INTANGIBLE ASSETS - NET |
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Jun. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| INTANGIBLE ASSETS - NET | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| INTANGIBLE ASSETS - NET |
Intangible assets – net consist of the following as of June 30, 2025 and December 31, 2024:
Amortization expense was $672,829 and $537,235 for the three months ended June 30, 2025, and 2024, respectively, and $1,398,279 and $1,002,339 for the six months ended June 30, 2025, and 2024, respectively. Above market lease amortization of $15,680 and $15,680 was included as an adjustment to rental revenues in the consolidated statement of operations for the three months ended June 30, 2025, and 2024, respectively, and $31,422 and $31,422 for the six months ended June 30, 2025 and 2024, respectively. The following table represents the weighted average remaining useful lives of the intangible assets as of June 30, 2025, and June 30, 2024:
The following sets forth future annual amortization for acquisition-related intangibles for the next five years ended December 31 and thereafter:
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