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BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 9 Months Ended
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Sep. 30, 2020
Accounting Policies [Abstract] |
Schedule of Estimated Useful Lives of Investments in Real Estate | Depreciation and amortization are recorded on a straight-line basis over the estimated useful lives as follows:
Buildings and improvements |  | 15 - 40 years
Furniture, fixtures, and equipment |  | 3 - 5 years
Tenant improvements |  | Shorter of the useful lives or the terms of the related leases
Schedule of Recognized Rental Income | For the three and nine months ended September 30, 2020 and 2019, we recognized rental income as follows:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2020 |  | 2019 |  | 2020 |  | 2019
|  | (in thousands)
Rental and other property income |  |  |  |  |  |  |  |
Fixed lease payments (1) |  | $ | 12,382 |  |  | $ | 15,389 |  |  | $ | 38,294 |  |  | $ | 66,925 |
Variable lease payments (2) |  | 515 |  |  | 1,917 |  |  | 3,122 |  |  | 6,381 |
Rental and other property income |  | $ | 12,897 |  |  | $ | 17,306 |  |  | $ | 41,416 |  |  | $ | 73,306 |
(1)Fixed lease payments include contractual rents under lease agreements with tenants recognized on a straight-line basis over the lease term, including amortization of acquired above-market leases, below-market leases and lease incentives. (2)Variable lease payments include expense reimbursements billed to tenants and percentage rent, net of bad debt expense from our operating leases.
Schedule of Reconciliation of Hotel Revenue | Below is a reconciliation of the hotel revenue from contracts with customers to the total hotel segment revenue disclosed in Note 17:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2020 |  | 2019 |  | 2020 |  | 2019
|  | (in thousands)
Hotel properties |  |  |  |  |  |  |  |
Hotel income |  | $ | 1,525 |  |  | $ | 7,734 |  |  | $ | 10,153 |  |  | $ | 27,087 |
Rental and other property income |  | 222 |  |  | 736 |  |  | 911 |  |  | 2,208 |
Interest and other income |  | 15 |  |  | 41 |  |  | 65 |  |  | 135 |
Hotel revenues |  | $ | 1,762 |  |  | $ | 8,511 |  |  | $ | 11,129 |  |  | $ | 29,430 |
Schedule of Deferred Rent Receivables and Charges | As of September 30, 2020 and December 31, 2019, deferred rent receivable and charges consist of the following:
|  | September 30, 2020 |  | December 31, 2019
|  | (in thousands)
Deferred rent receivable |  | $ | 20,734 |  |  | $ | 19,988 |
Deferred leasing costs, net of accumulated amortization of $7,987 and $7,438, respectively |  | 8,162 |  |  | 9,443 |
Deferred offering costs |  | 5,892 |  |  | 5,275 |
Other deferred costs |  | 542 |  |  | 151 |
Deferred rent receivable and charges, net |  | $ | 35,330 |  |  | $ | 34,857 |

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