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Leases

6 Months Ended

Jun. 30, 2020

Leases [Abstract]

Leases

5. LEASES

Information as Lessor Under ASC Topic 842

To generate positive cash flow, as a lessor, the Trust leases its facilities to tenants in exchange for monthly payments. The Trust’s leases for its railroad, solar farms and greenhouse cultivation facilities have an average lease term of ranging between 20 and 99 years. Payments from the Trust’s leases are recognized on a straight-line basis over the terms of the respective leases. Rental revenue recognized for the six months ended June 30, 2020 is approximately $1,696,000.

The aggregate annual cash to be received by the Trust on all leases related to its portfolio as of June 30, 2020 is as follows for the subsequent years ended December 31:

		Total
2020 (six months remaining)		$	1,493,876
2021		$	5,921,568
2022		$	6,275,144
2023		$	5,819,737
2024		$	3,633,474
Thereafter		$	79,275,779
Total		$	102,419,578

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- References

No definition available.

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- Definition

The entire disclosure for lessor entity's leasing arrangements for operating, capital and leveraged leases.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 840
-URI http://asc.fasb.org/topic&trid=2208923

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