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Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2024
Significant Accounting Policies |
Fair value of assets acquired at consolidation of VIE | ​
​ | ​ | ​
(in thousands) | ​ | ​
​ | ​ | ​
Real estate assets | $ | 19,695
Value of acquired real estate leases | ​ | 305
Total | $ | 20,000
Quantitative information about significant unobservable inputs of Level 3 measurement | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Fair Value (1) at |  | ​ |  | Significant |  | Range | ​ | Weighted
Description | ​ | January 1, 2023 | ​ | Valuation Technique | ​ | Unobservable Input | ​ | Min | ​ | Max |  | Average (2)
​ | ​ | ​ | (in thousands) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Monument Circle Consolidation | ​ | $ | 20,000 |  | Discounted Cash Flows | ​ | Exit Cap Rate |  | 7.50 | % | ​ | 7.50 | % | ​ | 7.50 | %
​ | ​ | ​ | ​ | ​ | ​ | ​ | Discount Rate | ​ | 9.50 | % | ​ | 9.50 | % | ​ | 9.50 | %
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(1) Classified within Level 3 of the fair value hierarchy. | ​
(2) Unobservable inputs were weighted based on the fair value of the related instrument. | ​
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, |
2025 | ​ | $ | 1,718 | ​
2026 | ​ |  | 1,644 | ​
2027 | ​ |  | 389 | ​
2028 | ​ |  | 300 | ​
2029 | ​ |  | 125 | ​
2030 and thereafter | ​ |  | 29 | ​
Schedule of estimated annual amortization for unfavorable leases | ​
​ | ​ | ​ | ​ | ​
(in thousands) |  | December 31, |
2025 | ​ | $ | 10 | ​
2026 | ​ |  | 8 | ​
2027 | ​ |  | 8 | ​
2028 | ​ |  | 6 | ​
2029 | ​ |  | 6 | ​
2030 and thereafter | ​ |  | 7 | ​
Schedule of Cash and cash equivalents | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31, |  | December 31,
(in thousands) | ​ | 2024 | ​ | 2023
Cash and cash equivalents (1) | ​ | $ | 41,121 | ​ | $ | 125,530
Restricted cash | ​ |  | 1,562 | ​ |  | 2,350
Total cash, cash equivalents and restricted cash | ​ | $ | 42,683 | ​ | $ | 127,880
​ | ​ | ​ | ​ | ​ | ​ | ​
(1) Includes $1,314 and $2,167 at December 31, 2024 and 2023, respectively, pertaining to Monument Circle, which the Company is unable to utilize for its own operational purposes.
Schedule of estimated annual amortization for deferred leasing commissions | ​
​ | ​ | ​ | ​ | ​
(in thousands) |  | December 31, |
2025 |  | $ | 4,374 | ​
2026 |  |  | 3,706 | ​
2027 |  |  | 3,244 | ​
2028 |  |  | 2,797 | ​
2029 |  |  | 2,324 | ​
2030 and thereafter |  |  | 6,496 | ​
Summary of rental revenue | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended |
​ | ​ | December 31, |
(in thousands) |  | 2024 |  | 2023 |  | 2022 |
Income from leases | ​ | $ | 86,563 | ​ | $ | 103,716 | ​ | $ | 107,990 | ​
Reimbursable expenses | ​ |  | 35,469 | ​ |  | 42,311 | ​ |  | 49,736 | ​
Straight-line rent adjustment | ​ |  | (1,970) | ​ |  | (626) | ​ |  | 5,895 | ​
Amortization of favorable and unfavorable leases | ​ |  | 18 | ​ |  | 45 | ​ |  | 118 | ​
​ | ​ | $ | 120,080 | ​ | $ | 145,446 | ​ | $ | 163,739 | ​

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