SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2025

Accounting Policies [Abstract]

Schedule of Indefinite-Lived Intangible Assets

The following table summarizes the Company’s intangible lease liabilities (dollars in thousands):

	As of December 31, 2025			As of December 31, 2024
	Balance		Weighted Average Remaining Amortization Period in Years	Balance		Weighted Average Remaining Amortization Period in Years
Intangible assets:
In-place lease(1)	$	35,733		$	4,840
Above-market lease intangibles(2)	14,457			—
Total lease intangibles	50,190			4,840
Accumulated amortization	(1,440)			(1,291)
Net intangible assets	$	48,750	19.8	$	3,549	4.6
Intangible liabilities:
Below-market lease intangibles(2)	$	22,534		$	9,858
Accumulated amortization	(597)			(3,269)
Net intangible liabilities	$	21,937	23.2	$	6,589	1.8

(1) Amortization of intangibles is recorded in Depreciation and amortization in our consolidated income statements.
(2) Amortization of above- and below-market lease intangibles is recorded as a decrease and an increase to revenues, respectively, in our consolidated
income statements.

Schedule of Finite-Lived Intangible Assets

The following table summarizes the Company’s intangible lease liabilities (dollars in thousands):

	As of December 31, 2025			As of December 31, 2024
	Balance		Weighted Average Remaining Amortization Period in Years	Balance		Weighted Average Remaining Amortization Period in Years
Intangible assets:
In-place lease(1)	$	35,733		$	4,840
Above-market lease intangibles(2)	14,457			—
Total lease intangibles	50,190			4,840
Accumulated amortization	(1,440)			(1,291)
Net intangible assets	$	48,750	19.8	$	3,549	4.6
Intangible liabilities:
Below-market lease intangibles(2)	$	22,534		$	9,858
Accumulated amortization	(597)			(3,269)
Net intangible liabilities	$	21,937	23.2	$	6,589	1.8

(1) Amortization of intangibles is recorded in Depreciation and amortization in our consolidated income statements.
(2) Amortization of above- and below-market lease intangibles is recorded as a decrease and an increase to revenues, respectively, in our consolidated
income statements.

Schedule of Estimated Useful Lives of Assets

The Company anticipates the estimated useful lives

of its assets by class to be generally as follows:

Building	25-40 years
Building improvements	10-25 years
Tenant improvements	Shorter of lease term or expected useful life
Integral equipment, furniture and fixtures	3-7 years
Identified intangible assets	Shorter of lease term or expected useful life