Annual report pursuant to Section 13 and 15(d)

Commitments and Contingencies

v2.4.1.9
Commitments and Contingencies
 12 Months Ended
Dec. 31, 2014
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 as of December 31, 2014, 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       $ 169       $ 169       $ 169       $ 169       $ 169       $ 169       $ 85   

Dartmouth, MA

      May-36         174         174         174         174         174         174         3,127   

Springfield, MA

      Feb-30         86         86         89         90         90         90         884   
     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  
      $ 429       $ 429       $ 432       $ 433       $ 433       $ 433       $ 4,096   
     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Expenses recorded in connection to rental expense incurred for the properties listed above during the years ended December 31, 2014, 2013, and 2012 were $0.4 million for each of the three years. Rental expenses are reflected in property operating expenses on the consolidated statements of operations.