Intangibles (Tables)

9 Months Ended

Sep. 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:

	September 30, 2021
$ in thousands	Total Cost		Accumulated Amortization		Intangible Assets, net
Intangible assets, net:
In-place lease intangibles	$	19,689	$	(2,325)	$	17,364
Leasing commissions	2,919		(174)		2,745
Above-market lease intangibles	1,321		—		1,321
Total intangible assets, net	$	23,929	$	(2,499)	$	21,430
	Total Cost		Accumulated Amortization		Intangible Liabilities, net
Intangible liabilities, net:
Below-market lease intangibles	$	1,605	$	(146)	$	1,459
Total intangible liabilities, net	$	1,605	$	(146)	$	1,459

	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:

	September 30, 2021
$ in thousands	Total Cost		Accumulated Amortization		Intangible Assets, net
Intangible assets, net:
In-place lease intangibles	$	19,689	$	(2,325)	$	17,364
Leasing commissions	2,919		(174)		2,745
Above-market lease intangibles	1,321		—		1,321
Total intangible assets, net	$	23,929	$	(2,499)	$	21,430
	Total Cost		Accumulated Amortization		Intangible Liabilities, net
Intangible liabilities, net:
Below-market lease intangibles	$	1,605	$	(146)	$	1,459
Total intangible liabilities, net	$	1,605	$	(146)	$	1,459

	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 September 30, 2021 is:

$ in thousands	In-place Lease Intangibles		Leasing Commissions		Above-market Lease Intangibles		Below-market Lease Intangibles
2021 (remainder)	$	3,788	$	72	$	24	$	(49)
2022	7,453		285		94		(194)
2023	746		285		94		(194)
2024	746		285		94		(194)
2025	746		285		94		(194)
2026	746		282		94		(194)
Thereafter	3,139		1,251		827		(440)
	$	17,364	$	2,745	$	1,321	$	(1,459)

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 September 30, 2021 is:

$ in thousands	In-place Lease Intangibles		Leasing Commissions		Above-market Lease Intangibles		Below-market Lease Intangibles
2021 (remainder)	$	3,788	$	72	$	24	$	(49)
2022	7,453		285		94		(194)
2023	746		285		94		(194)
2024	746		285		94		(194)
2025	746		285		94		(194)
2026	746		282		94		(194)
Thereafter	3,139		1,251		827		(440)
	$	17,364	$	2,745	$	1,321	$	(1,459)