Note 5 - Intangibles (Tables)

12 Months Ended

Dec. 31, 2019

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 December 31, 2019 (dollars in thousands). The Company did not have any intangible assets and liabilities as of December 31, 2018.

	December 31, 2019
Assets:
Above-market leases	$	2,636
Above-market leases accumulated amortization		(6	)
In-place leases		17,586
In-place leases accumulated amortization		(59	)
Total net real estate intangible assets	$	20,157
Liabilities
Below-market leases		3,451
Below-market leases accumulated amortization		(12	)
Total net real estate intangible liabilities	$	3,439

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 December 31, 2019 (dollars in thousands):

	Amortization of in-place leases		Amortization of above-market leases		Amortization of below-market leases			Total amortization, net
2020	$	4,659	$	490	$	(915	)	$	4,234
2021		3,303		464		(784	)		2,983
2022		2,764		440		(684	)		2,520
2023		2,275		387		(524	)		2,138
2024		1,503		255		(326	)		1,432
Thereafter		3,023		594		(206	)		3,411
Total	$	17,527	$	2,630	$	(3,439	)	$	16,718