Intangibles (Tables)

6 Months Ended

Jun. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Finite-Lived Intangible Assets

The gross carrying amount and accumulated amortization of our intangible assets and liabilities are:

	June 30, 2021
$ in thousands	Total Cost		Accumulated Amortization		Intangible Assets, net
Intangible assets, net:
In-place lease intangibles	$	7,341	$	(1,864)	$	5,477
Leasing commissions	2,136		(116)		2,020
Total intangible assets, net	$	9,477	$	(1,980)	$	7,497
	Total Cost		Accumulated Amortization		Intangible Liabilities, net
Intangible liabilities, net:
Below-market lease intangibles	$	1,605	$	(98)	$	1,507
Total intangible liabilities, net	$	1,605	$	(98)	$	1,507

	December 31, 2020
$ in thousands	Total Cost		Accumulated Amortization		Intangible Assets, net
Intangible assets, net:
In-place lease intangibles	$	5,475	$	(7)	$	5,468
Leasing commissions	2,136		(4)		2,132
Total intangible assets, net	$	7,611	$	(11)	$	7,600
	Total Cost		Accumulated Amortization		Intangible Liabilities, net
Intangible liabilities, net:
Below-market lease intangibles	$	1,605	$	—	$	1,605
Total intangible liabilities, net	$	1,605	$	—	$	1,605

Schedule of Below Market Leases

The gross carrying amount and accumulated amortization of our intangible assets and liabilities are:

	June 30, 2021
$ in thousands	Total Cost		Accumulated Amortization		Intangible Assets, net
Intangible assets, net:
In-place lease intangibles	$	7,341	$	(1,864)	$	5,477
Leasing commissions	2,136		(116)		2,020
Total intangible assets, net	$	9,477	$	(1,980)	$	7,497
	Total Cost		Accumulated Amortization		Intangible Liabilities, net
Intangible liabilities, net:
Below-market lease intangibles	$	1,605	$	(98)	$	1,507
Total intangible liabilities, net	$	1,605	$	(98)	$	1,507

	December 31, 2020
$ in thousands	Total Cost		Accumulated Amortization		Intangible Assets, net
Intangible assets, net:
In-place lease intangibles	$	5,475	$	(7)	$	5,468
Leasing commissions	2,136		(4)		2,132
Total intangible assets, net	$	7,611	$	(11)	$	7,600
	Total Cost		Accumulated Amortization		Intangible Liabilities, net
Intangible liabilities, net:
Below-market lease intangibles	$	1,605	$	—	$	1,605
Total intangible liabilities, net	$	1,605	$	—	$	1,605

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

The estimated future amortization of our intangibles for each of the next five years and thereafter as of June 30, 2021 is:

$ in thousands	In-place Lease Intangibles		Leasing Commissions		Below-market Lease Intangibles
2021 (remainder)	$	611	$	114	$	(97)
2022	601		227		(194)
2023	601		227		(194)
2024	601		227		(194)
2025	601		227		(194)
2026	601		227		(194)
Thereafter	1,861		771		(440)
	$	5,477	$	2,020	$	(1,507)

Schedule of Below Market Lease, Future Amortization Income

The estimated future amortization of our intangibles for each of the next five years and thereafter as of June 30, 2021 is:

$ in thousands	In-place Lease Intangibles		Leasing Commissions		Below-market Lease Intangibles
2021 (remainder)	$	611	$	114	$	(97)
2022	601		227		(194)
2023	601		227		(194)
2024	601		227		(194)
2025	601		227		(194)
2026	601		227		(194)
Thereafter	1,861		771		(440)
	$	5,477	$	2,020	$	(1,507)