Leases (Tables)

3 Months Ended

Mar. 31, 2020

Leases [Abstract]

Future Contractual Annual Rentals Receivable

As of March 31, 2020, future contractual annual rentals receivable from our tenants, which have terms in excess of one year are as follows (in thousands):

	Operating Leases		Direct Financing Leases
2020	$	84,040	$	9,897
2021		112,825		13,339
2022		112,555		13,420
2023		112,728		13,467
2024		110,822		13,611
Thereafter		693,684		59,419
Total	$	1,226,654	$	123,153

Schedule of Lease-related Assets and Liabilities

The following presents the lease-related assets and liabilities (in thousands):

	March 31, 2020
Assets
Right-of-use assets - operating	$	19,341
Right-of-use assets - finance		931
Total lease assets	$	20,272
Liabilities
Lease liability - operating	$	19,982
Lease liability - finance		4,039
Total lease liabilities	$	24,021

Summary of Weighted-average Remaining Lease Terms and Discount Rates

The following presents the weighted average lease terms and discount rates of our leases:

Weighted-average remaining lease term (years)
Operating leases	8.9
Finance leases	11.2
Weighted-average discount rate
Operating leases (1)		5.31	%
Finance leases		17.21	%

(a) Upon adoption of the new lease standard, discount rates used for existing leases were established at January 1, 2019.

Schedule of Information Related to Lease Costs for Finance and Operating Leases

The following presents our total lease costs (in thousands):

	Three Months Ended March 31, 2020
Operating lease cost	$	1,011
Finance lease cost
Amortization of leased assets		153
Interest on lease liabilities		189
Short-term lease cost		37
Total lease cost	$	1,390

Schedule of Supplemental Cash Flow Information Related to Leases

The following presents supplemental cash flow information related to our leases (in thousands):

	Three Months Ended March 31, 2020
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases	$	896
Operating cash flows for finance leases		189
Financing cash flows for finance leases	$	153

Schedule of Reconciles the Undiscounted Cash Flows for Direct Financing Lease Liabilities and Operating Lease Liabilities

As of March 31, 2020, scheduled lease liabilities mature as follows (in thousands):

	Operating Leases			Direct Financing Leases
2020	$	2,949		$	1,364
2021		3,544			1,209
2022		2,802			1,042
2023		2,679			831
2024		2,827			732
Thereafter		11,266			1,878
Total lease payments		26,067			7,056
Less: amount representing interest		(6,085	)		(3,017	)
Present value of lease payments	$	19,982		$	4,039