Acquired Lease Intangible Liabilities, Net (Tables)

6 Months Ended

Jun. 30, 2026

Below Market Lease [Abstract]

Summary of Acquired Lease Intangible Liabilities

Acquired lease intangible liabilities, net is comprised of the following:


	As of June 30,				As of December 31,
	2026				2025
Acquired lessor lease intangible liabilities	$	1,315,175			$	2,011,964
Accumulated accretion to rental income		(477,685	)			(656,347	)
Acquired lessor lease intangible liabilities, net	$	837,490			$	1,355,617

Acquired lessee lease intangible liabilities	$	45,207			$	45,207
Accumulated amortization to offset building expenses		(3,152	)			(2,786	)
Acquired lessee lease intangible liabilities, net	$	42,055			$	42,421

Summary of Future Amortization for Intangible Liabilities

The future amortization for acquired lessor lease intangible liabilities, net for subsequent years ending December 31 is listed below:


	As of June 30,
	2026
2026 (6 months remaining)	$	61,978
2027		123,956
2028		123,956
2029		71,538
2030		19,987
Thereafter		436,075
	$	837,490

The amortization for acquired lessee lease intangible liabilities for both the three and six months ended June 30, 2026 and 2025 was $183 and $366, respectively. The future amortization for acquired lessee lease intangible liabilities, net for subsequent years ending December 31 is listed below:


	As of June 30,
	2026
2026 (6 months remaining)	$	366
2027		731
2028		731
2029		731
2030		731
Thereafter		38,765
	$	42,055