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Lease Arrangements (Tables)
 9 Months Ended
Sep. 30, 2023
Leases [Abstract]  
Lease Income for Residential and Commercial Property Leases

For the three and nine months ended September 30, 2023 and 2022, our total lease income was comprised of the following amounts for all residential and commercial property leases (in thousands):

Aimco as Lessee

 

 

Three Months Ended
 September 30,

 

 

Nine Months Ended
 September 30,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Fixed lease income

 

$

43,937

 

 

$

44,239

 

 

$

127,150

 

 

$

137,519

 

Variable lease income

 

 

3,640

 

 

 

3,443

 

 

 

10,046

 

 

 

10,853

 

   Total lease income

 

$

47,577

 

 

$

47,682

 

 

$

137,196

 

 

$

148,372

 

 
Minimum Annual Lease Payments Under Operating, Financing Leases and Sublease Income

Combined minimum annual lease payments under operating and finance leases, and sublease income that offsets our operating lease rent, are as follows (in thousands):

 

Sublease Income and Lease Modification Income

 

 

Operating Lease Future Minimum Rent

 

 

Finance Leases Future Minimum Payments

 

Remainder of 2023

$

351

 

 

$

473

 

 

$

725

 

2024

 

1,413

 

 

 

2,657

 

 

 

3,921

 

2025

 

1,423

 

 

 

2,355

 

 

 

4,437

 

2026

 

1,433

 

 

 

2,341

 

 

 

4,954

 

2027

 

1,443

 

 

 

2,380

 

 

 

5,483

 

Thereafter

 

2,083

 

 

 

3,024

 

 

 

1,433,296

 

   Total

$

8,146

 

 

 

13,230

 

 

 

1,452,816

 

Less: Discount

 

 

 

 

(1,179

)

 

 

(1,335,150

)

   Total lease liabilities

 

 

$

12,051

 

 

$

117,666