Intangibles (Tables)

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Gross Carrying Amount and Accumulated Amortization of Intangibles Assets and Liabilities

The gross carrying amount and accumulated amortization of the Company’s intangible assets and liabilities, not fully amortized, consisted of the following ($ in thousands):

	June 30, 2024			December 31, 2023
Intangible assets:
In-place lease intangibles	$	17,928		$	8,007
Above-market lease intangibles		2,174			2,037
Total intangible assets		20,102			10,044
Accumulated amortization:
In-place lease amortization		(1,201	)		(543	)
Above-market lease amortization		(282	)		(132	)
Total accumulated amortization		(1,483	)		(675	)
Intangible assets, net	$	18,619		$	9,369
Intangible liabilities:
Below-market lease intangibles	$	(3,159	)	$	(1,830	)
Accumulated amortization:
Below-market lease amortization		216			146
Intangible liabilities, net	$	(2,943	)	$	(1,684	)

Schedule of Estimated Future Amortization Intangibles

The estimated future amortization on the Company’s intangibles for each of the next five years and thereafter as of June 30, 2024 is as follows ($ in thousands):

	In-place Lease Intangibles		Above-market Lease Intangibles		Below-market Lease Intangibles
2024 (remaining)	$	1,234	$	172	$	(137	)
2025		2,412		330		(274	)
2026		2,371		320		(274	)
2027		2,328		320		(274	)
2028		2,299		289		(273	)
Thereafter		6,083		461		(1,711	)
Total	$	16,727	$	1,892	$	(2,943	)