Note 4 - Deferred Costs and Intangible Assets

9 Months Ended

Sep. 30, 2023

Notes to Financial Statements

Deferred Costs and Intangible Assets Disclosure [Text Block]

4. Deferred Costs and Intangible Assets

Deferred costs and intangible assets consist of the following:

	September 30, 2023			December 31, 2022
	(unaudited)
Deferred costs	$	348		$	348
Lease origination costs		1,463			1,376
In-place leases		428			428
Real estate tax abatements		9,142			9,142
Total deferred costs and intangible assets		11,381			11,294
Less accumulated amortization		(5,111	)		(4,670	)
Total deferred costs and intangible assets, net	$	6,270		$	6,624

Amortization of deferred costs, lease origination costs and in-place lease intangible assets was $29 and $60 for the three months ended September 30, 2023 and 2022, respectively, and $79 and $178 for the nine months ended September 30, 2023 and 2022, respectively; Amortization of real estate tax abatements of $120 and $120 for the three months ended September 30, 2023 and 2022, respectively, and $361 and $361 for the nine months ended September 30, 2023 and 2022, is included in real estate taxes and insurance in the consolidated statements of operations.

Deferred costs and intangible assets as of September 30, 2023, amortize in future years as follows:

2023 (Remainder)	$	157
2024		587
2025		570
2026		546
2027		534
Thereafter		3,876
Total	$	6,270