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Leases (Tables)
12 Months Ended
Dec. 31, 2020
Leases [Abstract]  
Schedule of Operating Lease ROU Aassets and Operating Lease Liabilities

Operating lease ROU assets and operating lease liabilities are included in the Company’s consolidated balance sheet as follows (in thousands):

 

 

 

 

December 31,

 

 

 

Classification

 

2020

 

 

2019

 

Operating Lease ROU Assets

 

Other Assets, Net

 

$

20,604

 

 

$

21,792

 

Operating Lease Liabilities

 

Accounts Payable and Other Liabilities

 

 

39,794

 

 

 

40,725

 

Schedule of Operating Lease Expenses

Operating lease expenses, including straight-line expense, included in Operating and Maintenance Expense for the Company’s ground leases and General and Administrative for its office leases are as follows (in thousands):

 

 

 

 

 

December 31,

 

Classification

 

 

 

2020

 

 

2019

 

Operating and Maintenance

 

 

 

$

2,716

 

 

$

3,495

 

General and Administrative(A)

 

 

 

 

2,627

 

 

 

2,837

 

   Total lease costs

 

 

 

$

5,343

 

 

$

6,332

 

(A)

Includes short-term leases and variable lease costs, which are immaterial.

Schedule of Supplemental Balance Sheet Information Related to Operating Leases

Supplemental balance sheet information related to operating leases was as follows:

 

 

December 31,

 

 

 

2020

 

 

2019

 

Weighted-Average Remaining Lease Term

 

35.2 years

 

 

35.3 years

 

Weighted-Average Discount Rate

 

 

7.4

%

 

 

7.3

%

Cash paid for amounts included in the measurement

   operating cash flows from lease liabilities (in thousands)

 

$

4,414

 

 

$

3,548

 

Schedule of Maturities of Lease Liabilities

As determined under Topic 842, maturities of lease liabilities were as follows for the years ended December 31, (in thousands):

Year

 

December 31,

 

2021

 

$

4,393

 

2022

 

 

4,051

 

2023

 

 

3,545

 

2024

 

 

3,605

 

2025

 

 

3,661

 

Thereafter

 

 

114,004

 

   Total lease payments

 

 

133,259

 

Less imputed interest

 

 

(93,465

)

   Total

 

$

39,794

 

Schedule of Future Minimum Rental Income from Rental Properties under Terms of Non-Cancelable Tenant Leases

The scheduled future minimum rental income from rental properties under the terms of all non-cancelable tenant leases (including those on the cash basis), assuming no new or renegotiated leases or option extensions, as determined under Topic 842 for such premises for the years ending December 31, were as follows (in thousands):

Year

 

December 31,

 

2021

 

$

338,177

 

2022

 

 

300,944

 

2023

 

 

250,738

 

2024

 

 

203,986

 

2025

 

 

154,222

 

Thereafter

 

 

456,926

 

Total

 

$

1,704,993