REAL ESTATE ASSETS (Tables)

9 Months Ended

Sep. 30, 2020

Real Estate [Abstract]

Schedule of real estate assets and intangible lease assets

The following schedules present the cost and related accumulated depreciation or amortization (as applicable) of the Partnership’s real estate assets and intangible lease assets:

		As of
	Estimated Useful Lives	September 30, 2020		December 31, 2019
	(Years)	(In thousands)
Buildings	20-30	$	102,553	$	102,375
Tenant improvements	15	4,506		4,501
Land	N/A	2,437		2,437
Land improvements	15	484		484
Total real estate assets		109,980		109,797
Less: accumulated depreciation		(12,165)		(8,681)
Total investment in real estate, net		$	97,815	$	101,116

		As of
	Weighted Average Useful Lives	September 30, 2020		December 31, 2019
	(Months)	(In thousands)
In-place lease intangibles	45	$	11,275	$	11,389
Less: accumulated amortization		(7,687)		(5,927)
In-place lease intangibles, net		3,588		5,462
Above-market lease intangibles	45	3,623		3,623
Less: accumulated amortization		(1,466)		(1,015)
Above-market lease intangibles, net		2,157		2,608
Total intangible lease assets, net		$	5,745	$	8,070

Schedule of amortization expense

The following table presents the Partnership’s estimated amortization expense related to lease intangibles for the periods indicated (in thousands):

Remainder of
2020		2021		2022		2023		2024		Thereafter
$	583	$	1,779	$	663	$	728	$	814	$	1,178