Quarterly report pursuant to Section 13 or 15(d)

TENANT LEASES

v3.22.2
TENANT LEASES
 6 Months Ended
Jun. 30, 2022
Leases [Abstract]  
TENANT LEASES TENANT LEASESThe Company’s consolidated office properties are leased to tenants under operating leases with various expiration dates through 2038. 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 (excluding properties classified as discontinued operations) at June 30, 2022 and December 31, 2021 are as follows (dollars in thousands):
Year
As of June 30, 2022
Amount
July 1 through December 31, 2022 $ 45,735
2023 90,521
2024 80,735
2025 77,227
2026 74,513
2027 and thereafter 381,764
Total $ 750,495
Year
As of December 31, 2021
Amount
2022 $ 115,256
2023 114,355
2024 98,374
2025 94,042
2026 91,297
2027 and thereafter 416,712
Total $ 930,036
Multifamily rental property residential leases are excluded from the above table as they generally expire within one year.