Note 4 - Intangibles (Tables)

3 Months Ended

Mar. 31, 2025

Schedule Of Intangible Assets And Liabilities [Abstract]

Summary of Carrying Amount of Intangible Assets and Liabilities

The following is a summary of the carrying amount of the Company’s intangible assets and liabilities as of March 31, 2025 and December 31, 2024.


(in thousands)		March 31, 2025				December 31, 2024
Assets:
Above-market leases		$	4,153			$	4,153
Above-market leases accumulated amortization			(3,166	)			(3,038	)
In-place leases			28,814				28,814
In-place leases accumulated amortization			(23,326	)			(22,771	)
Total real estate intangible assets, net		$	6,475			$	7,158

Liabilities
Below-market leases		$	3,099			$	3,099
Below-market leases accumulated amortization			(2,822	)			(2,778	)
Total real estate intangible liabilities, net		$	277			$	321

Summary of Expected Amortization of Real Estate Intangible Assets Liabilities

The following table represents expected amortization of existing real estate intangible assets and liabilities as of March 31, 2025:


(in thousands)	Amortization of in-place leases				Amortization of above-market leases				Amortization of below-market leases				Total amortization, net
Remainder of 2025	$	1,469			$	322			$	(99	)		$	1,692
2026		1,433				253				(83	)			1,603
2027		933				167				(44	)			1,056
2028		503				112				(26	)			589
2029		383				80				(14	)			449
2030		287				23				(11	)			299
Thereafter		480				30				-				510
Total	$	5,488			$	987			$	(277	)		$	6,198