| Other Assets and Intangibles, net |
3.Other Assets and Intangibles, net Other assets and intangibles consist of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2026 |
|
|
Asset |
|
|
Accumulated Amortization |
|
|
Net |
|
Intangible assets, net: |
|
|
|
|
|
|
|
|
In-place leases |
$ |
1,964 |
|
|
$ |
(1,798 |
) |
|
$ |
166 |
|
Above-market leases |
|
100 |
|
|
|
(79 |
) |
|
|
21 |
|
Lease origination costs |
|
415 |
|
|
|
(396 |
) |
|
|
19 |
|
Tenant relationships |
|
— |
|
|
|
— |
|
|
|
— |
|
Total intangible assets, net |
|
2,479 |
|
|
|
(2,273 |
) |
|
|
206 |
|
Operating lease ROU assets |
|
|
|
|
|
|
|
3,823 |
|
Other assets: |
|
|
|
|
|
|
|
|
Prepaid expenses |
|
|
|
|
|
|
|
2,472 |
|
Other assets |
|
|
|
|
|
|
|
718 |
|
Deposits |
|
|
|
|
|
|
|
1,535 |
|
Total other assets, net |
|
|
|
|
|
|
$ |
8,754 |
|
|
Liability |
|
|
Accumulated Amortization |
|
|
Net |
|
Below-market leases(A) |
$ |
1,370 |
|
|
$ |
(294 |
) |
|
$ |
1,076 |
|
(A)Includes $0.9 million related to a below-market lease for the Company’s Beachwood headquarters included in the Shared Services Agreement with Curbline Properties (Note 6).
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025 |
|
|
Asset |
|
|
Accumulated Amortization |
|
|
Net |
|
Intangible assets, net: |
|
|
|
|
|
|
|
|
In-place leases |
$ |
16,472 |
|
|
$ |
(12,209 |
) |
|
$ |
4,263 |
|
Above-market leases |
|
510 |
|
|
|
(290 |
) |
|
|
220 |
|
Lease origination costs |
|
2,091 |
|
|
|
(1,748 |
) |
|
|
343 |
|
Tenant relationships |
|
11,339 |
|
|
|
(8,658 |
) |
|
|
2,681 |
|
Total intangible assets, net |
|
30,412 |
|
|
|
(22,905 |
) |
|
|
7,507 |
|
Operating lease ROU assets |
|
|
|
|
|
|
|
14,700 |
|
Other assets: |
|
|
|
|
|
|
|
|
Prepaid expenses |
|
|
|
|
|
|
|
3,837 |
|
Other assets |
|
|
|
|
|
|
|
737 |
|
Deposits |
|
|
|
|
|
|
|
1,812 |
|
Total other assets, net |
|
|
|
|
|
|
$ |
28,593 |
|
|
Liability |
|
|
Accumulated Amortization |
|
|
Net |
|
Below-market leases |
$ |
6,613 |
|
|
$ |
(1,943 |
) |
|
$ |
4,670 |
|
Amortization for the three and nine months ended September 30, 2026 and 2025 related to the Company’s intangibles was as follows (in thousands):
|
|
|
|
|
|
|
|
|
Period |
|
Income |
|
|
Expense |
|
Three months ended September 30, 2026 |
|
$ |
15 |
|
|
$ |
29 |
|
Three months ended September 30, 2025 |
|
|
123 |
|
|
|
598 |
|
Nine months ended September 30, 2026 |
|
|
135 |
|
|
|
486 |
|
Nine months ended September 30, 2025 |
|
|
429 |
|
|
|
2,070 |
|
|