BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Mar. 31, 2023

Future Scheduled Lease Income for Operating Leases

The aggregate amount of future scheduled lease income on commercial operating leases, excluding any variable lease income and non-lease components, as of March 31, 2023, was as follows:


	(in thousands)
2023 (remainder)	$	2,281
2024	2,999
2025	2,953
2026	2,350
2027	1,265
Thereafter	5,760
Total scheduled lease income - commercial operating leases	$	17,608

Schedule of Disaggregation of Revenue

The following table presents the disaggregation of revenue streams for the three months ended March 31, 2023 and 2022:


		(in thousands)
		Three Months Ended March 31,
Revenue Stream	Applicable Standard	2023		2022
Fixed lease income - operating leases	Leases	$	63,265	$	56,673
Variable lease income - operating leases	Leases	3,500		2,523
Other property revenue	Revenue from contracts with customers	1,132		1,118
Total revenue		$	67,897	$	60,314

Schedule of Recent Accounting Prouncements

The following table provides a brief description of recent accounting standards updates (“ASU”).


Standard	Description	Date of Adoption	Effect on the Financial Statements or Other Significant Matters
ASU 2022-06, Reference Rate Reform (Topic 848) - Deferral of the Sunset Date of Topic 848	This ASU extends the sunset date of Reference Rate Reform (Topic 848): Facilitation of Reference Rate Reform to December 31, 2024.	This ASU is effective immediately for all companies.	The ASU will not have a material impact on the Condensed Consolidated Financial Statements.