Leases (Tables)

9 Months Ended

Sep. 30, 2022

Leases [Abstract]

Activity for Reserves Related to Billed Rents and Straight-line Rents

The activity for the reserves related to billed rents and straight-line rents (including those under specific operating leases where the collection of rents is assessed to be not probable) is as follows:

	Nine Months Ended September 30, 2022
	Balance at Beginning of Period		Provision (Recovery), Net			Adjustments to Valuation Accounts		Write-Offs			Balance at End of Period
Allowance for credit loss - billed rents	$	23,586	$	(779	)	$	—	$	(4,383	)	$	18,424
Straight-line rent reserves		14,885		(79	)		—		(1,347	)		13,459
Total - rents receivable	$	38,471	$	(858	)	$	—	$	(5,730	)	$	31,883

Schedule of Lease Cost

Additional disclosures regarding the Company’s leases as lessee are as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022			2021
Lease Cost
Finance lease cost:
Amortization of right-of-use assets	$	226		226	$	677		$	677
Interest on lease liabilities		103		97		305			289
Subtotal		329		323		982			966
Operating lease cost		1,334		1,334		4,004			5,850
Variable lease cost		21		23		63			57
Total lease cost	$	1,684	$	1,680	$	5,049		$	6,873
Other Information
Weighted-average remaining lease term - finance leases (years)						32.1			32.8
Weighted-average remaining lease term - operating leases (years)						13.6			14.2
Weighted-average discount rate - finance leases						6.3	%		6.3	%
Weighted-average discount rate - operating leases						5.1	%		5.1	%

Schedule of Future Minimum Rental Revenues and Payments for Operating and Capital Leases

The scheduled future minimum (i) rental revenues from rental properties under the terms of non-cancelable tenant leases greater than one year (assuming no new or renegotiated leases or option extensions for such premises) and (ii) rental payments under the terms of all non-cancelable operating and finance leases in which the Company is the lessee, principally for office space, land and equipment, as of September 30, 2022, are summarized as follows (in thousands):

			Minimum Rental Payments
Year Ending December 31,	Minimum Rental Revenues (a)		Operating Leases (b)			Finance Leases (b)
2022 (Remainder)	$	53,052	$	1,343		$	—
2023		225,554		5,389			—
2024		210,504		5,414			—
2025		179,257		5,329			—
2026		152,019		5,173			—
Thereafter		638,628		24,437			12,549
		1,459,014		47,085			12,549
Interest		—		(10,928	)		(5,632	)
Total	$	1,459,014	$	36,157		$	6,917

a)Amount represents contractual lease maturities at September 30, 2022 including any extension options that management determined were reasonably certain of exercise.

b)Minimum rental payments exclude options or renewals not reasonably certain of exercise.