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v3.25.1

Real Estate (Intangible Assets and Liabilities) (Details) - USD ($) | 3 Months Ended |
--- | --- | ---
Mar. 31, 2025 | Mar. 31, 2024 | Dec. 31, 2024
Intangible lease liabilities (included in other liabilities): |  |  |
Below-market in-place leases | $ 39,811,000 |  | $ 39,869,000
Less: accumulated amortization | (29,168,000) |  | (28,946,000)
Below-market in-place leases, net | 10,643,000 |  | 10,923,000
Above-market in-place leases, net |  |  |
Intangible lease assets (included in other assets): |  |  |
Leases | 15,667,000 |  | 14,753,000
Less: accumulated amortization | (12,111,000) |  | (12,159,000)
Leases, net | 3,556,000 |  | 2,594,000
In-place leases ,net |  |  |
Intangible lease assets (included in other assets): |  |  |
Leases | 119,231,000 |  | 116,549,000
Less: accumulated amortization | (86,913,000) |  | (85,741,000)
Leases, net | 32,318,000 |  | $ 30,808,000
Intangible lease liabilities (included in other liabilities): |  |  |
Amortization expense, in-place leases | 1,388,000 | $ 1,647,000 |
Above-market and below-market in-place leases |  |  |
Intangible lease liabilities (included in other liabilities): |  |  |
Amortization expense, above- and below-market leases | $ 93,000 | $ 117,000 |

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