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Leases (Tables)

6 Months Ended

Jun. 30, 2023

Leases [Abstract]

Schedule of Lease Cost

Additional disclosures regarding the Company’s leases as lessee are as follows:


	Three Months Ended June 30,								Six Months Ended June 30,
	2023				2022				2023				2022
Lease Cost
Finance lease cost:
Amortization of right-of-use assets	$	225				225			$	451			$	451
Interest on lease liabilities		108				102				214				202
Subtotal		333				327				665				653
Operating lease cost		1,328				1,295				2,664				2,670
Variable lease cost		73				22				144				42
Total lease cost	$	1,734			$	1,644			$	3,473			$	3,365

Other Information
Weighted-average remaining lease term - finance leases (years)										31.6				32.3
Weighted-average remaining lease term - operating leases (years)										13.3				13.8
Weighted-average discount rate - finance leases										6.3	%			6.3	%
Weighted-average discount rate - operating leases										5.1	%			5.1	%

Schedule of Future Minimum Rental Revenues and Payments for Operating and Capital Leases

The scheduled future minimum (i) rental revenues from rental properties under the terms of non-cancelable tenant leases greater than one year (assuming no new or renegotiated leases for such premises) and (ii) rental payments under the terms of all non-cancelable operating and finance leases in which the Company is the lessee, principally for office space, land and equipment, as of June 30, 2023, are summarized as follows (in thousands):


						Minimum Rental Payments
Year Ending December 31,		Minimum Rental Revenues (a)				Operating Leases (b)				Finance Leases (b)
2023 (Remainder)		$	115,959			$	2,697			$	—
2024			237,314				5,414				—
2025			211,514				5,329				—
2026			184,926				5,173				—
2027			161,412				4,373				—
Thereafter			668,805				20,067				12,549
			1,579,930				43,053				12,549
Interest			—				(9,608	)			(5,313	)
Total		$	1,579,930			$	33,445			$	7,236

a)

Amount represents contractual lease maturities at June 30, 2023 including any extension options that management determined were reasonably certain of exercise.

b)

Minimum rental payments include $10.0 million of interest related to operating leases and $5.3 million related to finance leases and exclude options or renewals not reasonably certain of exercise.