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Real Estate Transactions (Tables)
 12 Months Ended
Dec. 31, 2025
Real Estate [Abstract]  
Schedule of Asset Acquisition The following table summarizes the Company's real estate acquisition activity for the year ended December 31, 2024, which was accounted for as asset acquisitions (dollars in thousands).
2024
Number of properties acquired1
1
Contract price
$29,666 
Total price of acquisitions2
$29,826 
1 The 2024 acquisition was structured as a partial like-kind exchange in accordance with Code §1031.
3 Total price of acquisition includes transaction costs and closing costs and credits.
The aggregate purchase price of the assets acquired during the year ended December 31, 2024, was allocated as follows (in thousands):
Fair value of assets acquired2024
Assets acquired:
Land$8,723 
Property and improvements20,978 
In-place leases1,051 
Total assets acquired$30,752 
Liabilities assumed:
Unfavorable leases$926 
Total liabilities assumed$926 
Net assets acquired$29,826 
Schedule of Real Estate Disposition Activity The following table summarizes the real estate disposition activity for the year ended December 31, 2024 (dollars in thousands).
2024
Number of properties disposed1
Contract Price$14,250 
Gain/(loss) on disposal1
$51 
1 As of December 31, 2023, this property met the criteria for classification as held for sale and accordingly, was measured at its fair value less costs to sell, resulting in an impairment charge of $2.2 million for the year ended December 31, 2023. The Company recognized a gain on disposal of $0.1 million when the property was sold during the year ended December 31, 2024.
The following table presents information related to the major classes of assets and liabilities that were classified as held for sale in the consolidated balance sheet as of December 31, 2025 (in thousands):

2025
Assets:
Real estate investments
Real estate property$11,026 
Accumulated depreciation(2,860)
Real estate property, net8,166 
Real estate investments, net8,166 
Straight-line rent receivable35 
Prepaid expenses and other assets72 
Total Assets held for sale$8,273 
Liabilities:
Accrued and other liabilities$49 
Total Liabilities associated with assets held for sale1
$49 
1Liabilities associated with assets held for sale is presented in Accrued and other liabilities on the Consolidated Balance Sheets as of December 31, 2025.

The following table summarizes income (loss) from discontinued operations included in the Consolidated Statements of Operations for the three years ended December 31, 2025, 2024, and 2023, (in thousands):
2025
20242023
Revenue$— $— $201,162 
Cost of sales1
— (62)(178,115)
Selling, general, and administrative1
(44)(3,404)(15,753)
Gain (loss) on disposal of assets, net— — (13,242)
Operating income (loss) from discontinued operations1
(44)(3,466)(5,948)
Income (loss) related to joint ventures— — (1,465)
Interest and other income (expense), net— — 77 
Interest expense— — (496)
Income (loss) from discontinued operations before income taxes1
(44)(3,466)(7,832)
Income tax benefit (expense) attributable to discontinued operations129 — (15)
Income (loss) from discontinued operations1
85 (3,466)(7,847)
Loss (income) attributable to discontinued noncontrolling interest— — (3,151)
Income (loss) from discontinued operations attributable to A&B Shareholders1
$85 $(3,466)$(10,998)
1Includes zero, $3.5 million, and $0.1 million in costs associated with the resolution of liabilities from the Company’s former sugar operations for the years ended December 31, 2025, 2024, and 2023, respectively.
Schedule of Intangible Assets
Real estate intangible assets, net and other intangible assets included in Prepaid expenses and other assets as of December 31, 2025 and 2024, were as follows (in thousands):
20252024
In-place leases$72,064 $73,624 
Favorable leases14,314 14,363 
Accumulated amortization of in-place leases(50,493)(47,544)
Accumulated amortization of favorable leases(10,201)(9,267)
Real estate intangible assets, net$25,684 $31,176 
Other intangible assets$594 $594 
Accumulated amortization of other intangible assets(594)(594)
Other intangible assets, net$— $— 
Schedule of Estimated Future Amortization Expenses Estimated amortization expenses related to intangible assets over the next five years are as follows (in thousands):
Estimated
Amortization
2026$3,697 
20273,506 
20282,782 
20292,486 
20302,448