Acquired Lease Intangible Liabilities, Net

9 Months Ended

Sep. 30, 2023

Acquired Lease Intangible Liabilities, net

Note 5 – Acquired Lease Intangible Liabilities, net

Acquired lease intangible liabilities, net is comprised of the following:


	As of September 30,			As of December 31,
	2023			2022
Acquired lessor lease intangible liabilities	$	1,429,413		$	965,216
Accumulated accretion to rental income		(421,855	)		(369,858	)
Acquired lessor lease intangible liabilities, net	$	1,007,558		$	595,358

Acquired lessee lease intangible liabilities	$	45,207		$	45,207
Accumulated amortization to offset building expenses		(1,141	)		(592	)
Acquired lessee lease intangible liabilities, net	$	44,066		$	44,615

The amortization for acquired lessor lease intangible liabilities for the three months ended September 30, 2023 and 2022 was $34,756 and $26,114, respectively. The amortization for acquired lessor lease intangible liabilities for the nine months ended September 30,

2023 and 2022 was $136,745 and $76,069, respectively. The future amortization for acquired lessor lease intangible liabilities, net for subsequent years ending December 31 is listed below:


	As of September 30,
	2023
2023 (3 months remaining)	$	34,042
2024		136,166
2025		135,543
2026		119,262
2027		110,322
Thereafter		472,223
	$	1,007,558

The amortization for acquired lessee lease intangible liabilities for the three months ended September 30, 2023 and 2022 was $183 and $183, respectively. The amortization for acquired lessee lease intangible liabilities for the nine months ended September 30, 2023 and 2022 was $549 and $409, respectively. The future amortization for acquired lessee lease intangible liabilities, net for subsequent years ending December 31 is listed below:


	As of September 30,
	2023
2023 (3 months remaining)	$	183
2024		732
2025		732
2026		732
2027		732
Thereafter		40,955
	$	44,066