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Intangible Assets and Liabilities | 6 Months Ended
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Jun. 30, 2024
Intangible Assets And Liabilities |
Intangible Assets and Liabilities | Note 6 – Intangible Assets and Liabilities Intangible assets and liabilities are summarized as follows (amounts in thousands): Schedule of Intangible Assets And Liabilities
|  | June 30, 2024 |  |  | December 31, 2023 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
|  | (unaudited) |  |  | (unaudited) |  |  | (unaudited) |  |  |  |  |  |  |  |  |  |
Finite-Lived Intangible Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
In-place leases |  | $ | 2,871 |  |  | $ | (1,128 | ) |  | $ | 1,743 |  |  | $ | 3,513 |  |  | $ | (1,699 | ) |  | $ | 1,814 |
Indefinite-Lived Intangible Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Development rights |  |  | 5,659 |  |  |  | — |  |  |  | 5,659 |  |  |  | 5,659 |  |  |  | — |  |  |  | 5,659 |
Total intangible assets |  | $ | 8,530 |  |  | $ | (1,128 | ) |  | $ | 7,402 |  |  | $ | 9,172 |  |  | $ | (1,699 | ) |  | $ | 7,473 |
Finite-Lived Intangible Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Below-market leases |  | $ | (1,743 | ) |  | $ | 475 |  |  | $ | (1,268 | ) |  | $ | (2,100 | ) |  | $ | 776 |  |  | $ | (1,324 | )
Total intangible liabilities |  | $ | (1,743 | ) |  | $ | 475 |  |  | $ | (1,268 | ) |  | $ | (2,100 | ) |  | $ | 776 |  |  | $ | (1,324 | )
In-place leases and development rights intangible assets, noted above, are included in Intangible assets on the consolidated balance sheets. Below-market lease liabilities, noted above, are included in Lease liabilities on the consolidated balance sheets. Amortization of in-place lease intangible assets was less than $0.1 million and $0.5 million for the three months ended June 30, 2024 and 2023, respectively, and $0.1 million and $0.8 million for the six months ended June 30, 2024 and 2023, respectively, and is included in Depreciation and amortization in the consolidated statements of operations. Amortization of below-market lease liabilities was less than $0.1 million and $0.4 million for the three months ended June 30, 2024 and 2023, respectively, and $0.1 million and $0.6 million for the six months ended June 30, 2024 and 2023, respectively, and is included in Rental revenue in the consolidated statements of operations.

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