COVID-19 (Tables)

6 Months Ended

Jun. 30, 2020

Unusual or Infrequent Items, or Both [Abstract]

Collections and Agreements with Tenants

The following information is for the three months ended June 30, 2020, is presented based on collections and agreements with tenants reached as of June 30, 2020, and is preliminary and unaudited:  

Tenant Type	Rental and Other Property Income Billed to Tenants		% Collected		% Collected by Applying the Security Deposit		% Deferred		% Recorded as Bad Debt		% Abated
Office and Retail (1)	$	12,940,790	90.2	%	1.0	%	0.3	%	0.1	%	—	%
Parking (2)	$	978,117	21.9	%	—	%	—	%	49.6	%	12.7	%

(1)As of August 5, 2020, the Company collected an additional 5.7% of the $12,940,790 rental and other property income billed to its office and retail tenants for the three months ended June 30, 2020. Additionally, in the month of July 2020, the Company deferred additional rental and other property income billed to its office and retail tenants for the three months ended June 30, 2020 in a de minimis amount.

(2)Two parking tenants whose leases were expiring on April 30, 2020 renewed their respective leases on a month-to-month basis, at reduced rates, retroactive to April 1, 2020, until August 31, 2020, at which time the parties agree to put in place a long-term lease. The April 2020 reduction in rent is presented as an abatement in the table above.

The following information is for the month of July 2020, is presented based on collections and agreements with tenants reached as of July 31, 2020, and is preliminary and unaudited:

Tenant Type	Rental and Other Property Income Billed to Tenants		% Collected		% Collected by Applying the Security Deposit		% Deferred		% Recorded as Bad Debt		% Abated
Office and Retail (1)	$	4,470,553	86.3	%	—	%	—	%	—	%	—	%
Parking	$	360,789	28.8	%	—	%	—	%	—	%	—	%

(1)As of August 5, 2020, the Company collected an additional 5.1% of the $4,470,553 rental and other property income billed to its office and retail tenants for the month of July 2020.