as follows:


		Three Months Ended March 31,
Statements of Operations	Classification	2020		2019
		(In thousands)
Operating ground lease cost	Non-recoverable operating expense	$	291	$	291
Operating administrative lease cost	General and administrative expense	148		233
Finance lease cost	Interest Expense	12		13

Assets and Liabilities, Lessee

Supplemental balance sheet information related to leases is as follows:


Balance Sheet	Classification	March 31, 2020			December 31, 2019
		(In thousands)
ASSETS
Operating lease assets	Operating lease right-of-use assets	$	19,064		$	19,222
Finance lease asset	Land	13,249			13,249
Total leased assets		$	32,313		$	32,471

LIABILITIES
Operating lease liabilities	Operating lease liabilities	$	18,092		$	18,181
Finance lease liability	Finance lease liability	926			926
Total lease liabilities		$	19,018		$	19,107

Weighted Average Remaining Lease Terms
Operating leases		70 years			70 years
Finance lease		13 years			13 years
Weighted Average Incremental Borrowing Rate
Operating leases		6.07		%	6.06		%
Finance lease		5.23		%	5.23		%

Lease, Cost

Supplemental cash flow information related to leases is as follows:


	Three Months Ended March 31,
	2020		2019
	(In thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	370	$	434
Operating cash flows from finance lease	—		—
Financing cash flows from finance lease	—		—

Lessee, Operating Lease, Liability, Maturity

Maturities of lease liabilities as of March 31, 2020 were as follows:


Maturity of Lease Liabilities	Operating Leases		Finance Lease
	(In thousands)
2020 (remaining)	$	1,092	$	100
2021	1,469		100
2022	1,482		100
2023	1,495		100
2024	1,118		100
Thereafter	95,478		800
Total lease payments	$	102,134	$	1,300
Less imputed interest	(84,042)		(374)
Total	$	18,092	$	926

Finance Lease, Liability, Maturity

Maturities of lease liabilities as of March 31, 2020 were as follows:


Maturity of Lease Liabilities	Operating Leases		Finance Lease
	(In thousands)
2020 (remaining)	$	1,092	$	100
2021	1,469		100
2022	1,482		100
2023	1,495		100
2024	1,118		100
Thereafter	95,478		800
Total lease payments	$	102,134	$	1,300
Less imputed interest	(84,042)		(374)
Total	$	18,092	$	926