DEFERRED COSTS

12 Months Ended

Dec. 31, 2024

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

DEFERRED COSTS

6. DEFERRED COSTS

As of December 31, 2024 and 2023, the Company’s deferred costs were comprised of the following (in thousands):

	December 31, 2024
	Total Cost		Accumulated Amortization		Deferred Costs, net
Leasing costs	$	153,557	$	(70,998)	$	82,559
Financing costs - Unsecured Credit Facility	4,688		(2,930)		1,758
Total	$	158,245	$	(73,928)	$	84,317

	December 31, 2023
	Total Cost		Accumulated Amortization		Deferred Costs, net
Leasing costs	$	164,274	$	(71,220)	$	93,054
Financing costs - Unsecured Credit Facility	4,688		(1,758)		2,930
Total	$	168,962	$	(72,978)	$	95,984

During the years ended December 31, 2024, 2023 and 2022, the Company capitalized internal direct leasing costs of $2.0 million, $1.8 million, and $3.0 million, respectively.