Intangibles (Tables)

6 Months Ended

Jun. 30, 2026

Intangible Asset, Goodwill and Other [Abstract]

Schedule of Gross Carrying Amount and Accumulated Amortization of Intangibles Assets and Liabilities

The gross carrying amount and accumulated amortization of the Company’s intangible assets and liabilities consisted of the following ($ in thousands):


	June 30, 2026		December 31, 2025
Intangible assets:
In-place lease intangibles	$	97,244	$	77,750
Above-market lease intangibles	7,127		3,124
Total intangible assets	104,371		80,874
Accumulated amortization:
In-place lease amortization	(29,781)		(21,448)
Above-market lease amortization	(1,145)		(878)
Total accumulated amortization	(30,926)		(22,326)
Intangible assets, net	$	73,445	$	58,548
Intangible liabilities:
Below-market lease intangibles	$	(11,575)	$	(11,522)
Accumulated amortization:
Below-market lease amortization	4,440		3,087
Intangible liabilities, net	$	(7,135)	$	(8,435)

Schedule of Estimated Future Amortization Intangibles

The estimated future amortization on the Company’s intangibles for each of the next five years and thereafter as of June 30, 2026 is as follows ($ in thousands):


	In-place Lease Intangibles		Above-market Lease Intangibles		Below-market Lease Intangibles
2026 (remaining)	$	6,928	$	589	$	(1,040)
2027	12,264		1,171		(1,595)
2028	10,835		1,136		(1,331)
2029	9,342		1,039		(789)
2030	8,318		895		(671)
Thereafter	19,776		1,152		(1,709)
Total	$	67,463	$	5,982	$	(7,135)