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Future Minimum Rents and Lease Payments (Tables)
 9 Months Ended
Sep. 30, 2021
Leases [Abstract]  
Schedule of future minimum base rents
The following table summarizes the future minimum base rents (excluding tenant reimbursements for operating expenses and termination fees related to tenants exercising early termination options) for properties as of September 30, 2021:
Year EndedNon-cancellableSubject to Early Termination Options
Total (1)
Remaining 2021
$158,243 $881 $159,124 
2022615,780 11,754 627,534 
2023568,759 11,326 580,085 
2024507,086 15,811 522,897 
2025367,238 51,373 418,611 
Thereafter1,570,644 209,267 1,779,911 
TOTAL$3,787,750 $300,412 $4,088,162 
_____________ 
1.Excludes rents under leases at the Company’s studio properties with terms of one year or less.
Schedule of future minimum lease payments for ground leases
The following table provides information regarding the Company’s future minimum lease payments for its operating leases (including the impact of the extension options which the Company is reasonably certain to exercise) as of September 30, 2021:
Year
Lease Payments(1)
Remaining 2021
$5,162 
202220,656 
202320,448 
202420,420 
202520,437 
Thereafter521,237 
Total operating lease payments
608,360 
Less: interest portion(328,150)
PRESENT VALUE OF OPERATING LEASE LIABILITIES$280,210 
_____________ 
1.Future minimum lease payments for operating leases denominated in Canadian dollars are translated to U.S. dollars using the exchange rate in effect as of the financial statement date.
Schedule of rental expense for ground leases
The following table summarizes rental expense for operating leases:
Three Months Ended September 30,Nine Months Ended September 30,
2021202020212020
Variable rental expense$2,765 $2,427 $7,873 $6,683 
Minimum rental expense$5,421 $4,991 $15,963 $14,973