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Future Minimum Rents and Lease Payments (Tables)

9 Months Ended

Sep. 30, 2023

Leases [Abstract]

Schedule of 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 September 30, 2023:

Year Ended
Remaining 2023						$	157,835
2024						608,532
2025						515,865
2026						460,496
2027						407,481
Thereafter						1,390,474
TOTAL						$	3,540,683

Schedule of 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 September 30, 2023:

Year						Lease Payments(1)
Remaining 2023						$	10,115
2024						41,275
2025						40,514
2026						38,938
2027						36,272
Thereafter						558,138
Total operating lease payments						725,252
Less: interest portion						(331,479)
PRESENT VALUE OF OPERATING LEASE LIABILITIES						$	393,773

_____________ 

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.

Schedule of Rental Expense

The following table summarizes rental expense for operating leases:

			Three Months Ended September 30,												Nine Months Ended September 30,
			2023						2022						2023						2022
Variable rental expense			$	2,691					$	1,219					$	8,870					$	7,316
Minimum rental expense			$	11,372					$	7,841					$	33,760					$	20,122

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
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147478964/842-20-50-4

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X

- References

No definition available.

+ Details

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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
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147478964/842-20-50-6

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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
-Topic 842
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479773/842-30-50-12

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