Quarterly report pursuant to Section 13 or 15(d)

Real Estate (Tables)

v3.19.1
Real Estate (Tables)
3 Months Ended
Mar. 31, 2019
Real Estate [Abstract]  
Schedule of Future Minimum Rental Income
As of March 31, 2019, non-cancelable commercial operating leases provide for future minimum rental income as follows (in thousands). Apartment leases are not included as the terms are generally for one year or less.

2019
 
$
192,841

2020
 
181,544

2021
 
159,607

2022
 
139,518

2023
 
114,521

Thereafter
 
343,439

 
 
$
1,131,470

Schedule of Future Minimum Rental Income at Prior Year End
As of December 31, 2018, non-cancelable commercial operating leases provide for future minimum rental income as follows (in thousands):
2019
 
$
191,252

2020
 
175,925

2021
 
153,395

2022
 
133,359

2023
 
108,564

Thereafter
 
304,876

 
 
$
1,067,371

Schedule of Future Minimum Payments on Operating Ground Lease
The following table sets forth the undiscounted cash flows of our schedule obligations for future minimum payments on our operating ground lease at March 31, 2019 and a reconciliation of those cash flows to the operating lease liability at March 31, 2019 (in thousands):
2019
 
$
195

2020
 
260

2021
 
260

2022
 
260

2023
 
260

2024
 
260

Thereafter
 
11,895

 
 
13,390

Imputed interest
 
(9,233
)
Lease liability
 
$
4,157


Schedule of Real Estate Property Acquired
We did not execute any acquisitions during the 2019 Quarter. Properties and land for development acquired during the year ended December 31, 2018 were as follows:
Acquisition Date
 
Property
 
Type
 
# of units (unaudited)
 
Rentable
Square  Feet
(unaudited)
 
Contract
Purchase  Price
(in thousands)
January 18, 2018
 
Arlington Tower
 
Office
 
N/A
 
391,000
 
$
250,000

Schedule of Properties Sold
We sold our interests in the following properties in 2018:
Disposition Date
 
Property Name
 
Segment
 
Rentable Square Feet/ Number of Units
 
Contract
Sales  Price
(in thousands)
 
Gain on Sale
(in thousands)
January 19, 2018
 
Braddock Metro Center
 
Office
 
356,000
 
$
93,000

 
$

June 28, 2018
 
2445 M Street
 
Office
 
292,000
 
101,600

 
2,495

 
 
 
 
Total 2018
 
648,000
 
$
194,600

 
$
2,495