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LEASES (Tables)

9 Months Ended

Sep. 30, 2023

LEASES

Schedule of components of lease revenues

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

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​

​

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Three Months Ended

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Nine Months Ended

​

​

September 30,

​

September 30,

​

2023

2022

2023

2022

Fixed lease revenues

​

$

18,872

​

$

18,339

​

$

57,159

​

$

55,085

Variable lease revenues

​

​

3,431

​

​

2,914

​

​

10,048

​

​

8,774

Lease revenues (a)

​

$

22,303

​

$

21,253

​

$

67,207

​

$

63,859

(a) Excludes $243 and $698 of amortization related to lease intangible assets and liabilities for the three and nine months ended September 30, 2023, respectively, and $220 and $617 for the three and nine months ended September 30, 2022, respectively.

Schedule of minimum future contractual rents to be received

As of September 30, 2023, 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 lease intangibles or incentives and (ii) variable lease payments as described above.

​	​	​	​
From October 1 – December 31, 2023	​	$	18,195
For the year ending December 31,	​	​	​
2024	​	​	69,767
2025	​	​	65,185
2026	​	​	61,088
2027	​	​	52,581
2028	​	​	41,900
Thereafter	​	​	133,228
Total	​	$	441,944

​

Schedule of minimum future lease payments

As of September 30, 2023, the minimum future lease payments related to these operating leases are as follows (amounts in thousands):

​	​	​	​
From October 1 – December 31, 2023	​	$	127
For the year ending December 31,	​	​	​
2024	​	​	557
2025	​	​	626
2026	​		627
2027	​		629
2028	​		630
Thereafter	​		1,229
Total undiscounted cash flows	​	$	4,425
Present value discount	​		(1,039)
Lease liability	​	$	3,386

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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
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147478964/842-20-50-6

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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
-Topic 842
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479773/842-30-50-12

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Tabular disclosure of components of income from operating lease.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479773/842-30-50-5

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482964/270-10-50-6A

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