INTANGIBLE ASSETS AND LIABILITIES (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| Goodwill and Intangible Assets Disclosure [Abstract] |
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| Schedule of components of intangible lease assets and liabilities |
| | | | | | | | | As of | | | June 30,
2026 | | December 31,
2025 | Intangible Lease Assets: | | | | | | | Value of In-Place Leases | | $ | 94,980 | | $ | 99,346 | Value of Above Market In-Place Leases | | | 19,145 | | | 23,052 | Value of Intangible Leasing Costs | | | 30,961 | | | 29,963 | Sub-total Intangible Lease Assets | | | 145,086 | | | 152,361 | Accumulated Amortization | | | (61,295) | | | (67,651) | Sub-total Intangible Lease Assets—Net | | | 83,791 | | | 84,710 | Intangible Lease Liabilities: | | | | | | | Value of Below Market In-Place Leases | | | (42,333) | | | (42,144) | Sub-total Intangible Lease Liabilities | | | (42,333) | | | (42,144) | Accumulated Amortization | | | 10,761 | | | 10,658 | Sub-total Intangible Lease Liabilities—Net | | | (31,572) | | | (31,486) | Total Intangible Assets and Liabilities—Net | | $ | 52,219 | | $ | 53,224 |
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| Schedule of net amortization of intangible assets and liabilities |
| | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | | 2026 | | 2025 | | 2026 | | 2025 | Amortization Expense | | $ | 6,006 | | $ | 6,287 | | $ | 12,300 | | $ | 12,316 | Accretion to Income Properties Revenue | | | (699) | | | (267) | | | (1,609) | | | (716) | Net Amortization of Intangible Assets and Liabilities | | $ | 5,307 | | $ | 6,020 | | $ | 10,691 | | $ | 11,600 |
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| Schedule of estimated future amortization expense (income) related to net intangible assets and liabilities |
The estimated future amortization expense (income) related to net intangible assets and liabilities is as follows (in thousands): | | | | | | | | | | As of June 30, 2026 | | Future Amortization Expense | | Future Accretion to Income Property Revenue | | Net Future Amortization of Intangible Assets and Liabilities | Remainder of 2026 | | $ | 10,895 | | $ | (1,617) | | $ | 9,278 | 2027 | | | 17,726 | | | (2,644) | | | 15,082 | 2028 | | | 12,581 | | | (2,556) | | | 10,025 | 2029 | | | 8,425 | | | (2,490) | | | 5,935 | 2030 | | | 6,689 | | | (2,091) | | | 4,598 | 2031 | | | 5,595 | | | (2,132) | | | 3,463 | 2032 and Thereafter | | | 12,853 | | | (9,015) | | | 3,838 | Total | | $ | 74,764 | | $ | (22,545) | | $ | 52,219 |
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