Acquired Lease Intangible Liabilities, Net (Tables)

6 Months Ended

Jun. 30, 2024

Below Market Lease [Abstract]

Summary of Acquired Lease Intangible Liabilities

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

	As of June 30,			As of December 31,
	2024			2023
Acquired lessor lease intangible liabilities	$	1,304,309		$	1,304,309
Accumulated accretion to rental income		(399,536	)		(331,932	)
Acquired lessor lease intangible liabilities, net	$	904,773		$	972,377
Acquired lessee lease intangible liabilities	$	45,207		$	45,207
Accumulated amortization to offset building expenses		(1,690	)		(1,324	)
Acquired lessee lease intangible liabilities, net	$	43,517		$	43,883

Summary of Future Amortization for Intangible Liabilities

The future amortization for acquired lessor lease intangible liabilities, net for subsequent years ending December 31 is listed below:

	As of June 30,
	2024
2024 (6 months remaining)		68,322
2025		135,543
2026		119,262
2027		110,322
2028		109,706
Thereafter		361,618
	$	904,773

The amortization for acquired lessee lease intangible liabilities for the three and six months ended June 30, 2024 and 2023 was $183 and $366, respectively. The future amortization for acquired lessee lease intangible liabilities, net for subsequent years ending December 31 is listed below:

	As of June 30,
	2024
2024 (6 months remaining)	$	366
2025		732
2026		732
2027		732
2028		732
Thereafter		40,223
	$	43,517