v3.26.1
INTANGIBLE LEASE ASSETS AND LIABILITIES (Tables)
 3 Months Ended
Mar. 31, 2026
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Lease Assets and Liabilities
Intangible lease assets and liabilities consisted of the following as of March 31, 2026 and December 31, 2025 (in thousands, except weighted average life remaining):
March 31, 2026December 31, 2025
Intangible lease assets:
In-place leases and other intangibles, net of accumulated amortization of $61,255 and $59,881, respectively (with a weighted average life remaining of 11.5 years and 11.6 years, respectively)
$90,662 $93,674 
Acquired above-market leases, net of accumulated amortization of $5,819 and $5,332, respectively (with a weighted average life remaining of 7.9 years and 7.9 years, respectively)
9,343 10,014 
Total intangible lease assets, net$100,005 $103,688 
Intangible lease liabilities:
Acquired below-market leases, net of accumulated amortization of $7,052 and $7,078, respectively (with a weighted average life remaining of 12.4 years and 12.5 years, respectively)
$13,745 $14,293 
Schedule of Amortization Expense Related to the Intangible Lease Assets
The following table summarizes the amortization related to the intangible lease assets and liabilities for the three months ended March 31, 2026 and 2025 (in thousands):
Three Months Ended March 31,
20262025
In-place lease and other intangible amortization$2,711 $2,876 
Above-market lease amortization$530 $513 
Below-market lease amortization$326 $269 
Schedule of Estimated Amortization Relating to the Intangible Lease Assets and Liabilities
As of March 31, 2026, the estimated amortization relating to the intangible lease assets and liabilities is as follows (in thousands):
Amortization
In-Place Leases and
Other Intangibles
Above-Market Leases
Below-Market Leases
Remainder of 2026$7,754 $1,563 $965 
202710,149 2,050 1,287 
20289,151 1,729 1,287 
20298,397 1,208 1,287 
20307,962 1,037 1,278 
Thereafter47,249 1,756 7,641 
Total$90,662 $9,343 $13,745