Annual report pursuant to Section 13 and 15(d)

TENANT LEASES

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TENANT LEASES
 12 Months Ended
Dec. 31, 2023
Leases [Abstract]  
TENANT LEASES TENANT LEASES
The Company’s consolidated office property is leased to tenants under operating leases with various expiration dates through 2034. 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 December 31, 2023 and 2022 are as follows (dollars in thousands):
As of December 31, 2023
Year Amount
2024 $ 12,231 
2025 10,952 
2026 8,822 
2027 5,748 
2028 2,113 
2029 and thereafter 5,706 
Total $ 45,572
As of December 31, 2022
Year Amount
2023 $ 14,798
2024 12,231
2025 10,952
2026 8,822
2027 5,748
2028 and thereafter 7,819
Total $ 60,370
Multifamily rental property residential leases are excluded from the above table as they generally expire within one year.