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LEASES (Tables) | 12 Months Ended
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Dec. 31, 2024
LEASES |
Schedule of components of lease revenues | The components of lease revenues are as follows (amounts in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31, |
​ |  | 2024 |  | 2023 |  | 2022 |
Fixed lease revenues | ​ | $ | 74,193 | ​ | $ | 75,935 | ​ | $ | 74,101 | ​
Variable lease revenues | ​ |  | 14,910 | ​ | ​ | 13,759 | ​ |  | 17,259 | (a)
Lease revenues (b) | ​ | $ | 89,103 | ​ | $ | 89,694 | ​ | $ | 91,360 | ​
(a) | Includes, for 2022, $4,626 of additional rent accrued from a ground lease tenant – see Note 6.
(b) | Excludes $1,210, $952 and $831 of amortization related to lease intangible assets and liabilities for 2024, 2023 and 2022, respectively.
Schedule of minimum future contractual rents to be received | ​ As of December 31, 2024, 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. ​
​ | ​ | ​ | ​
For the year ending December 31, | ​ | ​ | ​
2025 | ​ | $ | 72,245
2026 | ​ | ​ | 69,316
2027 | ​ | ​ | 60,088
2028 | ​ | ​ | 48,368
2029 | ​ | ​ | 37,303
Thereafter | ​ | ​ | 100,037
Total | ​ | $ | 387,357
Schedule of minimum future lease payments | As of December 31, 2024, the minimum future lease payments related to the operating ground and office leases are as follows (amounts in thousands): ​
​ | ​ | ​ | ​
For the year ending December 31, | ​ | ​ | ​
2025 | ​ | $ | 626
2026 | ​ | ​ | 627
2027 | ​ |  | 629
2028 | ​ |  | 630
2029 | ​ |  | 692
Thereafter | ​ |  | 537
Total undiscounted cash flows | ​ | $ | 3,741
Present value discount | ​ |  | (719)
Lease liability | ​ | $ | 3,022
​

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