v3.25.2
Intangible Assets and Liabilities (Tables)
 6 Months Ended
Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets At June 30, 2025 and December 31, 2024, intangible assets included the following ($ in thousands):
20252024
In-place leases, net of accumulated amortization of $142,452 and $135,945
in 2025 and 2024, respectively
$128,386 $139,704 
Below-market ground leases, net of accumulated amortization of $2,713 and
$2,572 in 2025 and 2024, respectively
16,539 16,681 
Above-market leases, net of accumulated amortization of $24,850 and $24,190
in 2025 and 2024, respectively
12,557 13,930 
      Goodwill1,674 1,674 
$159,156 $171,989 
Schedule of Intangible Liabilities At June 30, 2025 and December 31, 2024, intangible liabilities were the following ($ in thousands):
20252024
Below-market leases, net of accumulated amortization of $63,416 and $56,982 in 2025 and 2024, respectively
$104,223 $111,221 
Schedule of Amortization of Intangible Asset and Liabilities
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Revenues:
Rental property revenues, net (Below-market and Above-market leases)$2,804 $1,558 $5,626 $3,019 
Expenses:
Depreciation and amortization (In-place leases)5,438 5,963 11,318 10,364 
Rental property operating and other expenses (Below-market ground leases)71 71 141 171 
Schedule of Aggregate Amortization of Intangible Assets and Liabilities
Over the next five years and thereafter, aggregate amortization of these intangible assets and liabilities is anticipated to be as follows ($ in thousands):
In-Place 
Leases		Below-Market Ground LeasesAbove-Market LeasesBelow-Market
Leases
2025 (six months)$10,318 $141 $1,292 $(6,744)
202619,344 282 2,287 (12,532)
202716,816 282 1,877 (10,997)
202813,994 282 1,765 (9,850)
202912,593 282 1,496 (9,446)
Thereafter55,321 15,270 3,840 (54,654)
$128,386 $16,539 $12,557 $(104,223)