Leases (Tables)

6 Months Ended

Jun. 30, 2020

Lessor, Operating Lease, Payments to be Received, Maturity

Approximate future minimum revenues from rentals under non-cancelable operating leases in effect at June 30, 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)	$	77,800
2021	145,287
2022	125,001
2023	104,559
2024	85,551
Thereafter	273,959
Total	$	812,157

Lease, Cost

The components of lease expense were as follows:


		Three Months Ended June 30,						Six Months Ended June 30,
Statements of Operations	Classification	2020		2019		2020		2019
		(In thousands)
Operating ground lease cost	Non-recoverable operating expense	$	290	$	290	$	581	$	581
Operating administrative lease cost	General and administrative expense	143		251		291		484
Finance lease cost	Interest Expense	12		13		24		26

Supplemental cash flow information related to leases is as follows:


	Six Months Ended June 30,
	2020		2019
	(In thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	735	$	917
Operating cash flows from finance lease	—		—
Financing cash flows from finance lease	—		—

Assets and Liabilities, Lessee

Supplemental balance sheet information related to leases is as follows:


Balance Sheet	Classification	June 30, 2020			December 31, 2019
		(In thousands)
ASSETS
Operating lease assets	Operating lease right-of-use assets	$	18,905		$	19,222
Finance lease asset	Land	13,249			13,249
Total leased assets		$	32,154		$	32,471

LIABILITIES
Operating lease liabilities	Operating lease liabilities	$	18,002		$	18,181
Finance lease liability	Finance lease liability	926			926
Total lease liabilities		$	18,928		$	19,107

Weighted Average Remaining Lease Terms
Operating leases		71 years			70 years
Finance lease		13 years			13 years
Weighted Average Incremental Borrowing Rate
Operating leases		6.08		%	6.06		%
Finance lease		5.23		%	5.23		%

Lessee, Operating Lease, Liability, Maturity

Maturities of lease liabilities as of June 30, 2020 were as follows:


Maturity of Lease Liabilities	Operating Leases		Finance Lease
	(In thousands)
2020 (remaining)	$	729	$	100
2021	1,469		100
2022	1,482		100
2023	1,495		100
2024	1,118		100
Thereafter	95,478		800
Total lease payments	$	101,771	$	1,300
Less imputed interest	(83,769)		(374)
Total	$	18,002	$	926

Finance Lease, Liability, Maturity

Maturities of lease liabilities as of June 30, 2020 were as follows:


Maturity of Lease Liabilities	Operating Leases		Finance Lease
	(In thousands)
2020 (remaining)	$	729	$	100
2021	1,469		100
2022	1,482		100
2023	1,495		100
2024	1,118		100
Thereafter	95,478		800
Total lease payments	$	101,771	$	1,300
Less imputed interest	(83,769)		(374)
Total	$	18,002	$	926