Annual report pursuant to Section 13 and 15(d)

VEREIT Office Assets, Leases (Tables)

v3.24.0.1
VEREIT Office Assets, Leases (Tables)
 12 Months Ended
Dec. 31, 2023
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 under the terms of its operating lease agreements, excluding expense reimbursements, over the next five years and thereafter as of December 31, 2023 (in thousands).
Future Minimum
Base Rent Payments
2024
 $ 112,322 
2025 77,722 
2026 74,532 
2027 54,061 
2028 42,353 
Thereafter 170,646 
Total $ 531,636 
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, 2023 (in thousands).
Future Minimum Lease Payments
2024
 $ 1,135 
2025 1,184 
2026 778 
2027 752 
2028 761 
Thereafter 12,517 
Total 17,127 
Less: imputed interest 5,977 
Total $ 11,150 
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,
2021
Fixed:
Cash rent $ 109,582 
Straight-line rent (4,889)
Lease intangible amortization
 (29)
Property operating cost reimbursements
 3,270 
Total fixed
 107,934 
Variable (1)
26,806 
Total rental revenue $ 134,740 
____________________________________
(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