Commitments and Contingencies |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Commitments and Contingencies Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Commitments and Contingencies | Commitments and Contingencies Ground Leases
We are obligated as lessee under four ground leases. Future lease payments due under the terms of these leases as of June 30, 2020 are as follows (dollars in thousands):
Rental expense incurred for properties with ground lease obligations during the three and six months ended June 30, 2020 was $0.1 million and $0.3 million, respectively, and during the three and six months ended June 30, 2019 was $0.1 million and $0.3 million, respectively. Our ground leases are treated as operating leases and rental expenses are reflected in property operating expenses on the condensed consolidated statements of operations and comprehensive income.
Letters of Credit
As of June 30, 2020, there was $13.5 million outstanding under letters of credit. These letters of credit are not reflected on our condensed consolidated balance sheets.
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- References No definition available.
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- Definition The entire disclosure for commitments and contingencies. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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