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Intangible Assets and Liabilities (Tables)
 12 Months Ended
Dec. 31, 2024
Intangible Assets And Liabilities  
Schedule of Intangible Assets And Liabilities

The following table summarizes our intangible assets and liabilities (amounts in thousands):

 

   December 31, 
   2024   2023 
   Gross Carrying Amount   Accumulated Amortization   Net Carrying Amount   Gross Carrying Amount   Accumulated Amortization   Net Carrying Amount 
Finite-Lived Intangible Assets                              
In-place leases  $2,871   $(1,188)  $1,683   $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   $(1,188)  $7,342   $9,172   $(1,699)  $7,473 
                               
Finite-Lived Intangible Liabilities                              
Below-market leases  $(1,743)  $518   $(1,225)  $(2,100)  $776   $(1,324)
Total intangible liabilities  $(1,743)  $518   $(1,225)  $(2,100)  $776   $(1,324)
Schedule of Annual Net Amortization of Intangibles

Based on the intangible assets and liabilities recorded as of December 31, 2024, scheduled annual net amortization of intangibles for the next five calendar years and thereafter is as follows (amounts in thousands):

 

Years Ending December 31, 

Increase in

Rental Revenue

  

Increase to

Amortization

   Net 
2025  $(80)  $114   $34 
2026   (80)   114    34 
2027   (80)   114    34 
2028   (80)   114    34 
2029   (80)   114    34 
Thereafter   (825)   1,113    288 
   $(1,225)  $1,683   $458