Intangibles (Tables)
|
6 Months Ended |
Jun. 30, 2026 |
|---|
| Intangible Asset, Goodwill and Other [Abstract] |
|
| Intangible Asset, Finite-Lived |
The gross carrying amount and accumulated amortization of our intangible assets and liabilities are: | | | | | | | | | | | | | | | | | | | June 30, 2026 | | in thousands | Total Cost | | Accumulated Amortization | | Intangible Assets, net | | Intangible assets, net: | | | | | | | In-place lease intangibles | $ | 71,646 | | | $ | (39,548) | | | $ | 32,098 | | | Leasing commissions | 11,859 | | | (3,853) | | | 8,006 | | | Above-market lease intangibles | 1,951 | | | (805) | | | 1,146 | | | Total intangible assets, net | $ | 85,456 | | | $ | (44,206) | | | $ | 41,250 | | | | | | | | | Total Cost | | Accumulated Amortization | | Intangible Liabilities, net | | Intangible liabilities, net: | | | | | | | Below-market lease intangibles | $ | 11,874 | | | $ | (4,551) | | | $ | 7,323 | | | Total intangible liabilities, net | $ | 11,874 | | | $ | (4,551) | | | $ | 7,323 | |
| | | | | | | | | | | | | | | | | | | December 31, 2025 | | in thousands | Total Cost | | Accumulated Amortization | | Intangible Assets, net | | Intangible assets, net: | | | | | | | In-place lease intangibles | $ | 68,725 | | | $ | (34,418) | | | $ | 34,307 | | | Leasing commissions | 10,730 | | | (3,063) | | | 7,667 | | | Above-market lease intangibles | 1,951 | | | (718) | | | 1,233 | | | Total intangible assets, net | $ | 81,406 | | | $ | (38,199) | | | $ | 43,207 | | | | | | | | | Total Cost | | Accumulated Amortization | | Intangible Liabilities, net | | Intangible liabilities, net: | | | | | | | Below-market lease intangibles | $ | 11,875 | | | $ | (3,421) | | | $ | 8,454 | | | Total intangible liabilities, net | $ | 11,875 | | | $ | (3,421) | | | $ | 8,454 | |
|
| Schedule of Below Market Leases |
The gross carrying amount and accumulated amortization of our intangible assets and liabilities are: | | | | | | | | | | | | | | | | | | | June 30, 2026 | | in thousands | Total Cost | | Accumulated Amortization | | Intangible Assets, net | | Intangible assets, net: | | | | | | | In-place lease intangibles | $ | 71,646 | | | $ | (39,548) | | | $ | 32,098 | | | Leasing commissions | 11,859 | | | (3,853) | | | 8,006 | | | Above-market lease intangibles | 1,951 | | | (805) | | | 1,146 | | | Total intangible assets, net | $ | 85,456 | | | $ | (44,206) | | | $ | 41,250 | | | | | | | | | Total Cost | | Accumulated Amortization | | Intangible Liabilities, net | | Intangible liabilities, net: | | | | | | | Below-market lease intangibles | $ | 11,874 | | | $ | (4,551) | | | $ | 7,323 | | | Total intangible liabilities, net | $ | 11,874 | | | $ | (4,551) | | | $ | 7,323 | |
| | | | | | | | | | | | | | | | | | | December 31, 2025 | | in thousands | Total Cost | | Accumulated Amortization | | Intangible Assets, net | | Intangible assets, net: | | | | | | | In-place lease intangibles | $ | 68,725 | | | $ | (34,418) | | | $ | 34,307 | | | Leasing commissions | 10,730 | | | (3,063) | | | 7,667 | | | Above-market lease intangibles | 1,951 | | | (718) | | | 1,233 | | | Total intangible assets, net | $ | 81,406 | | | $ | (38,199) | | | $ | 43,207 | | | | | | | | | Total Cost | | Accumulated Amortization | | Intangible Liabilities, net | | Intangible liabilities, net: | | | | | | | Below-market lease intangibles | $ | 11,875 | | | $ | (3,421) | | | $ | 8,454 | | | Total intangible liabilities, net | $ | 11,875 | | | $ | (3,421) | | | $ | 8,454 | |
|
| Intangible Asset, Finite-Lived, and Capitalized Cost, Software to be Sold, Leased, or Marketed, Estimated Amortization Expense |
The estimated future amortization of our intangibles for each of the next five years and thereafter as of June 30, 2026 is: | | | | | | | | | | | | | | | | | | | | | | | | | in thousands | In-place Lease
Intangibles | | Leasing Commissions | | Above-market Lease Intangibles | | Below-market
Lease Intangibles | | 2026 (remainder) | $ | 4,733 | | | $ | 1,008 | | | $ | 89 | | | $ | (1,118) | | | 2027 | 6,795 | | | 1,575 | | | 175 | | | (2,095) | | | 2028 | 4,658 | | | 1,195 | | | 175 | | | (1,159) | | | 2029 | 4,218 | | | 1,056 | | | 164 | | | (947) | | | 2030 | 3,842 | | | 961 | | | 94 | | | (599) | | | 2031 | 5,091 | | | 1,222 | | | 94 | | | (537) | | | Thereafter | 2,761 | | | 989 | | | 355 | | | (868) | | | $ | 32,098 | | | $ | 8,006 | | | $ | 1,146 | | | $ | (7,323) | |
|
| Schedule of Below Market Lease, Future Amortization Income |
The estimated future amortization of our intangibles for each of the next five years and thereafter as of June 30, 2026 is: | | | | | | | | | | | | | | | | | | | | | | | | | in thousands | In-place Lease
Intangibles | | Leasing Commissions | | Above-market Lease Intangibles | | Below-market
Lease Intangibles | | 2026 (remainder) | $ | 4,733 | | | $ | 1,008 | | | $ | 89 | | | $ | (1,118) | | | 2027 | 6,795 | | | 1,575 | | | 175 | | | (2,095) | | | 2028 | 4,658 | | | 1,195 | | | 175 | | | (1,159) | | | 2029 | 4,218 | | | 1,056 | | | 164 | | | (947) | | | 2030 | 3,842 | | | 961 | | | 94 | | | (599) | | | 2031 | 5,091 | | | 1,222 | | | 94 | | | (537) | | | Thereafter | 2,761 | | | 989 | | | 355 | | | (868) | | | $ | 32,098 | | | $ | 8,006 | | | $ | 1,146 | | | $ | (7,323) | |
|