XML 25 R14.htm IDEA: XBRL DOCUMENT
v3.25.2

OTHER INTANGIBLE ASSETS AND LIABILITIES | 6 Months Ended
--- | ---
Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
OTHER INTANGIBLE ASSETS AND LIABILITIES | 6. OTHER INTANGIBLE ASSETS AND LIABILITIES A schedule of the Company’s intangible assets and liabilities and related accumulated amortization and accretion as of June 30, 2025 and December 31, 2024 is as follows (in thousands):
| June 30, 2025 |  | December 31, 2024
Intangible assets: |  |  |
Acquired in-place leases, net of accumulated amortization of $1,812 and $5,195, respectively, with an average useful life of 2 and 6 years, respectively. | $ | 501 |  |  | $ | 610 |
Acquired above-market leases, net of accumulated amortization of $0 and $36, respectively, with an average useful life of 0 and 7 years, respectively. | — |  |  | 1 |
Trade name and license | 2,957 |  |  | 2,957 |
Total intangible assets, net | $ | 3,458 |  |  | $ | 3,568 |
Amortization of the acquired above-market leases is recorded as a reduction to rental and other property income, and amortization of the acquired in-place leases is included in depreciation and amortization in the accompanying consolidated statements of operations. Amortization of the acquired below-market leases is recorded as an increase to rental and other property income in the accompanying consolidated statements of operations. During the three and six months ended June 30, 2025 and 2024, the Company recognized amortization related to its intangible assets and liabilities as follows (in thousands):
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
|  | 2025 |  | 2024 |  | 2025 |  | 2024
Acquired above-market lease amortization |  | $ | — |  |  | $ | 1 |  |  | $ | 1 |  |  | $ | 3 |
Acquired in-place lease amortization |  | $ | 30 |  |  | $ | 93 |  |  | $ | 109 |  |  | $ | 187 |
A schedule of future amortization and accretion of acquired intangible assets and liabilities as of June 30, 2025, is as follows (in thousands):
|  |  |  | Assets |  |
Years Ending December 31, |  |  |  | Acquired In-Place Leases |  |
2025 (Six months ending December 31, 2025) |  |  |  | $ | 61 |  |  |
2026 |  |  |  | 123 |  |  |
2027 |  |  |  | 123 |  |  |
2028 |  |  |  | 122 |  |  |
2029 |  |  |  | 72 |  |  |
Thereafter |  |  |  | — |  |  |
|  |  |  | $ | 501 |  |  |

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 The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-4 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-3 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 985 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481283/985-20-50-2 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 985 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/985-20/tableOfContent + Details
Name: | us-gaap_IntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration