BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Sep. 30, 2023

Schedule of Recent Accounting Pronouncements

The following table provides a brief description of Financial Accounting Standards Board (“FASB”) 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.

Schedule of Future 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 September 30, 2023, was as follows:


	(in thousands)
2023 (remainder)	$	539
2024	2,130
2025	2,076
2026	1,908
2027	1,444
Thereafter	6,170
Total scheduled lease income - commercial operating leases	$	14,267

Schedule of Disaggregation of Revenue

The following table presents the disaggregation of revenue streams for the three and nine months ended September 30, 2023 and 2022:


		(in thousands)
		Three Months Ended September 30,				Nine Months Ended September 30,
Revenue Stream	Applicable Standard	2023		2022		2023		2022
Fixed lease income - operating leases	Leases	$	60,324	$	60,851	$	184,256	$	176,911
Variable lease income - operating leases	Leases	3,006		2,905		9,523		7,728
Other property revenue	Revenue from contracts with customers	1,238		1,682		3,462		4,229
Total revenue		$	64,568	$	65,438	$	197,241	$	188,868