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Leases (Tables)
3 Months Ended
Mar. 31, 2019
Leases [Abstract]  
Schedule of Lease Cost

 

 

Three Months Ended March 31,

 

 

2019

 

 

2018

Lease Cost

 

 

 

 

 

(Not applicable)

Finance lease cost:

 

 

 

 

 

 

   Amortization of right-of-use assets

 

$

496

 

 

 

   Interest on lease liabilities

 

 

843

 

 

 

   Subtotal

 

 

1,339

 

 

 

Operating lease cost

 

 

536

 

 

 

Variable lease cost

 

 

32

 

 

 

Total lease cost

 

$

1,907

 

 

 

 

 

 

 

 

 

 

Other Information

 

 

 

 

 

 

Weighted-average remaining lease term - finance leases (years)

 

 

47.4

 

 

 

Weighted-average remaining lease term - operating leases (years)

 

 

8.4

 

 

 

Weighted-average discount rate - finance leases

 

 

4.4

%

 

 

Weighted-average discount rate - operating leases

 

 

5.0

%

 

 

 

 

 

 

 

 

 

 

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 March 31, 2019, are summarized as follows (in thousands):

 

Year Ending December 31,

 

Minimum Rental

Revenues

 

 

Minimum Rental

Payments

 

2019 (Remainder)

 

$

139,533

 

 

$

3,590

 

2020

 

 

186,498

 

 

 

4,571

 

2021

 

 

167,505

 

 

 

4,354

 

2022

 

 

147,103

 

 

 

4,404

 

2023

 

 

128,675

 

 

 

4,425

 

Thereafter

 

 

562,214

 

 

 

180,618

 

Total

 

$

1,331,528

 

 

$

201,962