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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended
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Dec. 31, 2020
Accounting Policies [Abstract] |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles | Accounting Guidance Adopted
Description |  | Expected Adoption Date & Application Method |  | Financial Statement Effect and Other Information
Accounting Standards Update (“ASU”) 2016-13, Measurement of Credit Losses on Financial Instruments |  | January 1, 2020 - Modified Retrospective |  | The guidance replaced the current incurred loss impairment model, which reflects credit events, with a current expected credit loss model, which recognizes an allowance for credit losses based on an entity’s estimate of contractual cash flows not expected to be collected. The Company has determined that its available-for-sale debt securities, guarantees, mortgage and other notes receivable and receivables within the scope of ASC 606 fall under the scope of this standard. The adoption of this guidance did not have a material impact on the Company’s consolidated financial statements or disclosures.
ASU 2018-13, Fair Value Measurement |  | January 1, 2020 - Prospective |  | The guidance eliminates, adds and modifies certain disclosure requirements for fair value measurements. Entities no longer are required to disclose the amount of and reasons for transfers between Level 1 and 2 of the fair value hierarchy, but public companies are required to disclose the range and weighted average used to develop significant unobservable inputs for Level 3 fair value measurements. The adoption of this guidance did not have a material impact on the Company’s consolidated financial statements or disclosures.
ASU 2018-15, Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract |  | January 1, 2020 - Prospective |  | The guidance addresses diversity in practice in accounting for the costs of implementation activities in a cloud computing arrangement that is a service contract. Under the guidance, the Company is to follow Subtopic 350-40 on internal-use software to determine which implementation costs to capitalize and which to expense. The guidance also requires an entity to expense capitalized implementation costs over the term of the hosting arrangement and include that expense in the same line item as the fees associated with the service element of the arrangement. The adoption of this guidance did not have a material impact on the Company’s consolidated financial statements or disclosures.
Lease Modification Q&A |  | April 1, 2020 – Prospective |  | In April 2020, the FASB issued a question-and-answer document (the “Lease Modification Q&A”) focused on the application of lease accounting guidance related to lease concessions provided as a result of COVID-19. Under existing lease guidance, the Company would have to determine, on a lease by lease basis, if a lease concession was the result of a new arrangement reached with the tenant (treated within the lease modification accounting framework) or if a lease concession was under the enforceable rights and obligations within the existing lease agreement (precluded from applying the lease modification accounting framework). The Lease Modification Q&A clarifies that entities may elect to not evaluate whether lease-related relief that lessors provide to mitigate the economic effects of COVID-19 on lessees is a lease modification under Topic 842, Leases. Instead, an entity that elects not to evaluate whether a concession directly related to COVID-19 is a modification can then elect whether to apply the modification guidance (i.e. assume the relief was always contemplated by the contract or assume the relief was not contemplated by the contract). Both lessees and lessors may make this election. The Company has elected to apply the relief provided under the Lease Modification Q&A and will avail itself of the election to avoid performing a lease by lease analysis for the lease concessions that were (1) granted as relief due to the COVID-19 pandemic and (2) result in the cash flows remaining substantially the same or less than the original contract. The Lease Modification Q&A had a material impact on the Company’s consolidated financial statements as of and for the year ended December 31, 2020. However, its future impact to the Company is dependent upon the extent of lease concessions granted to tenants as a result of the COVID-19 pandemic in future periods and the elections made by the Company at the time of entering such concessions. The Lease Modification Q&A allows the Company to determine accounting policy elections at a disaggregated level, and the elections should be applied consistently by either the type of concession, underlying asset class or on another reasonable basis. As a result, the Company has made the following policy elections based on the type of concession agreed to with the respective tenant. Rent Deferrals The Company will account for rental deferrals using the receivables model as described within the Lease Modification Q&A. Under the receivables model, the Company will continue to recognize lease revenue in a manner that is unchanged from the original lease agreement and continue to recognize lease receivables and rental revenue during the deferral period. Rent Abatements The Company will account for rental abatements using the negative variable income model as described within the Lease Modification Q&A. Under the negative variable income model, the Company will recognize negative variable rent for the current period reduction of rental revenue associated with any lease concessions it provide s.
|  |  |  | At December 31, 2020, the Company’s receivables included $18,526 related to receivables that had been deferred and are to be repaid generally throughout 2021, and extending for a portion of 2022. The Company granted abatements of $25,439 during the year ended December 31, 2020. The Company continues to assess rent relief requests from its tenants but is unable to predict the resolution or impact of these discussions. For agreements that are currently under negotiation, the Company does not expect the impact to be material.
Accounting Guidance Not Yet Adopted |  |
Description |  |  | Financial Statement Effect and Other Information
ASU 2020-04, Reference Rate Reform |  |  | On March 12, 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848) - Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships and other transactions that reference LIBOR or other reference rates expected to be discontinued because of reference rate reform. This ASU is effective as of March 12, 2020 through December 31, 2022. The Company has not adopted any of the optional expedients or exceptions as of December 31, 2020, but will continue to evaluate the possible adoption of any such expedients or exceptions during the effective period to determine the impact on its consolidated financial statements.
Schedule of Intangible Assets and Balance Sheet Classifications | The Company’s intangibles and their balance sheet classifications as of December 31, 2020 and 2019, are summarized as follows:
|  | December 31, 2020 |  |  | December 31, 2019 |
|  | Cost |  |  | Accumulated Amortization |  |  | Cost |  |  | Accumulated Amortization |
Intangible lease assets and other assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Above-market leases |  | $ | 18,416 |  |  | $ | (16,395 | ) |  | $ | 21,098 |  |  | $ | (18,559 | )
In-place leases |  |  | 59,472 |  |  |  | (53,790 | ) |  |  | 66,309 |  |  |  | (58,559 | )
Tenant relationships |  |  | 34,630 |  |  |  | (7,909 | ) |  |  | 38,880 |  |  |  | (10,834 | )
Accounts payable and accrued liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Below-market leases |  |  | 42,274 |  |  |  | (36,224 | ) |  |  | 46,554 |  |  |  | (38,052 | )
Summary of Allowance for Doubtful Accounts | The following table sets forth the activity for the Company’s allowance for doubtful accounts:
|  | Year Ended December 31, |
|  | 2019 |  |  | 2018 (1) |
Tenant receivables - allowance for doubtful accounts: |  |  |  |  |  |  |  |
Balance, beginning of year |  | $ | 2,337 |  |  | $ | 2,011 |
Additions in allowance charged to expense |  |  | — |  |  |  | 4,817 |
Bad debts charged against allowance |  |  | (2,337 | ) |  |  | (4,491 | )
Balance, end of year |  | $ | — |  |  | $ | 2,337 |
|  | Year Ended December 31, |
|  | 2019 |  |  | 2018 (1) |
Other receivables - allowance for doubtful accounts: |  |  |  |  |  |  |  |
Balance, beginning of year |  | $ | — |  |  | $ | 838 |
Additions in allowance charged to expense |  |  | — |  |  |  | — |
Bad debts charged against allowance |  |  | — |  |  |  | (838 | )
Balance, end of year |  | $ | — |  |  | $ | — |
(1)Amounts are shown in accordance with ASC 840. Beginning January 1, 2019, the Company adopted ASC 842. See Note 5.
Schedule of Income Tax Provision | The Company recorded an income tax benefit (provision) as follows for the years ended December 31, 2020, 2019 and 2018:
|  | Year Ended December 31, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
Current tax provision |  | $ | (2,278 | ) |  | $ | (485 | ) |  | $ | (1,354 | )
Deferred tax benefit (provision) |  |  | (14,558 | ) |  |  | (2,668 | ) |  |  | 2,905 |
Income tax benefit (provision) |  | $ | (16,836 | ) |  | $ | (3,153 | ) |  | $ | 1,551 |

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