XML 41 R31.htm IDEA: XBRL DOCUMENT v3.23.1
OTHER INTANGIBLE ASSETS AND LIABILITIES (Tables)
3 Months Ended
Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets and Liabilities and Related Accumulated Amortization and Accretion
A schedule of the Company’s intangible assets and liabilities and related accumulated amortization and accretion as of March 31, 2023 and December 31, 2022 is as follows (in thousands):
March 31, 2023December 31, 2022
Intangible assets:
Acquired in-place leases, net of accumulated amortization of $11,923 and $7,795, respectively, with an average useful life of 3 and 8 years, respectively.
$24,571 $1,488 
Acquired above-market leases, net of accumulated amortization of $63 and $39, respectively, with an average useful life of 3 and 6 years, respectively
63 16 
Trade name and license2,957 2,957 
Total intangible assets, net$27,591 $4,461 
Intangible lease liabilities:
Acquired below-market leases, net of accumulated amortization of $32 and $22, respectively, both with an average useful life of 1 year
$234 $20 
Schedule of Amortization of Acquired Leases
During the three months ended March 31, 2023 and 2022, the Company recognized amortization related to its intangible assets and liabilities as follows (in thousands):
Three Months Ended March 31,
20232022
Acquired above-market lease amortization$24 $
Acquired in-place lease amortization$4,127 $238 
Acquired below-market lease amortization$$69 
Schedule of Future Amortization and Accretion of Acquired Intangible Assets and Liabilities
A schedule of future amortization and accretion of acquired intangible assets and liabilities as of March 31, 2023, is as follows (in thousands):
 AssetsLiabilities
Years Ending December 31,Acquired
Above-Market
Leases
Acquired
In-Place
Leases
Acquired
Below-Market
Leases
2023$57 $23,585 $(234)
2024374 — 
2025171 — 
2026— 123 — 
2027— 123 — 
Thereafter— 195 — 
$63 $24,571 $(234)