XML 40 R25.htm IDEA: XBRL DOCUMENT v3.21.4

LEASE INTANGIBLES (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2021

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

SCHEDULE OF FINITE-LIVED INTANGIBLE ASSETS

The following table summarizes the net value of other intangible assets acquired and the accumulated amortization for each class of intangible asset:

SCHEDULE OF FINITE-LIVED INTANGIBLE ASSETS 

		September 30, 2021												December 31, 2020
		Lease Intangibles				Accumulated Amortization				Lease Intangibles, net				Lease Intangibles				Accumulated Amortization				Lease Intangibles, net
In-place leases		$	2,515,264			$	(2,320,045	)		$	195,219			$	3,136,587			$	(2,757,530	)		$	379,057
Leasing costs			1,261,390				(1,146,572	)			114,818				1,730,656				(1,510,559	)			220,097
Above-market leases			333,485				(333,485	)			—				333,485				(291,421	)			42,064
		$	4,110,139			$	(3,800,102	)		$	310,037			$	5,200,728			$	(4,559,510	)		$	641,218

Lease intangibles consist of the following:

 SCHEDULE OF FINITE-LIVED INTANGIBLE ASSETS

		December 31, 2020												December 31, 2019
		Lease				Accumulated				Lease				Lease				Accumulated				Lease
		Intangibles				Amortization				Intangibles, net				Intangibles				Amortization				Intangibles, net
In-place leases		$	3,136,587			$	(2,757,530	)		$	379,057			$	4,360,027			$	(3,283,027	)		$	1,077,000
Leasing costs			1,730,656				(1,510,559	)			220,097				2,937,976				(2,002,711	)			935,265
Above-market leases			333,485				(291,421	)			42,064				333,485				(240,739	)			92,746
		$	5,200,728			$	(4,559,510	)		$	641,218			$	7,631,488			$	(5,526,477	)		$	2,105,011

SCHEDULE OF FINITE-LIVED INTANGIBLE ASSETS, FUTURE AMORTIZATION EXPENSE

Future aggregate approximate amortization expense for the Company’s lease intangible assets is as follows:

SCHEDULE OF FINITE-LIVED INTANGIBLE ASSETS, FUTURE AMORTIZATION EXPENSE 

2021		$	52,866
2022			202,342
2023			17,526
2024			17,526
2025			15,670
Thereafter			4,107
Total		$	310,037

Aggregate approximate amortization expense for the Company’s lease intangible assets is as follows:

SCHEDULE OF FINITE-LIVED INTANGIBLE ASSETS, FUTURE AMORTIZATION EXPENSE

2021			$	372,484
2022				202,479
2023				17,663
2024				17,663
2025				17,663
Thereafter				13,266
Total			$	641,218

X

- References

No definition available.

+ Details

Name:	us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275

+ Details

Name:	us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275

+ Details

Name:	us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration