Investments in Real Estate

3 Months Ended

Mar. 31, 2024

Real Estate Investments, Net [Abstract]

Investments in Real Estate

Note 3 - Investments in Real Estate

Investments in real estate, net consisted of the following ($ in thousands):

	March 31, 2024			December 31, 2023
Building and building improvements	$	132,792		$	132,792
Land and land improvements		22,707			22,707
Tenant improvements		621			621
Total		156,120			156,120
Accumulated depreciation		(2,506	)		(1,607	)
Investment in real estate, net	$	153,614		$	154,513

During the three months ended March 31, 2024, the Company did not acquire any properties.

Intangible assets are recorded in other assets on the accompanying condensed consolidated balance sheet. The intangibles of the properties are amortized over the remaining lease terms that they were derived from. As a result, the Company's intangibles have a weighted average amortization period of approximately 13 years. As of March 31, 2024 and December 31, 2023, the Company did not recognize any impairment on its real estate investments.