Annual report pursuant to Section 13 and 15(d)

Leases (Tables)

v3.20.1
Leases (Tables)
12 Months Ended
Dec. 31, 2019
Leases  
Schedule of aggregate annual cash to be received by the Company

The aggregate annual cash to be received by the Company on the noncancelable operating leases related to its portfolio as of December 31, 2019 is as follows for the subsequent years ended December 31:

 

 

 

 

 

2020

    

$

71,888

2021

 

 

70,621

2022

 

 

69,242

2023

 

 

67,763

2024

 

 

63,781

Thereafter

 

 

356,694

Total

 

$

699,989

 

The Company’s real estate assets are leased to tenants under operating leases. The rental amounts under the leases were generally subject to scheduled fixed increases. The aggregate annual minimum cash to be received by the Company on its noncancelable operating leases as of December 31, 2018 were as follows:

 

 

 

 

 

2019

    

$

50,527

2020

 

 

51,450

2021

 

 

49,926

2022

 

 

48,862

2023

 

 

47,743

Thereafter

 

 

330,180

Total

 

$

578,688

 

Schedule of aggregate cash payments to be made by the Company

The following table sets forth the undiscounted cash flows of our scheduled obligations for future payments on operating ground leases at December 31, 2019 and a reconciliation of those cash flows to the operating lease liability at December 31, 2019:

 

 

 

 

 

2020

    

$

116

2021

 

 

116

2022

 

 

116

2023

 

 

120

2024

 

 

125

Thereafter

 

 

4,351

Total

 

 

4,944

Discount

 

 

(2,539)

   Lease liability

 

$

2,405

 

The aggregate minimum cash payments to be made by the Company on these land leases as of December 31, 2018, were as follows:

 

 

 

 

 

2019

    

$

109

2020

 

 

109

2021

 

 

109

2022

 

 

109

2023

 

 

113

Thereafter

 

 

2,121

   Total

 

$

2,670