Intangibles (Tables)

9 Months Ended

Sep. 30, 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:

	September 30, 2022
$ in thousands	Total Cost		Accumulated Amortization		Intangible Assets, net
Intangible assets, net:
In-place lease intangibles	$	47,366	$	(24,693)	$	22,673
Leasing commissions	5,774		(680)		5,094
Above-market lease intangibles	1,951		(147)		1,804
Total intangible assets, net	$	55,091	$	(25,520)	$	29,571
	Total Cost		Accumulated Amortization		Intangible Liabilities, net
Intangible liabilities, net:
Below-market lease intangibles	$	2,904	$	(454)	$	2,450
Total intangible liabilities, net	$	2,904	$	(454)	$	2,450

	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:

	September 30, 2022
$ in thousands	Total Cost		Accumulated Amortization		Intangible Assets, net
Intangible assets, net:
In-place lease intangibles	$	47,366	$	(24,693)	$	22,673
Leasing commissions	5,774		(680)		5,094
Above-market lease intangibles	1,951		(147)		1,804
Total intangible assets, net	$	55,091	$	(25,520)	$	29,571
	Total Cost		Accumulated Amortization		Intangible Liabilities, net
Intangible liabilities, net:
Below-market lease intangibles	$	2,904	$	(454)	$	2,450
Total intangible liabilities, net	$	2,904	$	(454)	$	2,450

	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 September 30, 2022 is:

$ in thousands	In-place Lease Intangibles		Leasing Commissions		Above-market Lease Intangibles		Below-market Lease Intangibles
2022 (remainder)	$	3,345	$	161	$	44	$	(169)
2023	4,047		649		176		(387)
2024	2,602		642		176		(387)
2025	2,189		623		176		(387)
2026	2,152		620		176		(387)
2027	1,805		542		176		(300)
Thereafter	6,533		1,857		880		(433)
	$	22,673	$	5,094	$	1,804	$	(2,450)

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, 2022 is:

$ in thousands	In-place Lease Intangibles		Leasing Commissions		Above-market Lease Intangibles		Below-market Lease Intangibles
2022 (remainder)	$	3,345	$	161	$	44	$	(169)
2023	4,047		649		176		(387)
2024	2,602		642		176		(387)
2025	2,189		623		176		(387)
2026	2,152		620		176		(387)
2027	1,805		542		176		(300)
Thereafter	6,533		1,857		880		(433)
	$	22,673	$	5,094	$	1,804	$	(2,450)