Intangibles (Tables)

3 Months Ended

Mar. 31, 2023

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, 2023
$ in thousands	Total Cost		Accumulated Amortization		Intangible Assets, net
Intangible assets, net:
In-place lease intangibles	$	47,366	$	(30,007)	$	17,359
Leasing commissions	5,895		(1,008)		4,887
Above-market lease intangibles	1,951		(235)		1,716
Total intangible assets, net	$	55,212	$	(31,250)	$	23,962
	Total Cost		Accumulated Amortization		Intangible Liabilities, net
Intangible liabilities, net:
Below-market lease intangibles	$	2,904	$	(659)	$	2,245
Total intangible liabilities, net	$	2,904	$	(659)	$	2,245

	December 31, 2022
$ in thousands	Total Cost		Accumulated Amortization		Intangible Assets, net
Intangible assets, net:
In-place lease intangibles	$	47,366	$	(28,038)	$	19,328
Leasing commissions	5,774		(844)		4,930
Above-market lease intangibles	1,951		(191)		1,760
Total intangible assets, net	$	55,091	$	(29,073)	$	26,018
	Total Cost		Accumulated Amortization		Intangible Liabilities, net
Intangible liabilities, net:
Below-market lease intangibles	$	2,904	$	(560)	$	2,344
Total intangible liabilities, net	$	2,904	$	(560)	$	2,344

Schedule of Below Market Leases

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

	March 31, 2023
$ in thousands	Total Cost		Accumulated Amortization		Intangible Assets, net
Intangible assets, net:
In-place lease intangibles	$	47,366	$	(30,007)	$	17,359
Leasing commissions	5,895		(1,008)		4,887
Above-market lease intangibles	1,951		(235)		1,716
Total intangible assets, net	$	55,212	$	(31,250)	$	23,962
	Total Cost		Accumulated Amortization		Intangible Liabilities, net
Intangible liabilities, net:
Below-market lease intangibles	$	2,904	$	(659)	$	2,245
Total intangible liabilities, net	$	2,904	$	(659)	$	2,245

	December 31, 2022
$ in thousands	Total Cost		Accumulated Amortization		Intangible Assets, net
Intangible assets, net:
In-place lease intangibles	$	47,366	$	(28,038)	$	19,328
Leasing commissions	5,774		(844)		4,930
Above-market lease intangibles	1,951		(191)		1,760
Total intangible assets, net	$	55,091	$	(29,073)	$	26,018
	Total Cost		Accumulated Amortization		Intangible Liabilities, net
Intangible liabilities, net:
Below-market lease intangibles	$	2,904	$	(560)	$	2,344
Total intangible liabilities, net	$	2,904	$	(560)	$	2,344

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, 2023 is:

$ in thousands	In-place Lease Intangibles		Leasing Commissions		Above-market Lease Intangibles		Below-market Lease Intangibles
2023 (remainder)	$	2,046	$	610	$	132	$	(352)
2024	2,602		642		176		(387)
2025	2,189		623		176		(387)
2026	2,184		620		176		(387)
2027	1,805		542		176		(300)
2028	1,672		507		176		(248)
Thereafter	4,861		1,343		704		(184)
	$	17,359	$	4,887	$	1,716	$	(2,245)

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, 2023 is:

$ in thousands	In-place Lease Intangibles		Leasing Commissions		Above-market Lease Intangibles		Below-market Lease Intangibles
2023 (remainder)	$	2,046	$	610	$	132	$	(352)
2024	2,602		642		176		(387)
2025	2,189		623		176		(387)
2026	2,184		620		176		(387)
2027	1,805		542		176		(300)
2028	1,672		507		176		(248)
Thereafter	4,861		1,343		704		(184)
	$	17,359	$	4,887	$	1,716	$	(2,245)