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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, 2025December 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 license2,957 2,957 
Total intangible assets, net$3,458 $3,568 
Amortization of the acquired above-market leases is recorded as a reduction to rental and other property income, and amortization of the acquired in-place leases is included in depreciation and amortization in the accompanying consolidated statements of operations. Amortization of the acquired below-market leases is recorded as an increase to rental and other property income in the accompanying consolidated statements of operations.
During the three and six months ended June 30, 2025 and 2024, the Company recognized amortization related to its intangible assets and liabilities as follows (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Acquired above-market lease amortization$— $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 
2026123 
2027123 
2028122 
202972 
Thereafter— 
$501