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v3.25.2

Real Estate (Intangible Assets and Liabilities) (Details) - USD ($) | 3 Months Ended | 6 Months Ended |
--- | --- | --- | ---
Jun. 30, 2025 | Jun. 30, 2024 | Jun. 30, 2025 | Jun. 30, 2024 | Dec. 31, 2024
Intangible lease liabilities (included in other liabilities): |  |  |  |  |
Below-market in-place leases | $ 36,488,000 |  | $ 36,488,000 |  | $ 39,869,000
Less: accumulated amortization | (27,694,000) |  | (27,694,000) |  | (28,946,000)
Below-market in-place leases, net | 8,794,000 |  | 8,794,000 |  | 10,923,000
Above-market in-place leases, net |  |  |  |  |
Intangible lease assets (included in other assets): |  |  |  |  |
Leases | 14,350,000 |  | 14,350,000 |  | 14,753,000
Less: accumulated amortization | (10,961,000) |  | (10,961,000) |  | (12,159,000)
Leases, net | 3,389,000 |  | 3,389,000 |  | 2,594,000
In-place leases ,net |  |  |  |  |
Intangible lease assets (included in other assets): |  |  |  |  |
Leases | 114,383,000 |  | 114,383,000 |  | 116,549,000
Less: accumulated amortization | (81,539,000) |  | (81,539,000) |  | (85,741,000)
Leases, net | 32,844,000 |  | 32,844,000 |  | $ 30,808,000
Intangible lease liabilities (included in other liabilities): |  |  |  |  |
Amortization expense, in-place leases | 3,879,000 | $ 1,583,000 | 5,267,000 | $ 3,230,000 |
Above-market and below-market in-place leases |  |  |  |  |
Intangible lease liabilities (included in other liabilities): |  |  |  |  |
Amortization expense, above- and below-market leases | $ 1,620,000 | $ 125,000 | $ 1,713,000 | $ 242,000 |

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