Discontinued Operations (Tables)

6 Months Ended

Jun. 30, 2021

Discontinued Operations And Disposal Groups [Abstract]

Summarized Results of Discontinued Operations

Summarized results of discontinued operations are shown below (in thousands):

	Three Months Ended			Six Months Ended
	June 30, 2020			June 30, 2020
REVENUES
Rental and other property revenues	$	37,165		$	75,674
OPERATING EXPENSES
Property operating expenses		13,415			26,736
Depreciation and amortization		18,740			37,770
Other expenses, net		127			325
Total operating expenses		32,282			64,831
Interest income		540			1,074
Interest expense		(4,563	)		(9,093	)
Income from unconsolidated real estate partnerships		170			352
Income before income tax benefit		1,030			3,176
Income tax benefit		2,096			4,015
Income from discontinued operations, net of tax		3,126			7,191
Net loss attributable to noncontrolling interests in consolidated real estate partnerships		116			219
Net income from discontinued operations attributable to Spinnee	$	3,242		$	7,410

Summary of Sales Type and Direct Financing Leases Receivable Maturity

The initial term of each of the leases range from 10 to 25 years. All of the lease payments are triple net basis to the tenant and we have rights in accordance with the individual lease agreements to protect the value of our leased properties. As of June 30, 2021, the aggregate minimum lease payments owed to us for each of the five succeeding years under the sales-type leases is as follows:

2021 (remaining)	$	12,799
2022		25,597
2023		25,597
2024		25,597
2025		25,708
Thereafter		737,841
Total lease receivable (1) (2)	$	853,139
Add: Unguaranteed residual value		131,580
Less: Discount		(505,278	)
Total leased real estate assets	$	479,441

(1)As of June 30, 2021, this amount includes $250.8 million of guaranteed residual value and $608.4 million of remaining cash lease payments.

(2)The total future minimum lease payments assume that no early termination option is elected after the leased property is stabilized, which is currently expected between January 1, 2024 and January 1, 2025.