XML 61 R48.htm IDEA: XBRL DOCUMENT v3.23.1

Future Minimum Rents and Lease Payments (Tables)

3 Months Ended

Mar. 31, 2023

Leases [Abstract]

Future Minimum Base Rents Receivable

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 March 31, 2023:

Year Ended
Remaining 2023						$	486,179
2024						599,051
2025						502,100
2026						448,994
2027						392,213
Thereafter						1,357,899
TOTAL						$	3,786,436

Future Minimum Lease Payments Due

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 March 31, 2023:

Year						Lease Payments(1)
Remaining 2023						$	29,584
2024						39,724
2025						39,958
2026						38,361
2027						35,671
Thereafter						557,227
Total operating lease payments						740,525
Less: interest portion						(341,444)
PRESENT VALUE OF OPERATING LEASE LIABILITIES						$	399,081

_____________ 

1.Future minimum lease payments for operating leases denominated in a foreign currency are translated to U.S. dollars using the exchange rate in effect as of the financial statement date.

Rental Expense

The following table summarizes rental expense for operating leases:

			Three Months Ended March 31,
			2023						2022
Variable rental expense			$	3,007					$	1,730
Minimum rental expense			$	11,082					$	6,524

X

- Definition

Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 50
-Paragraph 4
-URI https://asc.fasb.org/extlink&oid=128292326&loc=SL77918686-209980

+ Details

Name:	us-gaap_LeaseCostTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_LeasesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 50
-Paragraph 6
-URI https://asc.fasb.org/extlink&oid=128292326&loc=SL77918701-209980

+ Details

Name:	us-gaap_LesseeOperatingLeaseLiabilityMaturityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of maturity of undiscounted cash flows to be received by lessor on annual basis for operating lease.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 30
-Section 50
-Paragraph 12
-URI https://asc.fasb.org/extlink&oid=124258985&loc=SL77919396-209981

+ Details

Name:	us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration