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LEASES (Tables) | 12 Months Ended
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Dec. 31, 2020
Leases [Abstract] |
Operating Lease Scheduled Minimum Lease Payments | The Company leases properties to tenants under operating leases with various expiration dates. Scheduled minimum lease payments on noncancellable leases at December 31, 2020 are as follows (in thousands):
Year |  | Minimum Rent
2021 |  | $ | 325,703 |
2022 |  | 310,208 |
2023 |  | 292,871 |
2024 |  | 268,062 |
2025 |  | 236,623 |
Thereafter |  | 968,163 |
Lease Costs | The table below summarizes the Company’s operating lease cost (in thousands) recognized through “Property operating expenses” on the consolidated statements of operations (in thousands):
|  | Year Ended December 31,
Lease Cost |  | 2020 |  | 2019
Fixed lease cost |  | $ | 2,100 |  |  | $ | 2,100 |
Variable lease cost |  | 45 |  |  | 54 |
Total |  | $ | 2,145 |  |  | $ | 2,154 |
Weighted-average remaining lease term (years) |  | 55.9 |  | 56.6
Weighted-average discount rate |  | 6.3 | % |  | 6.3 | %
Operating Lease Liability Maturities | Lease payments on noncancellable leases at December 31, 2020 are as follows (in thousands):
Year |  | Minimum Rent
2021 |  | $ | 1,232 |
2022 |  | 1,248 |
2023 |  | 1,263 |
2024 |  | 1,305 |
2025 |  | 1,321 |
Thereafter |  | 109,131 |
Total lease payments |  | $ | 115,500 |
Less: Imputed interest |  | 92,742 |
Present value of operating lease liabilities |  | $ | 22,758 |

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- 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 http://asc.fasb.org/extlink&oid=121609121&loc=SL77918686-209980 + Details
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- 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 http://asc.fasb.org/extlink&oid=121609121&loc=SL77918701-209980 + Details
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- 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 http://asc.fasb.org/extlink&oid=121576215&loc=SL77919396-209981 + Details
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