Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies

v2.4.1.9
Commitments and Contingencies
 3 Months Ended
Mar. 31, 2015
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies

9. Commitments and Contingencies

Ground Leases

We are obligated as lessee under three ground leases. Future minimum rental payments due under the terms of these leases for the remainder of 2015 and each of the five succeeding years and thereafter, are as follows (dollars in thousands):

 

            For the year ended December 31,         

Location

    Lease End Date      2015      2016      2017      2018      2019      2020      Thereafter  

Tulsa, OK

      Apr-21       $ 127       $ 169       $ 169       $ 169       $ 169       $ 169       $ 85   

Dartmouth, MA

      May-36         131         174         174         174         174         174         3,126   

Springfield, MA

      Feb-30         64         86         89         90         90         90         884   
     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  
$ 322    $ 429    $ 432    $ 433    $ 433    $ 433    $ 4,095   
     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Expenses recorded in connection to rental expense incurred for the properties listed above during both the three months ended March 31, 2015 and 2014 were $0.1 million, respectively. Rental expenses are reflected in property operating expenses on the condensed consolidated statements of operations.