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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, 2024
Dec. 31, 2023
Cost    
Balance at beginning of period $ 373,935 $ 410,102
Acquisitions 0 0
Dispositions and write off (952) (44,774)
Capitalized costs 2,241 8,607
Balance at end of period 375,224 [1] 373,935
Accumulated Depreciation    
Balance at beginning of period 49,377 38,608
Depreciation and amortization 15,075 18,967
Dispositions and write off (323) (8,198)
Balance at end of period $ 64,129 [1],[2] $ 49,377
[1] The changes in total real estate and accumulated depreciation and amortization for the years ended December 31, 2024 and 2023 is as follows:

 

 

 

For the year ended December 31,

 

(in thousands)

 

2024

 

 

2023

 

Cost

 

 

 

 

 

 

Balance at beginning of period

 

$

373,935

 

 

$

410,102

 

Acquisitions

 

 

 

 

 

 

Dispositions and write off

 

 

(952

)

 

 

(44,774

)

Capitalized costs

 

 

2,241

 

 

 

8,607

 

Balance at end of period

 

$

375,224

 

 

$

373,935

 

 

 

 

 

 

 

 

Accumulated depreciation and amortization

 

 

 

 

 

 

Balance at beginning of period

 

$

49,377

 

 

$

38,608

 

Depreciation and amortization

 

 

15,075

 

 

 

18,967

 

Dispositions and write off

 

 

(323

)

 

 

(8,198

)

Balance at end of period

 

$

64,129

 

 

$

49,377

 

[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.