v3.26.1
Intangible Assets and Liabilities (Tables)
 6 Months Ended
Jun. 30, 2026
Intangible Asset, Goodwill and Other [Abstract]  
Schedule of Intangible Assets At June 30, 2026, and December 31, 2025, intangible assets included the following ($ in thousands):
20262025
In-place leases, net of accumulated amortization of $132,098 and $136,277
in 2026 and 2025, respectively
$148,048 $135,606 
Below-market ground leases, net of accumulated amortization of $2,995 and
$2,854 in 2026 and 2025, respectively
16,256 16,398 
Above-market leases, net of accumulated amortization of $23,007 and $23,949
in 2026 and 2025, respectively
9,906 11,060 
Goodwill1,674 1,674 
$175,884 $164,738 
Schedule of Intangible Liabilities At June 30, 2026, and December 31, 2025, intangible liabilities were the following ($ in thousands):
20262025
Below-market leases, net of accumulated amortization of $50,886 and $61,343 in 2026 and 2025, respectively
$121,790 $117,085 
Schedule of Amortization of Intangible Assets and Liabilities
The amortization of the above assets and liabilities are recorded as follows ($ in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Revenues:
Rental property revenues, net (Below-market and Above-market leases)$4,260 $2,804 $8,360 $5,626 
Expenses:
Depreciation and amortization (In-place leases)6,933 5,438 13,747 11,318 
Rental property operating and other expenses (Below-market ground leases)71 71 150 141 
Schedule of Aggregate Amortization of Intangible Assets and Liabilities
Over the next five years and thereafter, aggregate amortization of these intangible assets and liabilities is anticipated to be as follows ($ in thousands):
In-Place 
Leases		Below-Market Ground LeasesAbove-Market LeasesBelow-Market
Leases
2026 (six months)$12,250 $141 $1,147 $(7,801)
202721,954 282 1,839 (14,981)
202820,440 282 1,728 (14,607)
202918,308 282 1,460 (13,809)
203015,927 282 1,265 (12,216)
203113,934 282 966 (11,421)
Thereafter45,235 14,705 1,501 (46,955)
$148,048 $16,256 $9,906 $(121,790)