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Lease Intangible Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2025

Real Estate [Abstract]

Summary of Lease Intangible Assets

The following tables summarize the Company’s lease intangible assets (acquired in-place leases and above-market leases) and liabilities (acquired below-market leases, which is included in accounts payable, accrued expenses and other liabilities on the consolidated balance sheets), net of accumulated amortization, as of December 31, 2025 and 2024 (in thousands):


December 31, 2025
		Gross				Accumulated
Lease Intangible Assets		Asset				Amortization				Balance
In-place leases, net		$	294			$	(123	)		$	171
Total		$	294			$	(123	)		$	171


December 31, 2024
Lease Intangible Assets		Gross Asset				Accumulated Amortization				Balance
In-place leases, net		$	2,858			$	(1,838	)		$	1,020
Above-market leases, net			534				(507	)			27
Total		$	3,392			$	(2,345	)		$	1,047

Summary of Lease Intangible Liabilities


		Gross				Accumulated
Lease Intangible Liabilities		Liability				Amortization				Balance
Below-market leases, net		$	(1,168	)		$	489			$	(679	)
Total		$	(1,168	)		$	489			$	(679	)


		Gross				Accumulated
Lease Intangible Liabilities		Liability				Amortization				Balance
Below-market leases, net		$	(1,865	)		$	785			$	(1,080	)
Total		$	(1,865	)		$	785			$	(1,080	)

Schedule of Future Amortization of Acquired Leases

Future amortization of these lease intangibles is set forth below (in thousands):


		Below market leases, net				Below market ground lease				In-place leases
2026		$	47			$	203			$	12
2027			47				203				12
2028			46				203				12
2029			46				203				12
2030			47				203				12
Thereafter			446				8,621				111