Deferred Costs and Other Assets, net

3 Months Ended

Mar. 31, 2026

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Deferred Costs and Other Assets, net

Deferred Costs and Other Assets, net

Deferred costs and other assets, net, are composed of the following:

	March 31,		December 31,
	2026		2025
Lease origination costs, net	$	3,598,000	$	3,660,000
Right-of-use assets	2,019,000		2,020,000
Prepaid expenses	1,189,000		1,835,000
Total other assets and deferred charges, net	$	6,806,000	$	7,515,000

Deferred costs are amortized over the terms of the related agreements. Amortization expense related to deferred costs amounted to $0.2 million and $0.2 million for the three months ended March 31, 2026 and 2025, respectively. The unamortized balances of deferred lease origination costs are net of accumulated amortization of $6.7 million and $6.8 million at March 31, 2026 and December 31, 2025, respectively.