Intangibles (Tables)

3 Months Ended

Mar. 31, 2022

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:

	March 31, 2022
$ in thousands	Total Cost		Accumulated Amortization		Intangible Assets, net
Intangible assets, net:
In-place lease intangibles	$	37,835	$	(11,451)	$	26,384
Leasing commissions	5,749		(331)		5,418
Above-market lease intangibles	1,951		(59)		1,892
Total intangible assets, net	$	45,535	$	(11,841)	$	33,694
	Total Cost		Accumulated Amortization		Intangible Liabilities, net
Intangible liabilities, net:
Below-market lease intangibles	$	2,904	$	(244)	$	2,660
Total intangible liabilities, net	$	2,904	$	(244)	$	2,660

	December 31, 2021
$ in thousands	Total Cost		Accumulated Amortization		Intangible Assets, net
Intangible assets, net:
In-place lease intangibles	$	24,094	$	(6,115)	$	17,979
Leasing commissions	2,932		(230)		2,702
Above-market lease intangibles	1,322		(26)		1,296
Total intangible assets, net	$	28,348	$	(6,371)	$	21,977
	Total Cost		Accumulated Amortization		Intangible Liabilities, net
Intangible liabilities, net:
Below-market lease intangibles	$	1,677	$	(195)	$	1,482
Total intangible liabilities, net	$	1,677	$	(195)	$	1,482

Schedule of Below Market Leases

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

	March 31, 2022
$ in thousands	Total Cost		Accumulated Amortization		Intangible Assets, net
Intangible assets, net:
In-place lease intangibles	$	37,835	$	(11,451)	$	26,384
Leasing commissions	5,749		(331)		5,418
Above-market lease intangibles	1,951		(59)		1,892
Total intangible assets, net	$	45,535	$	(11,841)	$	33,694
	Total Cost		Accumulated Amortization		Intangible Liabilities, net
Intangible liabilities, net:
Below-market lease intangibles	$	2,904	$	(244)	$	2,660
Total intangible liabilities, net	$	2,904	$	(244)	$	2,660

	December 31, 2021
$ in thousands	Total Cost		Accumulated Amortization		Intangible Assets, net
Intangible assets, net:
In-place lease intangibles	$	24,094	$	(6,115)	$	17,979
Leasing commissions	2,932		(230)		2,702
Above-market lease intangibles	1,322		(26)		1,296
Total intangible assets, net	$	28,348	$	(6,371)	$	21,977
	Total Cost		Accumulated Amortization		Intangible Liabilities, net
Intangible liabilities, net:
Below-market lease intangibles	$	1,677	$	(195)	$	1,482
Total intangible liabilities, net	$	1,677	$	(195)	$	1,482

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 March 31, 2022 is:

$ in thousands	In-place Lease Intangibles		Leasing Commissions		Above-market Lease Intangibles		Below-market Lease Intangibles
2022 (remainder)	$	7,748	$	477	$	132	$	(371)
2023	2,194		619		176		(387)
2024	2,194		619		176		(387)
2025	2,194		615		176		(387)
2026	2,194		612		176		(387)
2027	1,972		552		176		(300)
Thereafter	7,888		1,924		880		(441)
	$	26,384	$	5,418	$	1,892	$	(2,660)

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 March 31, 2022 is:

$ in thousands	In-place Lease Intangibles		Leasing Commissions		Above-market Lease Intangibles		Below-market Lease Intangibles
2022 (remainder)	$	7,748	$	477	$	132	$	(371)
2023	2,194		619		176		(387)
2024	2,194		619		176		(387)
2025	2,194		615		176		(387)
2026	2,194		612		176		(387)
2027	1,972		552		176		(300)
Thereafter	7,888		1,924		880		(441)
	$	26,384	$	5,418	$	1,892	$	(2,660)