Acquired Lease Intangible Liabilities, Net

3 Months Ended

Mar. 31, 2024

Acquired Lease Intangible Liabilities, net

Note 4 – Acquired lease intangible liabilities, net

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


	As of March 31,			As of December 31,
	2024			2023
Acquired lessor lease intangible liabilities	$	1,304,309		$	1,304,309
Accumulated accretion to rental income		(365,734	)		(331,932	)
Acquired lessor lease intangible liabilities, net	$	938,575		$	972,377

Acquired lessee lease intangible liabilities	$	45,207		$	45,207
Accumulated amortization to offset building expenses		(1,507	)		(1,324	)
Acquired lessee lease intangible liabilities, net	$	43,700		$	43,883

The amortization for acquired lessor lease intangible liabilities for the three months ended March 31, 2024 and 2023 was $33,802 and $26,114, respectively. The future amortization for acquired lessor lease intangible liabilities, net for subsequent years ending December 31 is listed below:


	As of March 31,
	2024
2024 (9 months remaining)		102,364
2025		135,543
2026		119,262
2027		110,322
2028		109,706
Thereafter		361,378
	$	938,575

The amortization for acquired lessee lease intangible liabilities for the three months ended March 31, 2024 and 2023 was $183 and $183, respectively. The future amortization for acquired lessee lease intangible liabilities, net for subsequent years ending December 31 is listed below:


	As of March 31,
	2024
2024 (9 months remaining)	$	549
2025		732
2026		732
2027		732
2028		732
Thereafter		40,223
	$	43,700