Note 3 - Deferred Costs and Intangible Assets

3 Months Ended

Mar. 31, 2026

Deferred Costs and Intangible Assets Disclosure [Text Block]

3. Deferred Costs and Intangible Assets

Deferred costs and intangible assets consist of the following:

	March 31, 2026			December 31, 2025

Deferred costs	$	348		$	348
Lease origination costs		1,905			1,842
In-place leases		428			428
Real estate tax abatements		9,143			9,143
Total deferred costs and intangible assets		11,824			11,761
Less accumulated amortization		(6,590	)		(6,435	)
Total deferred costs and intangible assets, net	$	5,234		$	5,326

Amortization of deferred costs, lease origination costs and in-place lease intangible assets was $35 and $26 for the three months ended March 31, 2026 and 2025, respectively. Amortization of real estate tax abatements of $120 and $120 for the three months ended March 31, 2026 and 2025, respectively, is included in real estate taxes and insurance in the consolidated statements of operations.

Deferred costs and intangible assets as of March 31, 2026, amortize in future years as follows:

2026	$	465
2027		612
2028		586
2029		566
2030		525
Thereafter		2,480
Total	$	5,234