v3.24.2.u1
Investment in Rental Real Estate, net (Tables)
6 Months Ended
Jun. 30, 2024
Investment in Rental Real Estate, net  
Schedule of investment in rental real estate

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​

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​

​

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Six months ended June 30, 2024

    

Cost

    

Accumulated Depreciation

    

Investment in Rental Real Estate, Net

​

​

(in thousands)

Land

​

$

4,557

​

$

—

​

$

4,557

Building

​

 

4,976

​

​

(92)

​

​

4,884

Site improvements

​

 

359

​

​

(18)

​

​

341

Tenant improvements

​

 

1,183

​

​

—

​

​

1,183

Construction in progress

​

 

939

​

​

—

​

​

939

Total

​

$

12,014

​

$

(110)

​

$

11,904

​

​

​

​

​

​

​

​

​

​

​

Year ended December 31, 2023

    

Cost

    

Accumulated Depreciation

    

Investment in Rental Real Estate, Net

​

​

(in thousands)

Land

​

$

3,957

​

$

—

​

$

3,957

Building

​

 

4,936

​

​

(31)

​

​

4,905

Site improvements

​

 

358

​

​

(6)

​

​

352

Tenant improvements

​

 

1,183

​

​

—

​

​

1,183

Construction in progress

​

​

157

​

​

—

​

​

157

Total

​

$

10,591

​

$

(37)

​

$

10,554

Schedule of estimated annual amortization of acquired below-market leases

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​

​

​

​

Years Ending December 31,

    

Amount

​

​

(in thousands)

2024 (6 months)

​

$

—

2025

​

 

66

2026

​

 

66

2027

​

 

66

2028

​

 

66

Thereafter

​

 

401

Total

​

$

665

Schedule of estimated annual amortization of acquired in-place lease intangible

​

​

​

​

​

Years Ending December 31,

    

Amount

​

​

(in thousands)

2024 (6 months)

​

$

—

2025

​

 

57

2026

​

 

57

2027

​

 

57

2028

​

 

57

Thereafter

​

 

340

Total

​

$

568

Schedule of estimated annual amortization of deferred leasing costs

​

​

​

​

​

Years Ending December 31,

    

Amount

​

​

(in thousands)

2024 (6 months)

​

$

—

2025

​

 

39

2026

​

 

39

2027

​

 

39

2028

​

 

39

Thereafter

​

 

231

Total

​

$

387

Leases space to a tenant  
Investment in Rental Real Estate, net  
Schedule of future minimum rents under non-cancelable operating leases

As of June 30, 2024, future minimum rents under non-cancelable operating leases were as follows:

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​

​

​

Years Ending December 31,

    

Amount

​

​

(in thousands)

2024 (6 months)

​

$

—

2025

​

 

—

2026

​

 

1,040

2027

​

 

1,269

2028

​

 

1,294

Thereafter

​

 

10,061

Total

​

$

13,664