Quarterly report pursuant to Section 13 or 15(d)

TENANT LEASES

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TENANT LEASES
 9 Months Ended
Sep. 30, 2023
Leases [Abstract]  
TENANT LEASES TENANT LEASES
The Company’s consolidated office properties are 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 September 30, 2023 and December 31, 2022 are as follows (dollars in thousands):
Year
As of
 September 30,
2023
Amount
October 1 through December 31, 2023 $ 3,319
2024 12,072
2025 10,952
2026 8,822
2027 5,748
2028 and thereafter 7,807
Total $ 48,720
Year
As of December 31, 2022
Amount
2023 $ 14,618
2024 11,879
2025 10,535
2026 8,397
2027 5,315
2028 and thereafter 6,891
Total $ 57,635
Multifamily rental property residential leases are excluded from the above table as they generally expire within one year.