v3.26.1
INTANGIBLE ASSETS AND LIABILITIES (Tables)
 6 Months Ended
Jun. 30, 2026
Intangible Asset, Goodwill and Other [Abstract]  
Schedule of Intangible Assets and Liabilities
As of June 30, 2026 and December 31, 2025, the Company’s intangible assets/liabilities were comprised of the following (in thousands):
June 30, 2026
Total CostAccumulated AmortizationIntangible Assets, net
Intangible assets, net:
In-place lease value$24,422 $(10,646)$13,776 
Tenant relationship value110 (63)47 
Above market leases acquired75 (66)9 
Total intangible assets, net$24,607 $(10,775)$13,832 
Total CostAccumulated AmortizationIntangible Liabilities, net
Intangible liabilities, net:
Below market leases acquired$21,333 $(8,978)$12,355 
December 31, 2025
Total CostAccumulated AmortizationIntangible Assets, net
Intangible assets, net:
In-place lease value$24,949 $(8,099)$16,850 
Tenant relationship value110 (61)49 
Above market leases acquired5,599 (72)5,527 
Total intangible assets, net$30,658 $(8,232)$22,426 
Total CostAccumulated AmortizationIntangible Liabilities, net
Intangible liabilities, net:
Below market leases acquired$21,333 $(8,620)$12,713 
Schedule of Amortization for Intangible Assets and Liabilities
As of June 30, 2026, the Company’s annual amortization for its intangible assets/liabilities, assuming no early lease terminations, was as follows (dollars in thousands):
AssetsLiabilities
2026 (six months remaining)$2,103 $358 
20271,246 688 
2028929 603 
2029929 603 
2030929 603 
Thereafter7,696 9,500 
Total$13,832 $12,355