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Other Assets and Intangibles, net

9 Months Ended

Sep. 30, 2025

Other Assets [Abstract]

Other Assets and Intangibles, net

3.

Other Assets and Intangibles, net

Other assets and intangibles consist of the following (in thousands):


	September 30, 2025
	Asset				Accumulated Amortization				Net
Intangible assets, net:
In-place leases	$	28,130			$	(21,308	)		$	6,822
Above-market leases		2,075				(1,793	)			282
Lease origination costs		3,231				(2,537	)			694
Tenant relationships		12,489				(9,690	)			2,799
Total intangible assets, net		45,925				(35,328	)			10,597
Operating lease ROU assets										14,986
Other assets:
Prepaid expenses										5,312
Other assets										1,228
Deposits										1,806
Total other assets, net									$	33,929
	Liability				Accumulated Amortization				Net
Below-market leases	$	9,144			$	(2,695	)		$	6,449


	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

Amortization for the three and nine months ended September 30, 2025 and 2024 related to the Company’s intangibles was as follows (in thousands):


Period		Income				Expense
Three months ended September 30, 2025		$	123			$	598
Three months ended September 30, 2024			488				1,701
Nine months ended September 30, 2025			429				2,070
Nine months ended September 30, 2024			1,270				6,582