Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Useful Lives of Depreciable Assets

Depreciation expense is computed using the straight-line method based on the following useful lives: 

	Years
Buildings and Improvements	3 to 50
Land Improvements	1 to 25
Furniture, Fixtures and Equipment	3 to 5
Tenant Improvements	Lease Term

Summary of Deferred Leasing Intangibles

Deferred leasing intangibles, net of accumulated amortization, included in our total assets and total liabilities consist of the following: 

	December 31, 2022		December 31, 2021
In-Place Leases	$	19,373	$	15,428
Above Market Leases	1,319		1,621
Below Market Ground Lease Obligation	1,462		1,507
Tenant Relationships	1,936		2,760
Total Included in Total Assets, Net of $28,590 and $24,933 of Accumulated Amortization	$	24,090	$	21,316
Below Market Leases	$	15,152	$	9,252
Total Included in Total Liabilities, Net of $18,004 and $15,040 of Accumulated Amortization	$	15,152	$	9,252

Future Amortization Expense Related to Deferred Leasing Intangibles

We will recognize net amortization expense related to deferred leasing intangibles over the next five years for properties owned as of December 31, 2022 as follows: 

	Estimated Amortization of In-Place Leases and Tenant Relationships		Estimated Net Increase to Rental Revenues Related to Above and Below Market Leases
2023	$	6,127	$	3,746
2024	$	4,449	$	3,074
2025	$	3,265	$	2,283
2026	$	2,316	$	1,613
2027	$	1,540	$	1,196