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INTANGIBLE ASSETS AND LIABILITIES, NET (Tables)
6 Months Ended
Jun. 30, 2025
Intangible Assets and Liabilities Disclosure [Abstract]  
Schedule of Finite-Lived Intangible Assets and Liabilities
Intangible assets and liabilities, net are summarized as follows:
June 30, 2025
(unaudited)
December 31, 2024
Intangible assets
Acquired favorable lease intangibles$22,943 $70,375 
Less: Accumulated amortization(9,769)(29,664)
Acquired favorable lease intangibles, net13,174 40,711 
Acquired customer relationships 1,907 1,907 
Less: Accumulated amortization(632)(413)
Acquired customer relationships, net1,275 1,494 
Total intangible assets, net$14,449 $42,205 
Intangible liabilities
Acquired unfavorable lease intangibles$9,911 $13,767 
Less: Accumulated amortization(1,473)(1,259)
Acquired unfavorable lease intangibles, net$8,438 $12,508 
Schedule of Amortization of Intangible Assets and Liabilities
Amortization of intangible assets and liabilities is recorded as follows (unaudited):
Classification in Consolidated Statements of OperationsThree Months Ended June 30,Six Months Ended June 30,
2025202420252024
Lease intangiblesLease income$2,153 $3,786 $5,359 $7,762 
Customer relationshipsDepreciation and amortization124 95 219 212 
Total$2,277 3,881 $5,578 7,974 
Schedule of Net Annual Amortization of Intangibles
As of June 30, 2025, estimated net annual amortization of intangibles is as follows (unaudited):
Remainder of 2025$1,807 
20261,435 
2027949 
20281,512 
2029547 
Thereafter(239)
Total$6,011