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Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2019

Significant Accounting Policies

Schedule of estimated useful lives of real estate assets

​

​	​	​	​	​	​
Category		Years
Commercial buildings		​	39	​	​
Building improvements		15	-	39	​
Fixtures and equipment		3	-	7	​

Schedule of estimated annual amortization expense for succeeding five years for acquired in-place lease and above-market leases

​

​	​	​	​	​
(in thousands)		December 31,
2020	​	$	12,494	​
2021	​		9,000	​
2022	​		5,420	​
2023	​		4,288	​
2024	​		3,539	​
2025 and thereafter	​		5,963	​

Schedule of estimated annual amortization for unfavorable leases

​

​	​	​	​	​
(in thousands)		December 31,
2020	​	$	920	​
2021	​		597	​
2022	​		323	​
2023	​		218	​
2024	​		144	​
2025 and thereafter	​		310	​

Schedule of Cash and cash equivalents

​

​	​	​	​	​	​	​
​		December 31,			December 31,
(in thousands)	​	2019		​	2018
Cash and cash equivalents	​	$	9,790	​	$	11,177
Restricted cash	​		—	​		—
Total cash, cash equivalents and restricted cash	​	$	9,790	​	$	11,177

Schedule of estimated annual amortization for deferred leasing commissions

​

​	​	​	​	​
(in thousands)		December 31,
2020		$	9,082	​
2021			8,584	​
2022			7,372	​
2023			6,467	​
2024			5,402	​
2025 and thereafter			15,860	​

Summary of rental revenue

​

​	​	​	​	​	​	​	​	​	​	​
​	​	Year Ended
​	​	December 31,
(in thousands)		2019			2018			2017
Income from leases	​	$	191,828	​	$	202,127	​	$	205,690	​
Reimbursable expenses	​		64,421	​		61,475	​		58,777	​
Straight-line rent adjustment	​		8,876	​		(381)	​		1,767	​
Amortization of favorable and unfavorable leases	​		402	​		556	​		1,031	​
​	​	$	265,527	​	$	263,777	​	$	267,265	​

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