Intangibles (Tables)

12 Months Ended

Dec. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Gross Carrying Amount and Accumulated Amortization

The gross carrying amount and accumulated amortization of the Company's intangible assets consisted of the following as of the dates indicated ($ in thousands):


		December 31, 2025				December 31, 2024
Intangible assets:
In-place lease intangibles		$	72,857			$	36,313
Above-market lease intangibles			2,415				1,338
Total intangible assets			75,272				37,651
Accumulated amortization:
In-place lease amortization			(11,369	)			(4,672	)
Above-market lease amortization			(339	)			(138	)
Total real estate intangible assets, net		$	63,564			$	32,841
Intangible liabilities
Below-market lease intangibles		$	(25,638	)		$	(10,855	)
Total intangible liabilities			(25,638	)			(10,855	)
Accumulated amortization:
Below-market lease amortization			2,217				1,014
Total real estate intangible liabilities, net		$	(23,421	)		$	(9,841	)

Summary of Estimated Future Amortization

The estimated future amortization on the Company's intangibles for each of the next five years and thereafter as of December 31, 2025, is as follows ($ in thousands):


		In-Place Lease Intangibles				Above-Market Intangibles				Below-Market Intangibles
2026			8,005				318				(2,047	)
2027			6,880				318				(2,047	)
2028			6,862				318				(2,038	)
2029			6,830				318				(2,021	)
2030			6,612				318				(1,951	)
Thereafter			26,299				486				(13,317	)
		$	61,488			$	2,076			$	(23,421	)