Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Schedule of intangible assets and liabilities

As of December 31, 2021 and 2020, the Company’s intangible assets and liabilities, including properties held for sale (if any), consisted of the following (dollars in thousands):

	December 31, 2021						December 31, 2020
	Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net
In-place leases	$	110,351	$	(72,266)	$	38,085	$	85,026	$	(64,668)	$	20,358
Above-market leases	3,775		(3,706)		69		3,833		(3,697)		136
Below-market leases	(78,753)		27,728		(51,025)		(45,798)		21,190		(24,608)
Total	$	35,373	$	(48,244)	$	(12,871)	$	43,061	$	(47,175)	$	(4,114)

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, 2021 is as follows (dollars in thousands):

2022	$	615
2023	279
2024	(734)
2025	(1,245)
2026	(1,330)
Thereafter	(10,456)
Total	$	(12,871)

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,
	2021		2020		2019
Beginning
Cash and cash equivalents at beginning 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
Ending
Cash and cash equivalents at end of year	204,404		107,180		110,082
Restricted cash	397		656		2,657
Cash and cash equivalents and restricted cash	204,801		107,836		112,739
Net increase (decrease) in cash and cash equivalents and restricted cash	$	96,965	$	(4,903)	$	78,260

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,
	2021		2020		2019
Beginning
Cash and cash equivalents at beginning 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
Ending
Cash and cash equivalents at end of year	204,404		107,180		110,082
Restricted cash	397		656		2,657
Cash and cash equivalents and restricted cash	204,801		107,836		112,739
Net increase (decrease) in cash and cash equivalents and restricted cash	$	96,965	$	(4,903)	$	78,260