Quarterly report pursuant to Section 13 or 15(d)

Tenant Leases

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Tenant Leases
 9 Months Ended
Sep. 30, 2015
Tenant Leases [Abstract]  
Tenant Leases

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 September 30, 2015 are as follows (dollars in thousands):

 

 

 

 

 

 

 

Year

 

Amount

October 1 through December 31, 2015

$
112,433 

2016

 
452,893 

2017

 
410,203 

2018

 
327,024 

2019

 
263,918 

2020 and thereafter

 
1,077,550 

 

 

 

Total

$
2,644,021 

 

 

 

 

 

 

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