Future Minimum Lease Payments

6 Months Ended

Jun. 30, 2014

Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]

We currently lease portions of the land underlying two of our office properties. We expensed ground lease payments of $606 thousand and $543 thousand for the three months ended June 30, 2014 and 2013, respectively and $1.1 million for the six months ended June 30, 2014 and 2013. We have a purchase option in one of these two leases, which we may exercise at any time prior to August 29, 2014 for a purchase price of $27.5 million. Because we have the ability and the intent to exercise this option, we have excluded payments under this lease from the future minimum rent payments in the table below. The following is a schedule (in thousands) of our minimum ground lease payments as of June 30, 2014:



Twelve months ending June 30:
2015	$	733
2016	733
2017	733
2018	733
2019	733
Thereafter	49,476
Total future minimum lease payments	$	53,141

- Definition

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

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