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OTHER INTANGIBLE ASSETS AND LIABILITIES
 9 Months Ended
Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
OTHER INTANGIBLE ASSETS AND LIABILITIES
6. OTHER INTANGIBLE ASSETS AND LIABILITIES
A schedule of the Company’s intangible assets and liabilities and related accumulated amortization and accretion as of September 30, 2023 and December 31, 2022 is as follows (in thousands):
September 30, 2023December 31, 2022
Intangible assets:
Acquired in-place leases, net of accumulated amortization of $4,727 and $7,795, respectively, with an average useful life of 6 and 8 years, respectively.
$1,078 $1,488 
Acquired above-market leases, net of accumulated amortization of $29 and $39, respectively, with an average useful life of 7 and 6 years, respectively
8 16 
Trade name and license2,957 2,957 
Total intangible assets, net$4,043 $4,461 
Intangible lease liabilities:
Acquired below-market leases, net of accumulated amortization of $5 and $22, respectively, with an average useful life of 1 year as of December 31, 2022.
$— $20 
Amortization of the acquired above-market leases is recorded as a reduction to rental and other property income, and amortization of the acquired in-place leases is included in depreciation and amortization in the accompanying consolidated statements of operations. Amortization of the acquired below-market leases is recorded as an increase to rental and other property income in the accompanying consolidated statements of operations.
During the three and nine months ended September 30, 2023 and 2022, the Company recognized amortization related to its intangible assets and liabilities as follows (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
Acquired above-market lease amortization$21 $3 $79 $9 
Acquired in-place lease amortization$9,488 $212 $27,620 $645 
Acquired below-market lease amortization$93 $67 $243 $196 
A schedule of future amortization and accretion of acquired intangible assets and liabilities as of September 30, 2023, is as follows (in thousands):
 Assets
Years Ending December 31,Acquired
Above-Market
Leases		Acquired
In-Place
Leases
2023$2 $93 
20245 374 
20251 171 
2026— 123 
2027— 123 
Thereafter— 194 
$8 $1,078