Investment in Rental Real Estate, net |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investment in Rental Real Estate, net | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investment in Rental Real Estate, net |
5. Investment in Rental Real Estate, net At December 31, 2023, investment in rental real estate, net consisted of the following:
Additionally, the Company leases space to a tenant under an operating lease. The lease provides for the payment of fixed base rent payable monthly in advance and periodic step-ups in rent over the term of the lease and a pass through to tenants their share of increases in real estate taxes and operating expenses over a base year. The lease also provides for free rent and a tenant improvement allowance of approximately $1.8 million. As of December 31, 2023, future minimum rents under non-cancelable operating leases were as follows:
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- Definition The entire disclosure for certain real estate investment financial statements, real estate investment trust operating support agreements, real estate owned, retail land sales, time share transactions, as well as other real estate related disclosures. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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