Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies

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Commitments and Contingencies
3 Months Ended
Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies
Commitments and Contingencies

Ground Leases

We are obligated as lessee under four ground leases. Future minimum rental payments due under the terms of these leases as of March 31, 2018 are as follows (dollars in thousands):
 
Year
 
Minimum Rental Payments Due
Nine Months Ending December 31, 2018
 
$
349

2019
 
465

2020
 
466

2021
 
392

2022
 
319

2023
 
322

Thereafter
 
3,914

Total
 
$
6,227



Expenses recorded in connection to rental expense incurred for the properties listed above during the three months ended March 31, 2018 and 2017 were $0.1 million and $0.1 million, respectively. Rental expenses are reflected in property operating expenses on the condensed consolidated statements of operations and comprehensive income.

Letters of Credit

As of March 31, 2018, there was $1.0 million outstanding under letters of credit. These letters of credit are not reflected on our condensed consolidated balance sheets.