v3.26.1
LEASE INTANGIBLES (Tables)
 6 Months Ended 12 Months Ended
Jun. 30, 2026
Dec. 31, 2025
Intangible Asset, Goodwill and Other [Abstract]    
SCHEDULE OF OTHER INTANGIBLE ASSETS AND ACCUMULATED AMORTIZATION

The following table summarizes the net value of other intangible assets acquired and the accumulated amortization for each class of intangible asset:

 

   June 30, 2026   December 31, 2025 
   Lease Intangibles   Accumulated Amortization   Lease Intangibles, net   Lease Intangibles   Accumulated Amortization   Lease Intangibles, net 
In-place leases  $932,175   $(931,716)  $459   $2,377,414   $(2,375,580)  $1,834 
Leasing costs   468,427    (467,859)   568    1,090,384    (1,088,114)   2,270 
   $1,400,602   $(1,399,575)  $1,027   $3,467,798   $(3,463,694)  $4,104 

 

 

At June 30, 2026 and December 31, 2025, there were gross lease intangible assets and accumulated amortization related to the lease intangible assets included in real estate assets held for sale as of June 30, 2026. The following table below summarizes the net value of other intangible assets acquired and the accumulated amortization for each class of intangible asset related to Shea Center II.

 

   June 30, 2026   December 31, 2025 
  

Lease

Intangibles

  

Accumulated

Amortization

  

Lease

Intangibles, net

  

Lease

Intangibles

  

Accumulated

Amortization

  

Lease

Intangibles, net

 
In-place leases  $1,445,239   $(1,445,239)  $—   $—   $—   $— 
Leasing costs   621,957    (621,957)   —    —    —    — 
   $2,067,196   $(2,067,196)  $—   $—   $—   $— 

The following table summarizes the net value of other intangible assets acquired and the accumulated amortization for each class of intangible asset:

 

    December 31, 2025     December 31, 2024  
    Lease Intangibles     Accumulated Amortization     Lease Intangibles, net     Lease Intangibles     Accumulated Amortization     Lease Intangibles, net  
In-place leases   $ 2,377,414     $ (2,375,580 )   $ 1,834     $ 2,515,264     $ (2,504,799 )   $ 10,465  
Leasing costs     1,090,384       (1,088,114 )     2,270       1,261,390       (1,252,078 )     9,312  
Above-market leases     —       —       —       —       —       —  
    $ 3,467,798     $ (3,463,694 )   $ 4,104     $ 3,776,654     $ (3,756,877 )   $ 19,777  
SCHEDULE OF AMORTIZATION EXPENSE LEASE INTANGIBLE ASSETS

Future aggregate approximate amortization expense for the Company’s lease intangible assets is as follows:

 

Years ending December 31:     
2026  $1,027 
2027   — 
Total  $1,027 

 

Future aggregate approximate amortization expense for the Company’s lease intangible assets is as follows:

 

         
2026   $ 4,104  
2027     —  
Thereafter     —  
Total   $ 4,104