Veris Residential, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Tenant Leases

Tenant Leases

6 Months Ended

Jun. 30, 2015

13. TENANT LEASES

The Properties are leased to tenants under operating leases with various expiration dates through 2035. Substantially all of the commercial leases provide for annual base rents plus recoveries and escalation charges based upon the tenant’s proportionate share of and/or increases in real estate taxes and certain operating costs, as defined, and the pass‑through of charges for electrical usage.

Future minimum rentals to be received under non-cancelable commercial operating leases at June 30, 2015 are as follows (dollars in thousands):



Year		Amount
July 1 through December 31, 2015	$	223,162
2016		441,825
2017		392,032
2018		308,731
2019		250,839
2020 and thereafter		997,712

Total	$	2,614,301

Multi-family rental property residential leases are excluded from the above table as they generally expire within one year.

- Definition

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

+ References + Details