Significant Accounting Policies (Tables)
|
6 Months Ended |
Jun. 30, 2025 |
|---|
| Accounting Policies [Abstract] |
|
| Schedule of Intangible Assets and Liabilities |
As of June 30, 2025 and December 31, 2024, the Company’s intangible assets and liabilities, including properties held for sale (if any), consisted of the following (dollars in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2025 | | December 31, 2024 | | | Gross | | Accumulated
Amortization | | Net | | Gross | | Accumulated
Amortization | | Net | | In-place leases | $ | 211,451 | | | $ | (121,581) | | | $ | 89,870 | | | $ | 203,386 | | | $ | (111,927) | | | $ | 91,459 | | | Above-market leases | 4,652 | | | (3,550) | | | 1,102 | | | 5,089 | | | (3,723) | | | 1,366 | | | Below-market leases | (212,127) | | | 79,476 | | | (132,651) | | | (185,995) | | | 69,453 | | | (116,542) | | | Total | $ | 3,976 | | | $ | (45,655) | | | $ | (41,679) | | | $ | 22,480 | | | $ | (46,197) | | | $ | (23,717) | |
|
| Schedule of Depreciation and Useful Lives of Real Estate and Intangible Assets |
The following table reflects the standard depreciable lives typically used to compute depreciation and amortization. However, such depreciable lives may be different based on the estimated useful life of such assets or liabilities. | | | | | | | | | | Description | | Standard Depreciable Life | | Land | | Not depreciated | | Building | | 40 years | | Building Improvements | | 5-40 years | | Tenant Improvements | | Shorter of lease term or useful life | | Leasing Costs | | Lease term | | In-place Leases | | Lease term | | Above/Below-Market Leases | | Lease term |
|
| Schedule of Cash and Cash Equivalents and Restricted Cash |
The following summarizes the reconciliation of cash and cash equivalents and restricted cash as presented in the accompanying consolidated statements of cash flows (dollars in thousands): | | | | | | | | | | | | | | | For the Six Months Ended June 30, | | 2025 | | 2024 | | | | Beginning | | | | | | Cash and cash equivalents at beginning of period | $ | 18,070 | | | $ | 165,400 | | | | | Restricted cash | 282 | | | 836 | | | | | Cash and cash equivalents and restricted cash | 18,352 | | | 166,236 | | | | | Ending | | | | | | Cash and cash equivalents at end of period | 128,368 | | | 181,989 | | | | | Restricted cash | 467 | | | 461 | | | | | Cash and cash equivalents and restricted cash | 128,835 | | | 182,450 | | | | | Net increase in cash and cash equivalents and restricted cash | $ | 110,483 | | | $ | 16,214 | | | |
|
| Schedule of Cash and Cash Equivalents and Restricted Cash |
The following summarizes the reconciliation of cash and cash equivalents and restricted cash as presented in the accompanying consolidated statements of cash flows (dollars in thousands): | | | | | | | | | | | | | | | For the Six Months Ended June 30, | | 2025 | | 2024 | | | | Beginning | | | | | | Cash and cash equivalents at beginning of period | $ | 18,070 | | | $ | 165,400 | | | | | Restricted cash | 282 | | | 836 | | | | | Cash and cash equivalents and restricted cash | 18,352 | | | 166,236 | | | | | Ending | | | | | | Cash and cash equivalents at end of period | 128,368 | | | 181,989 | | | | | Restricted cash | 467 | | | 461 | | | | | Cash and cash equivalents and restricted cash | 128,835 | | | 182,450 | | | | | Net increase in cash and cash equivalents and restricted cash | $ | 110,483 | | | $ | 16,214 | | | |
|