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Note 3 - Deferred Costs and Intangible Assets

6 Months Ended

Jun. 30, 2026

Deferred Costs and Intangible Assets Disclosure [Text Block]

3. Deferred Costs and Intangible Assets

Deferred costs and intangible assets consist of the following:

	June 30, 2026			December 31, 2025

Deferred costs	$	348		$	348
Lease origination costs		1,977			1,842
In-place leases		428			428
Real estate tax abatements		9,143			9,143
Total deferred costs and intangible assets		11,896			11,761
Less accumulated amortization		(6,744	)		(6,435	)
Total deferred costs and intangible assets, net	$	5,152		$	5,326

Amortization of deferred costs, lease origination costs and in-place lease intangible assets was $34 and $25 for the three months ended June 30, 2026 and 2025, respectively, and $68 and $51 for the six months ended June 30, 2026 and 2025, respectively; Amortization of real estate tax abatements of $121 and $121 for the three months ended June 30, 2026 and 2025, respectively, and $241 and $241 for the six months ended June 30, 2026 and 2025, is included in real estate taxes and insurance in the consolidated statements of operations.

Deferred costs and intangible assets as of June 30, 2026, amortize in future years as follows:

2026	$	312
2027		619
2028		602
2029		573
2030		540
Thereafter		2,506
Total	$	5,152