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Intangible Assets and Liabilities (Tables)
3 Months Ended
Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets At March 31, 2024 and December 31, 2023, intangible assets included the following ($ in thousands):
20242023
In-place leases, net of accumulated amortization of $136,067 and $135,433
in 2024 and 2023, respectively
$75,715 $80,117 
Below-market ground leases, net of accumulated amortization of $2,360 and
$2,260 in 2024 and 2023, respectively
16,892 16,992 
Above-market leases, net of accumulated amortization of $25,272 and $24,918
in 2024 and 2023, respectively
11,278 11,884 
      Goodwill1,674 1,674 
$105,559 $110,667 
Schedule of Intangible Liabilities At March 31, 2024 and December 31, 2023, intangible liabilities were the following ($ in thousands):
20242023
Below-market leases, net of accumulated amortization of $52,345 and $50,475 in 2024 and 2023, respectively
$40,115 $42,193 
Schedule of Amortization of Intangible Asset and Liabilities
The amortization of the above asset and liabilities are recorded as follows ($ in thousands):
Three Months Ended March 31,
20242023
Revenues:
Rental property revenues, net (Below-market and Above-market leases)$1,461 $1,559 
Expenses:
Depreciation and amortization (In-place leases)4,401 5,412 
Rental property operating and other expenses (Below-market ground leases)100 100 
Schedule of Aggregate Amortization of Intangible Assets and Liabilities
Over the next five years and thereafter, aggregate amortization of these intangible assets and liabilities is anticipated to be as follows ($ in thousands):
In-Place 
Leases
Below-Market Ground LeasesAbove-Market LeasesBelow-Market
Leases
2024 (9 months)$12,420 $212 $1,721 $(6,135)
202514,785 282 2,099 (7,743)
202612,418 282 1,720 (6,524)
20279,833 282 1,310 (4,989)
20287,016 282 1,201 (3,853)
Thereafter19,243 15,552 3,227 (10,871)
$75,715 $16,892 $11,278 $(40,115)