LEASES (Tables)

3 Months Ended

Mar. 31, 2021

Leases [Abstract]

Schedule of future minimum rental income for operating leases - ASC 842

As of March 31, 2021, the future minimum rental income from the Company’s real estate assets under non-cancelable operating leases, assuming no exercise of renewal options for the succeeding five fiscal years and thereafter, was as follows (in thousands):

	Future Minimum Rental Income
Remainder of 2021	$	191,931
2022	248,096
2023	231,349
2024	212,216
2025	193,595
Thereafter	1,245,868
Total	$	2,323,055

Schedule of components of lease income

Rental and other property income during the three months ended March 31, 2021 and 2020 consisted of the following (in thousands):

	Three Months Ended March 31,
	2021		2020
Fixed rental and other property income (1)	$	66,541	$	56,673
Variable rental and other property income (2)	10,389		11,763
Total rental and other property income	$	76,930	$	68,436

__________________________________

(1)Consists primarily of fixed contractual payments from operating leases with tenants recognized on a straight-line basis over the lease term, including amortization of acquired above- and below-market leases, and is net of uncollectible lease-related receivables.

(2)Consists primarily of tenant reimbursements for recoverable real estate taxes and property operating expenses, and percentage rent.