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Real Estate Investments, Net and Intangible Assets and Liabilities, Net (Tables)
 3 Months Ended
Mar. 31, 2022
Real Estate [Abstract]  
Schedule of Real Estate Investments, Net
Real estate investments, net, which consist of land, buildings and improvements leased to others subject to net operating leases and those utilized in the operations of Kerrow Restaurant Operating Business are summarized as follows:
March 31,
December 31,
(In thousands)
2022
2021
Land$991,895 $966,565 
Buildings and improvements1,316,091 1,302,114 
Equipment135,749 135,726 
Total gross real estate investments2,443,735 2,404,405 
Less: Accumulated depreciation(689,198)(682,430)
Total real estate investments, net1,754,537 1,721,975 
Intangible lease assets, net104,721 104,251 
Total Real Estate Investments and Intangible Lease Assets, Net$1,859,258 $1,826,226 
Schedule of Intangible Assets
The following tables detail intangible lease assets and liabilities.
March 31,
December 31,
(In thousands)
2022
2021
Acquired in-place lease intangibles$87,883 $83,892 
Above-market leases13,821 13,821 
Finance leases - right of use asset (1)
24,383 24,383 
Lease incentives7,061 7,061 
Direct lease costs87 87 
Total133,235 129,244 
Less: Accumulated amortization(28,514)(24,993)
Intangible Lease Assets, Net$104,721 $104,251 
(1)    See Note 5 - Leases for additional information on finance leases - right of use assets.
Schedule of Intangible Liabilities
March 31,
December 31,
(In thousands)
2022
2021
Below-market leases$2,978 $2,978 
Less: Accumulated amortization(1,129)(1,038)
Intangible Lease Liabilities, Net$1,849 $1,940 
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense
The following table presents the estimated impact during the next five years and thereafter related to the amortization of in-place lease intangibles, and above-market and below-market lease intangibles for properties held for investment at March 31, 2022.
(In thousands)
March 31,
2022 (nine months)$10,334 
202311,684 
202410,122 
20258,465 
20267,373 
Thereafter24,171 
Total Future Amortization$72,149