Lease Incentives (Tables)

12 Months Ended

Dec. 31, 2024

Lease Incentives

Summary of non-contingent lease incentive activity

Our non-contingent lease incentive balances at December 31, 2024 and 2023 were $3,522,000 and $2,607,000, respectively. The following table summarizes our non-contingent lease incentive activity for the years ended

December 31, 2024, 2023 and 2022 (in thousands):

	Year Ended December 31,
		2024			2023			2022
Lease incentives funded	$	1,924		$	1,627		$	418
Amortization of lease incentives		(818)			(773)			(877)
Adjustment for collectability of lease incentives		—			(26)	(2)		(256)	(2)
Other adjustments		(191)	(1)		(10)	(1)		(174)	(1)
Net increase in non-contingent lease incentives	$	915		$	818		$	(889)

(1) Represents lease incentive balances written-off due to property sales.

(2) Represents uncollectible lease incentive balances written-off.