Intangibles (Tables)

3 Months Ended

Mar. 31, 2024

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, 2024
$ in thousands	Total Cost		Accumulated Amortization		Intangible Assets, net
Intangible assets, net:
In-place lease intangibles	$	46,969	$	(32,771)	$	14,198
Leasing commissions	5,768		(1,671)		4,097
Above-market lease intangibles	1,951		(410)		1,541
Total intangible assets, net	$	54,688	$	(34,852)	$	19,836
	Total Cost		Accumulated Amortization		Intangible Liabilities, net
Intangible liabilities, net:
Below-market lease intangibles	$	2,726	$	(1,055)	$	1,671
Total intangible liabilities, net	$	2,726	$	(1,055)	$	1,671

	December 31, 2023
$ in thousands	Total Cost		Accumulated Amortization		Intangible Assets, net
Intangible assets, net:
In-place lease intangibles	$	46,969	$	(32,085)	$	14,884
Leasing commissions	5,768		(1,506)		4,262
Above-market lease intangibles	1,951		(367)		1,584
Total intangible assets, net	$	54,688	$	(33,958)	$	20,730
	Total Cost		Accumulated Amortization		Intangible Liabilities, net
Intangible liabilities, net:
Below-market lease intangibles	$	2,726	$	(956)	$	1,770
Total intangible liabilities, net	$	2,726	$	(956)	$	1,770

Schedule of Below Market Leases

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

	March 31, 2024
$ in thousands	Total Cost		Accumulated Amortization		Intangible Assets, net
Intangible assets, net:
In-place lease intangibles	$	46,969	$	(32,771)	$	14,198
Leasing commissions	5,768		(1,671)		4,097
Above-market lease intangibles	1,951		(410)		1,541
Total intangible assets, net	$	54,688	$	(34,852)	$	19,836
	Total Cost		Accumulated Amortization		Intangible Liabilities, net
Intangible liabilities, net:
Below-market lease intangibles	$	2,726	$	(1,055)	$	1,671
Total intangible liabilities, net	$	2,726	$	(1,055)	$	1,671

	December 31, 2023
$ in thousands	Total Cost		Accumulated Amortization		Intangible Assets, net
Intangible assets, net:
In-place lease intangibles	$	46,969	$	(32,085)	$	14,884
Leasing commissions	5,768		(1,506)		4,262
Above-market lease intangibles	1,951		(367)		1,584
Total intangible assets, net	$	54,688	$	(33,958)	$	20,730
	Total Cost		Accumulated Amortization		Intangible Liabilities, net
Intangible liabilities, net:
Below-market lease intangibles	$	2,726	$	(956)	$	1,770
Total intangible liabilities, net	$	2,726	$	(956)	$	1,770

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, 2024 is:

$ in thousands	In-place Lease Intangibles		Leasing Commissions		Above-market Lease Intangibles		Below-market Lease Intangibles
2024 (remainder)	$	1,838	$	466	$	132	$	(262)
2025	2,110		612		176		(361)
2026	2,073		610		176		(361)
2027	1,726		531		176		(274)
2028	1,593		496		176		(222)
2029	1,166		340		164		(72)
Thereafter	3,692		1,042		541		(119)
	$	14,198	$	4,097	$	1,541	$	(1,671)

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, 2024 is:

$ in thousands	In-place Lease Intangibles		Leasing Commissions		Above-market Lease Intangibles		Below-market Lease Intangibles
2024 (remainder)	$	1,838	$	466	$	132	$	(262)
2025	2,110		612		176		(361)
2026	2,073		610		176		(361)
2027	1,726		531		176		(274)
2028	1,593		496		176		(222)
2029	1,166		340		164		(72)
Thereafter	3,692		1,042		541		(119)
	$	14,198	$	4,097	$	1,541	$	(1,671)