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Schedule III - Real Estate and Accumulated Depreciation - Summary of Changes in Total Real Estate and Accumulated Depreciation (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Cost    
Balance at beginning of period $ 253,125 $ 181,725
Acquisitions 149,956 68,087
Capitalized costs 7,021 3,313
Balance at end of period 410,102 [1] 253,125
Accumulated Depreciation    
Balance at beginning of period 21,620 9,625
Depreciation and amortization 16,988 11,995
Balance at end of period $ 38,608 [1],[2] $ 21,620
[1] The changes in total real estate and accumulated depreciation and amortization for the years ended December 31, 2022 and 2021 is as follows:

 

 

 

For the year ended December 31,

 

(in thousands)

 

2022

 

 

2021

 

Cost

 

 

 

 

 

 

Balance at beginning of period

 

$

253,125

 

 

$

181,725

 

Acquisitions

 

 

149,956

 

 

 

68,087

 

Capitalized costs

 

 

7,021

 

 

 

3,313

 

Balance at end of period

 

$

410,102

 

 

$

253,125

 

 

 

 

 

 

 

 

Accumulated depreciation and amortization

 

 

 

 

 

 

Balance at beginning of period

 

$

21,620

 

 

$

9,625

 

Depreciation and amortization

 

 

16,988

 

 

 

11,995

 

Balance at end of period

 

$

38,608

 

 

$

21,620

 

[2] The cost of building and improvements is depreciated on a straight-line basis over the estimated useful lives of the buildings and improvements, ranging primarily from 5 to 49 years. The cost of intangible lease assets and liabilities is amortized on a straight-line basis over the initial term of the related leases, ranging up to 19 years. See Note 2 to the consolidated financial statements for information on useful lives used for depreciation and amortization.