Annual report pursuant to Section 13 and 15(d)

VEREIT Office Assets, Leases (Tables)

v3.22.4
VEREIT Office Assets, Leases (Tables)
 12 Months Ended
Dec. 31, 2022
Entity Information [Line Items]  
Schedule of Operating Lease Payments to be Received
The following table presents future minimum base rent payments due to the Company over the next five years and thereafter as of December 31, 2022 (in thousands).
Future Minimum
Base Rent Payments
2023
 $ 137,833 
2024 110,559 
2025 72,868 
2026 69,771 
2027 50,342 
Thereafter 184,574 
Total $ 625,947 
Schedule of Operating Lease Liability, Maturity
The following table reflects the maturity analysis of payments due from the Company over the next five years and thereafter for ground and corporate office lease obligations as of December 31, 2022 (in thousands).
Future Minimum Lease Payments
2023
 $ 1,134 
2024 883 
2025 892 
2026 478 
2027 445 
Thereafter 12,939 
Total 16,771 
Less: imputed interest 6,079 
Total $ 10,692 
VEREIT Office Assets  
Entity Information [Line Items]  
Schedule of Lease Income
The components of rental revenue from VEREIT Office Assets’ operating leases were as follows (in thousands):
Ten Months Ended October 31, Year Ended December 31,
2021 2020
Fixed:
Cash rent $ 109,582  $ 132,402 
Straight-line rent (4,889) (869)
Lease intangible amortization
 (29) (67)
Property operating cost reimbursements
 3,270  3,794 
Total fixed
 107,934  135,260 
Variable (1)
26,806  35,044 
Total rental revenue $ 134,740  $ 170,304 
____________________________________
(1)Includes costs reimbursed related to property operating expenses, common area maintenance and percentage rent.
Schedule of Operating Lease Payments to be Received
The following table presents future minimum operating lease payments due to VEREIT Office Assets over the next five years and thereafter as of October 31, 2021 (in thousands).
Future Minimum
Operating Lease Payments
November 1, 2021 - December 31, 2021 $ 15,683 
2022 110,872 
2023 95,130 
2024 72,361 
2025 38,980 
2026 29,951 
Thereafter 34,357 
Total $ 397,334 
Schedule of Operating Lease Liability, Maturity
The following table reflects the maturity analysis of payments due from VEREIT Office Assets over the next five years and thereafter for ground lease obligations as of October 31, 2021 (in thousands).
Future Minimum Lease Payments
November 1, 2021 - December 31, 2021 $ 55 
2022 329 
2023 329 
2024 329 
2025 329 
2026 329 
Thereafter 10,062 
Total 11,762 
Less: imputed interest 6,403 
Total $ 5,359