v3.26.1
Note 5 - Lease Intangibles
 3 Months Ended
Mar. 31, 2026
Notes to Financial Statements  
Intangible Asset [Text Block] 5. LEASE INTANGIBLES

 

The following table summarizes the net value of other intangible assets acquired and the accumulated amortization for each class of intangible asset:

 

  

March 31, 2026

  

December 31, 2025

 
  

Lease Intangibles

  

Accumulated Amortization

  

Lease Intangibles, net

  

Lease Intangibles

  

Accumulated Amortization

  

Lease Intangibles, net

 

In-place leases

 $932,175  $(931,029) $1,146  $2,377,414  $(2,375,580) $1,834 

Leasing costs

  468,427   (467,006)  1,421   1,090,384   (1,088,114)  2,270 
  $1,400,602  $(1,398,035) $2,567  $3,467,798  $(3,463,694) $4,104 

 

At  March 31, 2026 and  December 31, 2025, there were no gross lease intangible assets and accumulated amortization related to the lease intangible assets included in real estate assets held for sale.

 

The net value of acquired intangible liabilities was approximately $2,073 and $3,316 relating to below-market leases at  March 31, 2026 and  December 31, 2025, respectively.

 

Future aggregate approximate amortization expense for the Company's lease intangible assets is as follows:

 

Years ending December 31:

    

2026

 $2,567 

2027

  — 

Total

 $2,567