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Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

Significant Accounting Policies

Schedule of estimated useful lives of real estate assets

​

​	​	​	​	​	​
Category		Years
Commercial buildings		​	39	​	​
Building improvements		15	-	39	​
Fixtures and equipment		3	-	7	​

Schedule of estimated annual amortization expense for succeeding five years for acquired in-place lease and above-market leases

​

​	​	​	​	​
(in thousands)		December 31,
2022	​	$	3,882	​
2023	​		3,211	​
2024	​		2,870	​
2025	​		2,196	​
2026	​		1,789	​
2027 and thereafter	​		986	​

Schedule of estimated annual amortization for unfavorable leases

​

​	​	​	​	​
(in thousands)		December 31,
2022	​	$	161	​
2023	​		104	​
2024	​		93	​
2025	​		60	​
2026	​		31	​
2027 and thereafter	​		79	​

Schedule of Cash and cash equivalents

​

​	​	​	​	​	​	​
​		December 31,			December 31,
(in thousands)	​	2021		​	2020
Cash and cash equivalents	​	$	34,308	​	$	2,650
Restricted cash	​		6,443	​		1,500
Total cash, cash equivalents and restricted cash	​	$	40,751	​	$	4,150

Schedule of estimated annual amortization for deferred leasing commissions

​

​	​	​	​	​
(in thousands)		December 31,
2022		$	6,504	​
2023			6,081	​
2024			5,299	​
2025			4,377	​
2026			3,586	​
2027 and thereafter			12,464	​

Summary of rental revenue

​

​	​	​	​	​	​	​	​	​	​	​
​	​	Year Ended
​	​	December 31,
(in thousands)		2021			2020			2019
Income from leases	​	$	148,705	​	$	180,899	​	$	191,828	​
Reimbursable expenses	​		54,825	​		61,310	​		64,421	​
Straight-line rent adjustment	​		4,017	​		1,685	​		8,876	​
Amortization of favorable and unfavorable leases	​		34	​		313	​		402	​
​	​	$	207,581	​	$	244,207	​	$	265,527	​

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