CNSREIT-AR-2024 Final - Flipbook - Page 128
The following table summarizes the Company9s investments in real estate-related securities ($ in thousands):
Equity Securities (1) Debt Securities (1)
$
4 $
4 $
17,220
14,118
(5,242)
(3,225)
Balance as of December 31, 2023
Additions
Disposals
Unrealized gains (losses) on changes in fair value of
real estate-related securities, net
Realized gains on sale of real estate-related
securities, net
Balance as of December 31, 2024
$
Total
4
31,338
(8,467)
(558)
(55)
(613)
482
11,902 $
70
10,908 $
552
22,810
_________
(1)
Equity securities represent common stock of publicly-traded REITs and real estate-related preferred securities.
Debt securities represent real estate-related debt securities.
The following table summarizes the components of realized and unrealized gains (losses) from real estate-related securities,
net during the year ended December 31, 2024 ($ in thousands):
Unrealized gains, net
Realized gains, net
Dividend and interest income (1)
$
For the Years Ended December 31,
2024
2023
(613) $
552
330
Total
$
269 $
4
4
4
4
_________
(1)
Dividend and interest income earned on real estate-related securities are recorded as a component of realized and
unrealized gains (losses) from real estate-related securities, net on the Company9s consolidated statements of
operations.
Note 5: Intangibles
The lease intangibles are amortized over the remaining lease terms from which they were derived. As a result, the
Company9s lease intangibles are being amortized from less than one year to thirty years. The gross carrying amount and
accumulated amortization of the Company9s intangible assets and liabilities consisted of the following as of December 31,
2024 ($ in thousands):
Gross Carrying Amount
Lease intangible assets
In-place lease
Above-market lease
Total intangible assets
Lease intangible liabilities
Below-market lease
Total intangible liabilities
$
December 31, 2024
Accumulated
Amortization
Net Carrying Amount
$
37,352 $
839
38,191 $
(3,769) $
(147)
(3,916) $
33,583
692
34,275
$
(25,365)
(25,365) $
406
406 $
(24,959)
(24,959)
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