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LEASES (Tables)

3 Months Ended

Mar. 31, 2022

LEASES

Schedule of components of lease revenues

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

​	​	​	​	​	​	​
​	​	Three Months Ended
​	​	March 31,
​		2022			2021
Fixed lease revenues	​	$	18,341	​	$	17,465
Variable lease revenues	​	​	3,001	​	​	2,987
Lease revenues (a)	​	$	21,342	​	$	20,452

(a) Excludes amortization related to lease intangible assets and liabilities of $189 and $232 for the three months ended March 31, 2022 and 2021, respectively.

Schedule of minimum future contractual rents to be received

​

​	​	​	​
From April 1 – December 31, 2022	​	$	52,019
For the year ending December 31,	​	​	​
2023	​	​	66,615
2024	​	​	58,382
2025	​	​	54,061
2026	​	​	49,948
2027	​	​	42,269
Thereafter	​	​	145,536
Total	​	$	468,830

Schedule of minimum future lease payments

As of March 31, 2022, the minimum future lease payments related to the operating ground and office leases are as follows (amounts in thousands):

​

​	​	​	​
From April 1 – December 31, 2022	​	$	379
For the year ending December 31,	​	​	​
2023	​	​	507
2024	​		557
2025	​		626
2026	​		627
2027	​		629
Thereafter	​		5,591
Total undiscounted cash flows	​	$	8,916
Present value discount	​		(1,776)
Lease liability	​	$	7,140

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- References

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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=123408670&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=124258985&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=124258985&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=124502072&loc=SL77927221-108306

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