Note 4 - Intangibles (Tables)

3 Months Ended

Mar. 31, 2024

Schedule Of Intangible Assets And Liabilities [Abstract]

Summary of Carrying Amount of Intangible Assets and Liabilities

The following is a summary of the carrying amount of the Company’s intangible assets and liabilities as of March 31, 2024 and December 31, 2023.

(in thousands)	March 31, 2024			December 31, 2023
Assets:
Above-market leases	$	4,153		$	4,153
Above-market leases accumulated amortization		(2,631	)		(2,469	)
In-place leases		29,108			29,221
In-place leases accumulated amortization		(20,860	)		(20,094	)
Total real estate intangible assets, net	$	9,770		$	10,811
Liabilities
Below-market leases	$	3,146		$	3,146
Below-market leases accumulated amortization		(2,594	)		(2,513	)
Total real estate intangible liabilities, net	$	552		$	633

Summary of Expected Amortization of Real Estate Intangible Assets Liabilities

The following table represents expected amortization of existing real estate intangible assets and liabilities as of March 31, 2024:

(in thousands)	Amortization of in-place leases		Amortization of above-market leases		Amortization of below-market leases			Total amortization, net
Remainder of 2024	$	1,980	$	396	$	(202	)	$	2,174
2025		2,069		449		(161	)		2,357
2026		1,479		253		(91	)		1,641
2027		962		167		(47	)		1,082
2028		520		112		(26	)		606
2029		390		80		(14	)		456
Thereafter		848		65		(11	)		902
Total	$	8,248	$	1,522	$	(552	)	$	9,218