We are obligated as lessee under four ground leases. Future minimum rental payments due under the terms of these leases for the nine months ending December 31, 2026 and each of the five succeeding fiscal years and thereafter are as follows (dollars in thousands):


Year	Future Lease Payments Due Under Operating Leases
Nine Months Ending December 31, 2026	$	346
2027	467
2028	470
2029	470
2030	385
2031	378
Thereafter	2,596
Total anticipated lease payments	$	5,112
Less: amount representing interest	(1,360)
Present value of lease payments	$	3,752


Year	Future Lease Payments Due Under Finance Leases
Nine Months Ending December 31, 2026	$	133
2027	178
2028	178
2029	178
2030	178
2031	200
Thereafter	6,898
Total anticipated lease payments	$	7,943
Less: amount representing interest	(4,970)
Present value of lease payments	$	2,973

Rental expense incurred for properties with ground lease obligations during the three months ended March 31, 2026 was $0.1 million. Rental expense incurred for properties with ground lease obligations during the three months ended March 31, 2025 was $0.1 million. Three of our ground leases are treated as operating leases and rental expenses are reflected in property operating expenses on the condensed consolidated statements of operations and comprehensive income. One of our ground leases is treated as a finance lease and rental expense is reflected in interest expenses on the condensed consolidated statements of operations and comprehensive income. Our ground leases have a weighted average remaining lease term of 22.5 years and a weighted average discount rate of 5.81%.