v3.25.4
Intangible Assets and Liabilities (Tables)
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Finite-Lived Intangible Assets
The following table summarizes the Company’s identified intangible assets and intangible liabilities, included in intangible assets, net and other liabilities on the accompanying consolidated balance sheets as of December 31, 2025 and 2024.
As of December 31,
20252024
Intangible Assets:
Acquired in-place lease$548 $548 
Acquired above market lease97 97 
Accumulated amortization(481)(440)
Intangible assets, net$164 $205 
Intangible liabilities:
Acquired below market leases$929 $929 
Accumulated amortization(917)(909)
Intangible liabilities, net$12 $20 
Finite-Lived Intangible Assets Amortization Expense
The following table summarizes the amortization related to acquired above and below market lease costs and acquired in-place lease intangibles for the years ended December 31, 2025 and 2024.
Year ended December 31,
20252024
Amortization of:
Acquired above market lease$(15)$(15)
Acquired below market lease8 14 
Net revenues increase$(7)$(1)
Acquired in-place lease intangibles$26 $317 
The following table presents the amortization during the next five years and thereafter related to intangible assets and liabilities as of December 31, 2025.
20262027202820292030ThereafterTotal
Amortization of:
Acquired above market lease$(15)$(15)$(15)$(14)$(3)$— $(62)
Acquired below market lease4 4 4 — — — 12 
Net revenues increase$(11)$(11)$(11)$(14)$(3)$— $(50)
Acquired in-place lease intangibles$26 $26 $26 $22 $2 $— $102 
Below Market Lease, Future Amortization Income
The following table summarizes the amortization related to acquired above and below market lease costs and acquired in-place lease intangibles for the years ended December 31, 2025 and 2024.
Year ended December 31,
20252024
Amortization of:
Acquired above market lease$(15)$(15)
Acquired below market lease8 14 
Net revenues increase$(7)$(1)
Acquired in-place lease intangibles$26 $317 
The following table presents the amortization during the next five years and thereafter related to intangible assets and liabilities as of December 31, 2025.
20262027202820292030ThereafterTotal
Amortization of:
Acquired above market lease$(15)$(15)$(15)$(14)$(3)$— $(62)
Acquired below market lease4 4 4 — — — 12 
Net revenues increase$(11)$(11)$(11)$(14)$(3)$— $(50)
Acquired in-place lease intangibles$26 $26 $26 $22 $2 $— $102