v3.26.1
INTANGIBLE ASSETS
6 Months Ended
Jun. 30, 2026
INTANGIBLE ASSETS  
INTANGIBLE ASSETS

​

5.     INTANGIBLE ASSETS

Intangible assets consist of the following as of June 30, 2026 and December 31, 2025 (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

​

​

As of June 30, 2026

​

​

Useful Life

​

Gross Value

​

Accumulated Amortization

​

Net Carrying Value

​

Weighted Average Remaining Useful Life

Management services agreements

​

17-21 years

​

$

17,100

​

$

(1,463)

​

$

15,637

​

17.5 years

Trade name

​

5 years

​

​

2,590

​

​

(807)

​

​

1,783

​

3.5 years

​

​

​

​

$

19,690

​

$

(2,270)

​

$

17,420

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

​

​

As of December 31, 2025

​

​

Useful Life

​

Gross Value

​

Accumulated Amortization

​

Net Carrying Value

​

Weighted Average Remaining Useful Life

Management services agreements

​

17-21 years

​

$

17,100

​

$

(993)

​

$

16,107

​

18 years

Trade name

​

5 years

​

​

2,590

​

​

(548)

​

​

2,042

​

4 years

​

​

​

​

$

19,690

​

$

(1,541)

​

$

18,149

​

​

​

Amortization expense for intangible assets was $0.4 million for the three months ended June 30, 2026 and 2025, respectively.

Amortization expense for intangible assets was $0.7 million for the six months ended June 30, 2026 and 2025, respectively.

Amortization expense over the remaining life of the intangible assets will be recognized as follows (in thousands):

​

​

​

​

Year

  ​ ​ ​

​

Amortization expense

Remainder of 2026

​

$

728

2027

​

​

1,457

2028

​

​

1,457

2029

​

​

1,428

2030

​

​

939

Thereafter

​

​

11,411

​

​

$

17,420

​