Acquired Lease Intangible Liabilities, Net (Tables)

9 Months Ended

Sep. 30, 2024

Below Market Lease [Abstract]

Summary of Acquired Lease Intangible Liabilities

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

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 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