INTANGIBLE ASSETS AND LIABILITIES |
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| Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| INTANGIBLE ASSETS AND LIABILITIES | NOTE 8. INTANGIBLE ASSETS AND LIABILITIES Intangible assets and liabilities consist of the value of above-market and below-market leases, the value of in-place leases, and the value of leasing costs, based in each case on their fair values. Intangible assets and liabilities consisted of the following as of March 31, 2026 and December 31, 2025 (in thousands):
The following table reflects the net amortization of intangible assets and liabilities during the three months ended March 31, 2026 and 2025 (in thousands):
Amortization expense and accretion to income properties revenue for the three months ended March 31, 2026 includes $0.4 million and $0.1 million, respectively, related to the acceleration of lease intangibles from certain lease terminations during the period. For the three months ended March 31, 2025, amortization expense and accretion to income properties revenue includes $0.7 million and $0.3 million, respectively, related to similar lease termination activity. The estimated future amortization expense (income) related to net intangible assets and liabilities is as follows (in thousands):
As of March 31, 2026, the weighted average amortization period of total intangible assets and liabilities was 7.9 years and 9.5 years, respectively. |
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