Annual report pursuant to Section 13 and 15(d)

Commitments and Contingencies

v2.4.1.9
Commitments and Contingencies
 12 Months Ended
Dec. 31, 2014
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies
Commitments and Contingencies

Our non-cancelable operating leases, with initial terms in excess of one year, have terms that expire from 2014 to 2101. Annual rental payments for these leases totaled approximately $6.0 million, $5.8 million and $5.8 million, for the years ended December 31, 2014, 2013 and 2012, respectively. Minimum lease payments for the next five years and thereafter are as follows (in thousands):
2015
 
$
5,807

2016
 
5,871

2017
 
5,590

2018
 
5,567

2019
 
5,734

Thereafter
 
301,040

 
 
$
329,609


Commitments to complete construction of our ongoing capital projects and other capital expenditure requirements amounted to approximately $80.3 million at December 31, 2014. Commitments for construction represent only those costs contractually required to be paid by us. Our portion of contractual commitments for ongoing capital projects and other capital expenditure requirements related to our unconsolidated joint ventures amounted to approximately $33.5 million at December 31, 2014.

We are also subject to legal proceedings and claims which have arisen in the ordinary course of our business and have not been finally adjudicated. In our opinion, the ultimate resolution of these matters is not expected to have a material effect on our results of operations, financial condition or cash flows.