XML 30 R23.htm IDEA: XBRL DOCUMENT
v3.25.1

Other Assets and Intangibles, net (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2025
Other Assets [Abstract] |
Components of Other Assets and Intangibles | Other assets and intangibles consist of the following (in thousands):
| March 31, 2025 |
| Asset |  |  | Accumulated Amortization |  |  | Net |
Intangible assets, net: |  |  |  |  |  |  |  |
In-place leases | $ | 52,129 |  |  | $ | (44,426 | ) |  | $ | 7,703 |
Above-market leases |  | 3,855 |  |  |  | (3,540 | ) |  |  | 315 |
Lease origination costs |  | 5,508 |  |  |  | (4,716 | ) |  |  | 792 |
Tenant relationships |  | 22,337 |  |  |  | (19,113 | ) |  |  | 3,224 |
Total intangible assets, net |  | 83,829 |  |  |  | (71,795 | ) |  |  | 12,034 |
Operating lease ROU assets |  |  |  |  |  |  |  | 15,545 |
Other assets: |  |  |  |  |  |  |  |
Prepaid expenses |  |  |  |  |  |  |  | 7,123 |
Other assets |  |  |  |  |  |  |  | 1,206 |
Deposits |  |  |  |  |  |  |  | 1,893 |
Total other assets, net |  |  |  |  |  |  | $ | 37,801 |
| Liability |  |  | Accumulated Amortization |  |  | Net |
Below-market leases | $ | 16,034 |  |  | $ | (6,917 | ) |  | $ | 9,117 |
| December 31, 2024 |
| Asset |  |  | Accumulated Amortization |  |  | Net |
Intangible assets, net: |  |  |  |  |  |  |  |
In-place leases | $ | 53,964 |  |  | $ | (45,641 | ) |  | $ | 8,323 |
Above-market leases |  | 3,855 |  |  |  | (3,492 | ) |  |  | 363 |
Lease origination costs |  | 5,732 |  |  |  | (4,884 | ) |  |  | 848 |
Tenant relationships |  | 23,894 |  |  |  | (20,487 | ) |  |  | 3,407 |
Total intangible assets, net |  | 87,445 |  |  |  | (74,504 | ) |  |  | 12,941 |
Operating lease ROU assets |  |  |  |  |  |  |  | 15,818 |
Other assets: |  |  |  |  |  |  |  |
Prepaid expenses |  |  |  |  |  |  |  | 4,283 |
Other assets |  |  |  |  |  |  |  | 1,192 |
Deposits |  |  |  |  |  |  |  | 2,051 |
Total other assets, net |  |  |  |  |  |  | $ | 36,285 |
| Liability |  |  | Accumulated Amortization |  |  | Net |
Below-market leases | $ | 16,034 |  |  | $ | (6,728 | ) |  | $ | 9,306 |
Summary of Amortization Expense Related to the Intangibles | Amortization for the three months ended March 31, 2025 and 2024 related to the Company’s intangibles was as follows (in thousands):
Year |  | Income |  |  | Expense |
2025 |  | $ | 140 |  |  | $ | 833 |
2024 |  |  | 557 |  |  |  | 2,540 |

X
- Definition Tabular disclosure of amortization expense of assets, excluding financial assets, that lack physical substance, having a limited useful life. + References No definition available. + Details
Name: | us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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

X
- Definition Tabular disclosure of the carrying amounts of other assets. This disclosure includes other current assets and other noncurrent assets. + References No definition available. + Details
Name: | us-gaap_ScheduleOfOtherAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration