Investments in Real Estate (Tables)

9 Months Ended

Sep. 30, 2025

Schedule of Estimated Useful Lives of the Assets

The Company’s investments in real estate are stated at cost and are generally depreciated on a straight-line basis over the estimated useful lives of the assets as follows:


Description						Depreciable Life
Buildings						40 years
Buildings and site improvements						5 - 20 years
Lease intangibles and leasehold improvements						Over lease term

Investments in real estate, net consisted of the following ($ in thousands):


	September 30, 2025		December 31, 2024
Buildings and improvements	$	221,306	$	158,570
Land	84,666		74,268
Total	305,972		232,838
Accumulated depreciation	(5,853)		(1,422)
Investment in real estate, net	$	300,119	$	231,416

The following table summarizes the purchase price allocation for the properties acquired during the nine months ended September 30, 2025 ($ in thousands):


	Amount
Buildings and improvements	$	61,798
Land	10,399
In-place lease intangibles	11,912
Below-market lease intangibles	(10,045)
Above-market lease intangibles	150
Total purchase price	$	74,214

Schedule of Real Estate Properties Acquired

The Company acquired the following properties during the nine months ended September 30, 2025 ($ in thousands):


Property Name	Ownership Interest	Number of Properties	Location	Property Type	Acquisition Date	Purchase Price(1)
Oak Grove Shoppes	80%	1	Orlando, FL	Grocery-anchored shopping center	January 17, 2025	$	40,181
Deer Valley Towne Center	99%	1	Phoenix, AZ	Community shopping center	August 1, 2025	34,033
		2				$	74,214

_________

(1)Purchase price includes transaction costs and other acquisition-related adjustments.

Schedule of Weighted-Average Amortization

The weighted-average amortization periods for lease intangible assets and liabilities acquired in connection with the Company’s acquisitions during the nine months ended September 30, 2025 were as follows:


	In-place lease intangibles	Above-market lease intangibles	Below-market lease intangibles(1)
Weighted-average amortization periods (in years)	8.9	4.1	26.7

_________

(1)Amortization period assumes the exercise of any below-market lease options.

Cohen & Steers Income Opportunities REIT, Inc. 10-Q