Future Minimum Lease Payments

3 Months Ended

Mar. 31, 2018

Future Minimum Lease Payments [Abstract]

Contingent rental expense is recorded in the period in which the contingent event becomes probable. The following table summarizes rent expense for ground leases as follows:



	Three Months Ended March 31,
	2018		2017
Contingent rental expense	$	3,095	$	2,184
Minimum rental expense	3,337		3,196

The following table provides information regarding the Company’s future minimum lease payments for its ground leases (before the impact of extension options, if applicable) as of March 31, 2018:



Year	Ground Leases ⁽¹⁾⁽²⁾
Remaining 2018	$	10,601
2019	14,161
2020	14,161
2021	14,161
2022	14,161
Thereafter	382,070
Total	$	449,315

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(1)	In situations where ground lease obligation adjustments are based on third-party appraisals of fair market land value, CPI adjustments and/or percentage of gross income that exceeds the minimum annual rent, the future minimum lease amounts above include the lease rental obligations in effect as of March 31, 2018.


(2)	Balance includes future minimum ground lease obligation for 9300 Wilshire, which was sold on April 10, 2018.