Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Useful Lives of Depreciable Assets

Depreciation expense is computed using the straight-line method based on the following useful lives: 

	Years
Buildings and Improvements	3 to 50
Land Improvements	2 to 25
Furniture, Fixtures and Equipment	3 to 5
Tenant Improvements	Shorter of Useful Life or Terms of Related Lease

Summary of Deferred Leasing Intangibles

Deferred leasing intangibles, net of accumulated amortization, included in our total assets and total liabilities consist of the following: 

	December 31, 2023		December 31, 2022
In-Place Leases	$	16,199	$	19,373
Above Market Leases	2,435		1,319
Below Market Ground Lease Obligation	1,417		1,462
Tenant Relationships	1,467		1,936
Total Included in Total Assets, Net of $28,205 and $28,590 of Accumulated Amortization	$	21,518	$	24,090
Below Market Leases	$	11,851	$	15,152
Total Included in Total Liabilities, Net of $16,796 and $18,004 of Accumulated Amortization	$	11,851	$	15,152

Future Amortization Expense Related to Deferred Leasing Intangibles

We will recognize net amortization expense related to deferred leasing intangibles over the next five years for properties owned as of December 31, 2023 as follows: 

	Estimated Amortization of In-Place Leases and Tenant Relationships		Estimated Net Increase to Rental Revenues Related to Above and Below Market Leases
2024	$	4,860	$	3,341
2025	$	3,790	$	2,465
2026	$	2,666	$	1,558
2027	$	1,787	$	973
2028	$	1,394	$	741