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Other Assets and Intangibles, net (Tables)

9 Months Ended

Sep. 30, 2025

Other Assets [Abstract]

Components of Other Assets and Intangibles

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

Summary of Amortization Expense Related to the Intangibles

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