A schedule of the Company’s intangible assets and related accumulated amortization and accretion as of June 30, 2026 and December 31, 2025, is as follows (in thousands):




	June 30, 2026		December 31, 2025

Intangible assets:
Acquired in-place leases, net of accumulated amortization of $925 and $1,874, respectively, with an average useful life of 11 and 2 years, respectively.	$	378	$	439

Amortization of acquired above-market leases, if any, is recorded as a reduction to rental and other property income, and amortization of acquired in-place leases is included in depreciation and amortization in the accompanying consolidated statements of operations. Amortization of acquired below-market leases, if any, is recorded as an increase to rental and other property income in the accompanying consolidated statements of operations.

During the three and six months ended June 30, 2026 and 2025, the Company recognized amortization related to its intangible assets as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025

Acquired above-market lease amortization	$	—	$	—	$	—	$	1
Acquired in-place lease amortization	$	31	$	30	$	61	$	109

A schedule of future amortization and accretion of acquired intangible assets as of June 30, 2026, is as follows (in thousands):


	Assets
	Acquired
	In-Place
Years Ending December 31,	Leases

2026 (Six months ending December 31, 2026)	$	61
2027	123
2028	122
2029	72
2030	—
Thereafter	—
	$	378