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LEASES (Tables)

3 Months Ended

Mar. 31, 2021

LEASES

Schedule of components of lease revenues

The components of lease revenues are as follows (amounts in thousands):

​	​	​	​	​	​	​
​	​	Three Months Ended
​	​	March 31,
​		2021			2020
Fixed lease revenues	​	$	17,465	​	$	18,067
Variable lease revenues	​	​	2,987	​	​	2,982
Lease revenues (a)	​	$	20,452	​	$	21,049

(a) Excludes $232 and $190 of amortization related to lease intangible assets and liabilities for the three months ended March 31, 2021 and 2020, respectively.

Schedule of minimum future contractual rents to be received

As of March 31, 2021, the minimum future contractual rents to be received on non-cancellable operating leases are included in the table below (amounts in thousands). The minimum future contractual rents do not include (i) straight-line rent or amortization of intangibles, (ii) COVID-19 lease deferral repayments accrued to rental income in 2020 and (iii) variable lease payments as described above.

​

​	​	​	​
From April 1 – December 31, 2021	​	$	52,571
For the year ended December 31,	​	​	​
2022	​	​	62,646
2023	​	​	53,279
2024	​	​	44,609
2025	​	​	40,391
2026	​	​	34,860
Thereafter	​	​	129,439
Total	​	$	417,795

Schedule of minimum future lease payments

As of March 31, 2021, the minimum future lease payments related to the operating ground and office leases are as follows (amounts in thousands):

​

​	​	​	​
From April 1 – December 31, 2021	​	$	383
For the year ended December 31,	​	​	​
2022	​	​	506
2023	​		507
2024	​		557
2025	​		626
2026	​		627
Thereafter	​		6,220
Total undiscounted cash flows	​	$	9,426
Present value discount	​		(2,000)
Lease liability	​	$	7,426

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- References

No definition available.

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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

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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

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- Definition

Tabular disclosure of components of income from operating lease.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 30
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121576215&loc=SL77919372-209981

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 50
-Paragraph 6A
-URI http://asc.fasb.org/extlink&oid=121640914&loc=SL77927221-108306

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