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Intangible Assets, Net (Tables)
12 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Details of Intangible Assets

The Company’s intangible assets, net consist of the following:

 

 

 

December 31,

 

 

 

2022

 

 

2021

 

Anchor tenant relationships (a)

 

$

1,761

 

 

$

1,761

 

In-place leases

 

 

3,579

 

 

 

4,215

 

Policy renewal rights - United

 

 

10,100

 

 

 

7,634

 

Non-compete agreements - United (b)

 

 

314

 

 

 

195

 

Total, at cost

 

 

15,754

 

 

 

13,805

 

Less: accumulated amortization

 

 

(5,176

)

 

 

(3,169

)

Intangible assets, net

 

$

10,578

 

 

$

10,636

 

 

(a)
An anchor tenant is a tenant that attracted more customers than other tenants.
(b)
$119 was fully amortized in June 2022 and $195 was fully amortized in June 2021.
Schedule of Remaining Weighted-Average Amortization Period for Intangible Assets

The remaining weighted-average amortization periods for the intangible assets as of December 31, 2022 are summarized in the table below:

 

Anchor tenant relationships

 

11.5 years

In-place leases

 

9.7 years

Policy renewal rights - United

 

3.3 years

Schedule of Amortization Expense for Intangible Assets Amortization expense for intangible assets after December 31, 2022 is as follows:

 

Year

 

Amount

 

2023

 

$

2,763

 

2024

 

 

2,759

 

2025

 

 

2,728

 

2026

 

 

1,024

 

2027

 

 

212

 

Thereafter

 

 

1,092

 

Total

 

$

10,578