v3.26.1
REAL ESTATE INVESTMENTS (Tables)
 6 Months Ended
Jun. 30, 2026
Real Estate [Abstract]  
Schedule of Asset and Rental Income Concentration
As of June 30, 2026 and December 31, 2025, the Company’s real estate portfolio asset concentration (greater than 10% of total assets) was as follows (dollars in thousands):
June 30, 2026December 31, 2025
Property and LocationNet Carrying ValuePercentage of
Total Assets		Net Carrying ValuePercentage of
Total Assets
KIA retail property, Carson, CA$64,671 13.3 %$65,202 13.7 %
During the three and six months ended June 30, 2026 and 2025, the Company’s rental income concentration (greater than 10% of rental income) was as follows (dollars in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Property and LocationRental RevenuePercentage of
Total Rental Revenue		Rental RevenuePercentage of
Total Rental Revenue		Rental IncomePercentage of
Total Rental Income		Rental IncomePercentage of
Total Rental Income
Lindsay, nine industrial properties - CO (three), OH (two), PA, NC, SC and FL
$1,656 14.2 %$1,661 14.1 %$3,312 14.2 %$3,322 14.1 %
KIA retail property - CA$1,317 11.3 %$1,250 10.6 %$2,583 11.0 %$2,521 10.7 %
Schedule of Rental Payments for Operating Leases
As of June 30, 2026, the future minimum contractual rent payments due to the Company under the Company’s non-cancellable operating leases are as follows (in thousands):
Amount
July through December 2026$19,432 
202739,002 
202839,394 
202938,829 
203038,805 
Thereafter473,353 
$648,815 
Schedule of Intangible Assets
As of June 30, 2026 and December 31, 2025, intangible assets, net related to the Company’s real estate, excluding any intangible assets, net related to properties classified as held for sale, were as follows (in thousands):
June 30, 2026December 31, 2025
Tenant Origination and Absorption CostsAbove-Market Lease IntangiblesBelow-Market Lease IntangiblesTenant Origination and Absorption CostsAbove-Market Lease IntangiblesBelow-Market Lease Intangibles
Cost$13,540 $1,560 $(14,408)$13,638 $1,559 $(14,408)
Accumulated amortization(8,695)(418)7,804 (9,824)(390)7,341 
Net amount$4,845 $1,142 $(6,604)$3,814 $1,169 $(7,067)
Schedule of Intangible Assets Amortization
As of June 30, 2026, amortization of intangible assets for each of the next five years and thereafter is expected to be as follows (dollars in thousands):
Tenant
Origination and
Absorption Costs		Above-Market Lease IntangiblesBelow-Market Lease Intangibles
July through December 2026$337 $27 $(463)
2027673 54 (926)
2028654 54 (916)
2029558 54 (876)
2030547 54 (876)
Thereafter2,076 899 (2,547)
$4,845 $1,142 $(6,604)
Weighted-average remaining amortization period8.3 years21.2 years7.4 years
Schedule of Dispositions and Real Estate Investments Held for Sale The following table summarizes the major components of assets and liabilities related to real estate investments held for sale as of December 31, 2025 (in thousands):
December 31, 2025
Assets related to real estate investments held for sale:
Land, buildings and improvements$4,310 
Accumulated depreciation and amortization(409)
Real estate investments held for sale, net3,901