LEASE INTANGIBLES (Tables)

9 Months Ended

Sep. 30, 2022

LEASE INTANGIBLES

Schedule of Intangible Assets, Liabilities and Accumulated Amortization

	Lease		Accumulated		Lease
As of September 30, 2022	Intangibles		Amortization		Intangibles, net
Lease Intangible Assets	(in thousands)
In-place leases	$	15,305	$	(10,758)	$	4,547
Above-market leases		2,466		(1,457)		1,009
	$	17,771	$	(12,215)	$	5,556
Lease Intangible Liabilities
Below-market leases	$	(2,380)	$	1,696	$	(684)

	Lease		Accumulated		Lease
As of December 31, 2021	Intangibles		Amortization		Intangibles, net
Lease Intangible Assets	(in thousands)
In-place leases	$	15,455	$	(10,381)	$	5,074
Above-market leases		2,617		(1,445)		1,172
	$	18,072	$	(11,826)	$	6,246
Lease Intangible Liabilities
Below-market leases	$	(2,525)	$	1,714	$	(811)

Schedule of Estimated Aggregate Amortization Expense

	Intangible		Intangible
Years ending December 31,	Assets		Liabilities
	(in thousands)
2022 (October 1, 2022 - December 31, 2022)	$	388	$	38
2023		857		151
2024		827		151
2025		827		151
2026		676		80
Thereafter		1,981		113
	$	5,556	$	684