| Schedule of Intangible Lease Assets and Liabilities |
Intangible lease assets and liabilities consisted of the following as of June 30, 2025 and December 31, 2024 (in thousands, except weighted average life remaining): | | | | | | | | | | | | | June 30, 2025 | | December 31, 2024 | Intangible lease assets: | | | | In-place leases and other intangibles, net of accumulated amortization of $54,771 and $51,282, respectively (with a weighted average life remaining of 10.6 years and 11.8 years, respectively) | | | | | $ | 103,956 | | | $ | 88,698 | | Acquired above-market leases, net of accumulated amortization of $4,143 and $3,213, respectively (with a weighted average life remaining of 6.9 years and 10.6 years, respectively) | | | | | 16,992 | | | 3,447 | | | Total intangible lease assets, net | $ | 120,948 | | | $ | 92,145 | | | Intangible lease liabilities: | | | | Acquired below-market leases, net of accumulated amortization of $6,574 and $6,036, respectively (with a weighted average life remaining of 10.7 years and 11.2 years, respectively) | | | | | $ | 11,389 | | | $ | 11,812 | |
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| Schedule of Amortization Expense Related to the Intangible Lease Assets |
The following table summarizes the amortization related to the intangible lease assets and liabilities for the three and six months ended June 30, 2025 and 2024 (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | 2025 | | 2024 | | 2025 | | 2024 | | In-place lease and other intangible amortization | $ | 3,265 | | | $ | 2,635 | | | $ | 6,141 | | | $ | 5,330 | | | Above-market lease amortization | $ | 831 | | | $ | 106 | | | $ | 1,344 | | | $ | 212 | | | Below-market lease amortization | $ | 269 | | | $ | 281 | | | $ | 538 | | | $ | 566 | |
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| Schedule of Estimated Amortization Relating to the Intangible Lease Assets and Liabilities |
As of June 30, 2025, the estimated amortization relating to the intangible lease assets and liabilities is as follows (in thousands): | | | | | | | | | | | | | | | | | | | | | | | Amortization | | | In-Place Leases and
Other Intangibles | | Above-Market Leases | | Below-Market Leases | | Remainder of 2025 | | $ | 5,923 | | | $ | 1,808 | | | $ | 538 | | | 2026 | | 11,129 | | | 3,712 | | | 1,077 | | | 2027 | | 10,843 | | | 3,672 | | | 1,077 | | | 2028 | | 9,846 | | | 3,350 | | | 1,077 | | | 2029 | | 8,909 | | | 2,671 | | | 1,077 | | | Thereafter | | 57,306 | | | 1,779 | | | 6,543 | | | Total | | $ | 103,956 | | | $ | 16,992 | | | $ | 11,389 | |
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