Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Schedule of intangible assets and liabilities

As of December 31, 2020 and 2019, the Company’s intangible assets and liabilities, including properties held for sale (if any), consisted of the following (dollars in thousands):

	December 31, 2020						December 31, 2019
	Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net
In-place leases	$	85,026	$	(64,668)	$	20,358	$	84,425	$	(59,504)	$	24,921
Above-market leases	3,833		(3,697)		136		4,169		(3,853)		316
Below-market leases	(45,798)		21,190		(24,608)		(44,099)		15,972		(28,127)
Total	$	43,061	$	(47,175)	$	(4,114)	$	44,495	$	(47,385)	$	(2,890)

Schedule of expected amortization of intangible assets and liabilities

Projected net amortization of the intangible assets and liabilities for the next five years and thereafter as of December 31, 2020 is as follows (dollars in thousands):

2021	$	2,460
2022	1,513
2023	525
2024	(46)
2025	(242)
Thereafter	(8,324)
Total	$	(4,114)

Schedule of depreciation and useful lives of real estate and intangible assets

The following table reflects the standard depreciable lives typically used to compute depreciation and amortization. However, such depreciable lives may be different based on the estimated useful life of such assets or liabilities.

Description	Standard Depreciable Life
Land	Not depreciated
Building	40 years
Building Improvements	5 - 40 years
Tenant Improvements	Shorter of lease term or useful life
Leasing Costs	Lease term
In-place leases	Lease term
Above/Below-Market Leases	Lease term

Schedule of cash and cash equivalents and restricted cash

The following summarizes the reconciliation of cash and cash equivalents and restricted cash as presented in the accompanying consolidated statements of cash flows (dollars in thousands):

	For the Year Ended December 31,
	2020		2019		2018
Beginning
Cash and cash equivalents at beginning of year	$	110,082	$	31,004	$	35,710
Restricted cash	2,657		3,475		7,090
Cash and cash equivalents and restricted cash	112,739		34,479		42,800
Ending
Cash and cash equivalents at end of year	107,180		110,082		31,004
Restricted cash	656		2,657		3,475
Cash and cash equivalents and restricted cash	107,836		112,739		34,479
Net (decrease) increase in cash and cash equivalents and restricted cash	$	(4,903)	$	78,260	$	(8,321)

Schedule of cash and cash equivalents and restricted cash

The following summarizes the reconciliation of cash and cash equivalents and restricted cash as presented in the accompanying consolidated statements of cash flows (dollars in thousands):

	For the Year Ended December 31,
	2020		2019		2018
Beginning
Cash and cash equivalents at beginning of year	$	110,082	$	31,004	$	35,710
Restricted cash	2,657		3,475		7,090
Cash and cash equivalents and restricted cash	112,739		34,479		42,800
Ending
Cash and cash equivalents at end of year	107,180		110,082		31,004
Restricted cash	656		2,657		3,475
Cash and cash equivalents and restricted cash	107,836		112,739		34,479
Net (decrease) increase in cash and cash equivalents and restricted cash	$	(4,903)	$	78,260	$	(8,321)