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Related Person Transactions (Tables)
6 Months Ended
Jun. 30, 2016
Related Person Transactions  
Schedule of Rent

 

 

 

 

 

 

 

 

 

 

 

Number of Travel Centers

 

Initial Term End (1)

 

Minimum Annual Rent as of June 30, 2016 (2)

 

Deferred Rent (3)

TA No. 1 Lease

 

40

 

December 31, 2029

$

50,651

$

27,421

TA No. 2 Lease

 

39

 

December 31, 2028

 

49,817

 

29,107

TA No. 3 Lease

 

39

 

December 31, 2026

 

52,130

 

29,324

TA No. 4 Lease

 

39

 

December 31, 2030

 

49,274

 

21,233

TA No. 5 Lease

 

40

 

June 30, 2032

 

66,129

 

42,915

 

 

197

 

 

$

268,001

$

150,000

(1)

TA has two renewal options of 15 years each under each of our TA leases.

(2)

Deferred rent for the TA Nos. 1, 2, 3 and 4 leases is due and payable on the respective initial term end dates noted above. 

(3)

Deferred rent for the TA Lease No. 5 is due and payable on June 30, 2024.  Deferred rent is subject to acceleration at our option upon an uncured default by, or a change in control of, TA.