v3.25.4
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Schedule of Acquired Real Estate Leases, Net and Assumed Real Estate Lease Obligations, Net
As of December 31, 2025 and 2024, our acquired real estate leases, net and assumed real estate lease obligations, net were as follows:
As of December 31,
20252024
Acquired real estate leases:
Above market lease values$23,778 $25,553 
Less: accumulated amortization(14,452)(14,746)
Above market lease values, net9,326 10,807 
Lease origination value277,501 314,671 
Less: accumulated amortization(122,641)(126,285)
Lease origination value, net154,860 188,386 
Acquired real estate leases, net$164,186 $199,193 
Assumed real estate lease obligations:
Below market lease values$29,132 $34,670 
Less: accumulated amortization(17,453)(19,733)
Assumed real estate lease obligations, net$11,679 $14,937 
Schedule of Expected Future Amortization Related to Acquired Real Estate Leases, Net and Assumed Real Estate Obligations, Net, Deferred Leasing Costs, Net and Debt Issuance Costs, Net
Expected future amortization related to our acquired real estate leases, net and assumed real estate obligations, net, deferred leasing costs, net and debt issuance costs, net as of December 31, 2025 are shown below:
Acquired
Real Estate
Leases andDeferredDebt
Assumed LeasingIssuance
ObligationsCostsCosts
2026$28,579 $4,412 $4,607 
202726,075 4,148 4,582 
202822,120 3,807 4,582 
202918,854 3,327 4,098 
203015,638 2,699 2,264 
Thereafter41,241 10,117 709 
Total$152,507 $28,510 $20,842