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Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2022

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,
2023	​	$	2,999	​
2024	​		2,591	​
2025	​		1,938	​
2026	​		1,761	​
2027	​		415	​
2028 and thereafter	​		482	​

​

Schedule of estimated annual amortization for unfavorable leases

​

​	​	​	​	​
(in thousands)		December 31,
2023	​	$	74	​
2024	​		56	​
2025	​		24	​
2026	​		15	​
2027	​		7	​
2028 and thereafter	​		19	​

​

Schedule of Cash and cash equivalents

​

​	​	​	​	​	​	​
​		December 31,			December 31,
(in thousands)	​	2022		​	2021
Cash and cash equivalents	​	$	3,739	​	$	34,308
Restricted cash	​		2,893	​		6,443
Total cash, cash equivalents and restricted cash	​	$	6,632	​	$	40,751

​

Schedule of estimated annual amortization for deferred leasing commissions

​

​	​	​	​	​
(in thousands)		December 31,
2023		$	7,254	​
2024			5,174	​
2025			4,313	​
2026			3,602	​
2027			3,206	​
2028 and thereafter			12,160	​

​

Summary of rental revenue

​

​	​	​	​	​	​	​	​	​	​	​
​	​	Year Ended
​	​	December 31,
(in thousands)		2022			2021			2020
Income from leases	​	$	107,990	​	$	148,705	​	$	180,899	​
Reimbursable expenses	​		49,736	​		54,825	​		61,310	​
Straight-line rent adjustment	​		5,895	​		4,017	​		1,685	​
Amortization of favorable and unfavorable leases	​		118	​		34	​		313	​
​	​	$	163,739	​	$	207,581	​	$	244,207	​

​

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- Definition

Tabular disclosure of the estimated aggregate amortization for deferred leasing commissions for each of the five succeeding fiscal years.

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Tabular disclosure of the useful life of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale.

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Tabular disclosure of entity-wide revenues from external customers for each product or service or each group of similar products or services if the information is not provided as part of the reportable operating segment information.

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