Intangibles (Tables)

6 Months Ended

Jun. 30, 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:

	June 30, 2023
$ in thousands	Total Cost		Accumulated Amortization		Intangible Assets, net
Intangible assets, net:
In-place lease intangibles	$	47,366	$	(30,696)	$	16,670
Leasing commissions	5,895		(1,174)		4,721
Above-market lease intangibles	1,951		(279)		1,672
Total intangible assets, net	$	55,212	$	(32,149)	$	23,063
	Total Cost		Accumulated Amortization		Intangible Liabilities, net
Intangible liabilities, net:
Below-market lease intangibles	$	2,904	$	(758)	$	2,146
Total intangible liabilities, net	$	2,904	$	(758)	$	2,146

	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:

	June 30, 2023
$ in thousands	Total Cost		Accumulated Amortization		Intangible Assets, net
Intangible assets, net:
In-place lease intangibles	$	47,366	$	(30,696)	$	16,670
Leasing commissions	5,895		(1,174)		4,721
Above-market lease intangibles	1,951		(279)		1,672
Total intangible assets, net	$	55,212	$	(32,149)	$	23,063
	Total Cost		Accumulated Amortization		Intangible Liabilities, net
Intangible liabilities, net:
Below-market lease intangibles	$	2,904	$	(758)	$	2,146
Total intangible liabilities, net	$	2,904	$	(758)	$	2,146

	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 June 30, 2023 is:

$ in thousands	In-place Lease Intangibles		Leasing Commissions		Above-market Lease Intangibles		Below-market Lease Intangibles
2023 (remainder)	$	1,356	$	333	$	88	$	(199)
2024	2,602		656		176		(396)
2025	2,189		637		176		(396)
2026	2,184		636		176		(396)
2027	1,805		556		176		(309)
2028	1,672		521		176		(258)
Thereafter	4,862		1,382		704		(192)
	$	16,670	$	4,721	$	1,672	$	(2,146)

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, 2023 is:

$ in thousands	In-place Lease Intangibles		Leasing Commissions		Above-market Lease Intangibles		Below-market Lease Intangibles
2023 (remainder)	$	1,356	$	333	$	88	$	(199)
2024	2,602		656		176		(396)
2025	2,189		637		176		(396)
2026	2,184		636		176		(396)
2027	1,805		556		176		(309)
2028	1,672		521		176		(258)
Thereafter	4,862		1,382		704		(192)
	$	16,670	$	4,721	$	1,672	$	(2,146)