v3.26.1
Deferred Leasing Costs and Other Intangibles
 6 Months Ended
Jun. 30, 2026
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Deferred Leasing Costs and Other Intangibles Deferred Leasing Costs and Other Intangibles
The Company’s deferred leasing costs, other intangible assets and intangible liabilities, excluding those related to assets held for sale at June 30, 2026 and December 31, 2025 are as follows (dollars in thousands):
June 30, 2026
Carrying AmountAccumulated AmortizationNet Carrying Amount
Deferred Leasing Costs and Intangible Assets
In-place lease values$23,905 $(23,248)$657 
Deferred leasing costs12,884 (9,286)3,598 
Above-market lease values7,324 (7,242)82 
$44,113 $(39,776)$4,337 
December 31, 2025
Carrying AmountAccumulated AmortizationNet Carrying Amount
Deferred Leasing Costs and Intangible Assets
In-place lease values$52,028 $(32,762)$19,266 
Deferred leasing costs20,499 (12,836)7,663 
Above-market lease values8,517 (7,800)717 
$81,044 $(53,398)$27,646 
Intangible Liabilities
Below-market lease values$776 $(387)$389 

The following table summarizes the amortization of deferred leasing costs, intangible assets and intangible liabilities for the three and six months ended June 30, 2026 and 2025 (dollars in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Above-market lease values$(3)$(297)$(6)$(679)
Below-market lease values— 296 2 619 
Net decrease to property operating income$(3)$(1)$(4)$(60)
In-place lease values$2,285 $2,558 $4,575 $5,398 
Deferred leasing costs318 610 640 1,236 
Amortization expense$2,603 $3,168 $5,215 $6,634