Acquired Lease Intangible Liabilities, net

12 Months Ended

Dec. 31, 2024

Below Market Lease [Abstract]

Acquired Lease Intangible Liabilities, net

Note 5 – Acquired Lease Intangible Liabilities, net

Acquired lease intangible liabilities are comprised of the following:

	As of December 31,			As of December 31,
	2024			2023
Acquired lessor lease intangible liabilities	$	1,468,695		$	1,304,309
Accumulated accretion to rental income		(475,573	)		(331,932	)
Acquired lessor lease intangible liabilities, net	$	993,122		$	972,377
Acquired lessee lease intangible liabilities	$	45,207		$	45,207
Accumulated amortization to offset building expenses		(2,057	)		(1,324	)
Acquired lessee lease intangible liabilities, net	$	43,150		$	43,883

The amortization for acquired lessor lease intangible liabilities for the twelve months ended December 31, 2024 and 2023 was $143,641 and $171,925, respectively. The future amortization for acquired lessor lease intangible liabilities is listed below:

	As of December 31,
	2024
2025	$	164,166
2026		149,611
2027		140,430
2028		139,988
2029		87,570
Thereafter		311,357
	$	993,122

The amortization for acquired lessee lease intangible liabilities for the twelve months ended December 31, 2024 and 2023 was $731 and 732, respectively. The future amortization for acquired lessee lease intangible liabilities is listed below:

	As of December 31,
	2024
2025	$	731
2026		731
2027		731
2028		731
2029		731
Thereafter		39,495
	$	43,150