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Future Minimum Rents and Lease Payments (Tables)

6 Months Ended

Jun. 30, 2024

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 June 30, 2024:

Year						Amount
Remaining 2024						$	288,174
2025						502,770
2026						452,398
2027						397,368
2028						331,781
Thereafter						833,471
TOTAL						$	2,805,962

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 June 30, 2024:

Year						Lease Payments(1)
Remaining 2024						$	20,690
2025						40,513
2026						38,937
2027						36,265
2028						34,364
Thereafter						523,743
Total operating lease payments						694,512
Less: interest portion						(315,727)
PRESENT VALUE OF OPERATING LEASE LIABILITIES						$	378,785

__________________ 

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 June 30,												Six Months Ended June 30,
			2024						2023						2024						2023
Variable rental expense			$	2,754					$	3,384					$	4,857					$	6,387
Minimum rental expense			$	11,313					$	11,093					$	22,632					$	22,180

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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