XML 42 R15.htm IDEA: XBRL DOCUMENT
v3.25.4

Intangible Assets, Liabilities, and Deferred Leasing Costs | 12 Months Ended
--- | ---
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Intangible Assets, Liabilities, and Deferred Leasing Costs | Intangible Assets, Liabilities, and Deferred Leasing Costs The following table summarizes the Company's intangible assets, intangible liabilities, and deferred leasing costs:
| As of December 31
| 2025 |  | 2024
Intangible assets: |  |  |
In-place leases | $ | 289,721 |  |  | $ | 216,175 |
Above-market leases | 16,970 |  |  | 16,053 |
Intangible assets | 306,691 |  |  | 232,228 |
Accumulated amortization: |  |  |
In-place leases | (104,186) |  |  | (87,104) |
Above-market leases | (8,542) |  |  | (7,704) |
Accumulated amortization | (112,728) |  |  | (94,808) |
Intangible assets, net | $ | 193,963 |  |  | $ | 137,420 |
Intangible liabilities: |  |  |
Below-market leases | $ | 91,953 |  |  | $ | 65,776 |
Accumulated amortization | (23,478) |  |  | (22,879) |
Intangible liabilities, net | $ | 68,475 |  |  | $ | 42,897 |
Deferred leasing costs: |  |  |
Leasing costs | $ | 26,410 |  |  | $ | 25,132 |
Accumulated amortization | (10,170) |  |  | (8,993) |
Deferred leasing costs, net | $ | 16,240 |  |  | $ | 16,139 |
The following table summarizes the amortization related to intangible assets, intangible liabilities, and deferred leasing costs:
| Year ended December 31
| 2025 |  | 2024 |  | 2023
Intangible assets: |  |  |  |  |
In-place leases | $ | 36,655 |  |  | $ | 28,133 |  |  | $ | 32,179 |
Above-market leases | 2,309 |  |  | 2,452 |  |  | 2,977 |
Amortization of intangible assets | $ | 38,964 |  |  | $ | 30,585 |  |  | $ | 35,156 |
Intangible liabilities: |  |  |  |  |
Amortization of below-market leases | $ | 6,273 |  |  | $ | 4,879 |  |  | $ | 5,976 |
Deferred leasing costs: |  |  |  |  |
Amortization of deferred leasing costs | $ | 3,153 |  |  | $ | 3,213 |  |  | $ | 2,691 |
The following table summarizes the amortization during the next five years and thereafter related to intangible assets, intangible liabilities, and deferred leasing costs as of December 31, 2025:
Year ending December 31, |  | In-place leases |  | Above-market leases |  | Below-market leases |  | Deferred leasing costs
2026 |  | $ | 37,418 |  |  | $ | 2,080 |  |  | $ | 6,987 |  |  | $ | 2,628 |
2027 |  | 29,831 |  |  | 1,600 |  |  | 6,198 |  |  | 2,386 |
2028 |  | 24,941 |  |  | 1,236 |  |  | 5,705 |  |  | 2,109 |
2029 |  | 19,212 |  |  | 868 |  |  | 5,271 |  |  | 1,852 |
2030 |  | 15,375 |  |  | 737 |  |  | 5,082 |  |  | 1,583 |
Thereafter |  | 58,758 |  |  | 1,907 |  |  | 39,232 |  |  | 5,682 |
Total |  | $ | 185,535 |  |  | $ | 8,428 |  |  | $ | 68,475 |  |  | $ | 16,240 |

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration