Acquired Lease Intangible Liabilities, Net

9 Months Ended

Sep. 30, 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 September 30,			As of December 31,
	2024			2023
Acquired lessor lease intangible liabilities	$	1,416,685		$	1,304,309
Accumulated accretion to rental income		(433,339	)		(331,932	)
Acquired lessor lease intangible liabilities, net	$	983,346		$	972,377

Acquired lessee lease intangible liabilities	$	45,207		$	45,207
Accumulated amortization to offset building expenses		(1,873	)		(1,324	)
Acquired lessee lease intangible liabilities, net	$	43,334		$	43,883

The Company acquired lease intangible liabilities of $112,376 reflected in the table above as of September 30, 2024.

The amortization for acquired lessor lease intangible liabilities for the three and nine months ended September 30, 2024 and 2023 was $33,802 and $34,756, and $101,406 and $136,745, respectively. The future amortization for acquired lessor lease intangible liabilities, net for subsequent years ending December 31 is listed below:


	As of September 30,
	2024
2024 (3 months remaining)		39,297
2025		155,610
2026		139,329
2027		130,389
2028		129,773
Thereafter		388,948
	$	983,346

The amortization for acquired lessee lease intangible liabilities for the three and nine months ended September 30, 2024 and 2023 was $183 and $549, respectively. The future amortization for acquired lessee lease intangible liabilities, net for subsequent years ending December 31 is listed below:


	As of September 30,
	2024
2024 (3 months remaining)	$	183
2025		732
2026		732
2027		732
2028		732
Thereafter		40,223
	$	43,334