Intangible Assets and Liabilities, and Leasing Fees - Schedule of Intangible Assets and Liabilities, and Leasing Fees, and Related Accumulated Amortization (Details) - USD ($) $ in Thousands |
Jun. 30, 2025 |
Dec. 31, 2024 |
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Lease intangibles: | ||
Total intangible lease assets, net | $ 256,675 | $ 267,638 |
Acquired below-market leases | 92,546 | 94,513 |
Less accumulated amortization | (47,749) | (45,782) |
Intangible lease liabilities, net | 44,797 | 48,731 |
Leasing fees | 22,150 | 21,781 |
Less accumulated amortization | (7,132) | (6,495) |
Leasing fees, net | 15,018 | 15,286 |
Acquired above-market leases | ||
Lease intangibles: | ||
Intangible lease assets, gross | 39,225 | 39,786 |
Less accumulated amortization | (19,437) | (18,599) |
Total intangible lease assets, net | 19,788 | 21,187 |
Acquired in-place leases | ||
Lease intangibles: | ||
Intangible lease assets, gross | 403,584 | 406,146 |
Less accumulated amortization | (166,697) | (159,695) |
Total intangible lease assets, net | $ 236,887 | $ 246,451 |
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- Definition Amount of accumulated amortization of leases acquired as part of a real property acquisition at below market lease rate with a finite life. No definition available.
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- Definition Amount before amortization of leases acquired as part of a real property acquisition at below market lease rate with a finite life. No definition available.
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- Definition Amount after amortization of leases acquired as part of a real property acquisition at below market lease rate with a finite life. No definition available.
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- Definition For an unclassified balance sheet, the accumulated amortization, as of the reporting date, which represents the periodic charge to earnings of initial direct costs which have been deferred and are being allocated over the lease term in proportion to the recognition of rental income. Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
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- Definition For an unclassified balance sheet, this element represents costs incurred by the lessor that are (a) costs to originate a lease incurred in transactions with independent third parties that (i) result directly from and are essential to acquire that lease and (ii) would not have been incurred had that leasing transaction not occurred and (b) certain costs directly related to specified activities performed by the lessor for that lease. Those activities are: evaluating the prospective lessee's financial condition; evaluating and recording guarantees, collateral, and other security arrangements; negotiating lease terms; preparing and processing lease documents; and closing the transaction. This amount is before considering accumulated amortization representing the periodic charge to earnings to recognize the deferred costs over the term of the related lease. Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
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- Definition This element represents costs incurred by the lessor that are (a) costs to originate a lease incurred in transactions with independent third parties that (i) result directly from and are essential to acquire that lease and (ii) would not have been incurred had that leasing transaction not occurred and (b) certain costs directly related to specified activities performed by the lessor for that lease. Those activities are: evaluating the prospective lessee's financial condition; evaluating and recording guarantees, collateral, and other security arrangements; negotiating lease terms; preparing and processing lease documents; and closing the transaction. This element is net of accumulated amortization. Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
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- Definition Accumulated amount of amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount before amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount after amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- References No definition available.
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