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Lease Revenue

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Lease Revenue

Lease Revenue

We lease our multifamily properties and commercial properties under agreements that are classified as operating leases. Our multifamily leases generally include minimum rents and charges for ancillary services. Our commercial property leases generally included minimum rents and recoveries for property taxes and common area maintenance. Minimum rental revenues are recognized on a straight-line basis over the terms of the related leases.

The following table summarizes the components of rental revenue for the years ended December 31, 2022, 2021 and 2020:

			For the Year Ended December 31,
			2022						2021						2020
Fixed component			$	32,163					$	35,555					$	49,974
Variable component			1,917						2,253						1,935
Total rental revenue			$	34,080					$	37,808					$	51,909

The following table summarizes the future rental payments to us from under non-cancelable leases, which excludes multifamily properties, which typically have lease terms of one-year or less:

Year						Amount
2023						$	11,620
2024						9,015
2025						8,638
2026						8,286
2027						8,012
Thereafter						21,713
Total						$	67,284

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- References

No definition available.

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- Definition

The entire disclosure for lessor's operating leases.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 30
-URI https://asc.fasb.org/subtopic&trid=77888252

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