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INTANGIBLE ASSETS

9 Months Ended

Sep. 30, 2025

INTANGIBLE ASSETS

INTANGIBLE ASSETS

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6.     INTANGIBLE ASSETS

Intangible assets consist of the following as of September 30, 2025 and December 31, 2024 (in thousands):

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As of September 30, 2025

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Useful Life

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Gross Value

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Accumulated Amortization

​

Net Carrying Value

​

Weighted Average Remaining Useful Life

Management services agreements

​

17-21 years

​

$

17,100

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$

(759)

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$

16,341

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18.3 years

Trade name

​

5 years

​

​

2,590

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​

(418)

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​

2,172

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4.3 years

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​

​

​

$

19,690

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$

(1,177)

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$

18,513

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As of December 31, 2024

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​

Useful Life

​

Gross Value

​

Accumulated Amortization

​

Net Carrying Value

​

Weighted Average Remaining Useful Life

Management services agreements

​

17-21 years

​

$

17,100

​

$

(30)

​

$

17,070

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19.0 years

Trade name

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5 years

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​

2,590

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​

(54)

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​

2,536

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5.0 years

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​

​

​

$

19,690

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$

(84)

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$

19,606

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​

​

Amortization expense of intangible assets was $0.4 million and $0 for the three months ended September 30, 2025 and 2024, respectively.

Amortization expense of intangible assets was $1.1 million and $0 for the nine months ended September 30, 2025 and 2024, respectively.

Amortization expense over the remaining life of the intangible assets will be recognized as follows (in thousands):

​	​	​	​
Year		​	Amortization expense
Remainder of 2025	​	$	364
2026	​	​	1,457
2027	​	​	1,457
2028	​	​	1,457
2029	​	​	1,428
Thereafter	​	​	12,350
​	​	$	18,513

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X

- References

No definition available.

+ Details

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Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
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X

- Definition

The entire disclosure for all or part of the information related to intangible assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/350-30/tableOfContent

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482665/350-30-50-4

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482665/350-30-50-3

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 985
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481283/985-20-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 985
-SubTopic 20
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/985-20/tableOfContent

+ Details

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Namespace Prefix:	us-gaap_
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Balance Type:	na
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