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Deferred Leasing Costs and Acquisition-related Intangible Assets and Liabilities, net (Tables)
 12 Months Ended
Dec. 31, 2012
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary of identified deferred leasing costs and acquisition-related intangible assets
The following table summarizes our deferred leasing costs and acquisition-related intangible assets (acquired value of leasing costs, above-market operating leases, in-place leases and below-market ground lease obligation) and intangible liabilities (acquired value of below-market operating leases and above-market ground lease obligation) as of December 31, 2012 and 2011:
 
December 31,
 
2012
 
2011
 
(in thousands)
Deferred Leasing Costs and Acquisition-related Intangible Assets, net:
 
 
 
Deferred leasing costs
$
168,087

 
$
142,652

Accumulated amortization
(61,443
)
 
(52,974
)
Deferred leasing costs, net
106,644

 
89,678

Above-market operating leases
27,977

 
28,143

Accumulated amortization
(12,180
)
 
(8,101
)
Above-market operating leases, net
15,797

 
20,042

In-place leases
101,061

 
61,355

Accumulated amortization
(34,019
)
 
(15,753
)
In-place leases, net
67,042

 
45,602

Below-market ground lease obligation
690

 
200

Accumulated amortization
(205
)
 
—

Below-market ground lease obligation, net
485

 
200

Total deferred leasing costs and acquisition-related intangible assets, net
$
189,968

 
$
155,522

Acquisition-related Intangible Liabilities, net(1):
 
 
 
Below-market operating leases
$
70,486

 
$
37,582

Accumulated amortization
(17,555
)
 
(6,158
)
Below-market operating leases, net
52,931

 
31,424

Above-market ground lease obligation
6,320

 
5,200

Accumulated amortization
(122
)
 
(37
)
Above-market ground lease obligation, net
6,198

 
5,163

Total acquisition-related intangible liabilities, net
$
59,129

 
$
36,587

________________________
(1)
Included in deferred revenue and acquisition-related intangible liabilities, net in the consolidated balance sheets.
Amortization for the period related to deferred leasing costs and acquisition-related intangibles
The following table sets forth amortization related to deferred leasing costs and acquisition-related intangibles for the years ended December 31, 2012, 2011 and 2010:

 
Year Ended December 31,
 
2012
 
2011
 
2010
 
(in thousands)
Deferred leasing costs (1)
$
20,804

 
$
16,905

 
$
13,344

Above-market operating leases (2)
5,695

 
5,946

 
2,163

In-place leases (1)
21,976

 
12,575

 
3,266

Below-market ground lease obligation (3)
205

 
—

 
—

Below-market operating leases (4)
(12,393
)
 
(4,890
)
 
(786
)
Above-market ground lease obligation (5)
(85
)
 
(37
)
 
—

Total
$
36,202

 
$
30,499

 
$
17,987

_________________________
(1)
The amortization of deferred leasing costs and in-place leases is recorded to depreciation and amortization expense in the consolidated statements of operations for the periods
presented.
(2) The amortization of above-market operating leases is recorded as a decrease to rental income in the consolidated statements of operations for the periods presented.
(3)
The amortization of the below-market ground lease obligation is recorded as an increase to ground lease expense in the consolidated statements of operations for the periods presented.
(4)
The amortization of below−market operating leases is recorded as an increase to rental income in the consolidated statements of operations for the periods presented.
(5)
The amortization of the above-market ground lease obligation is recorded as a decrease to ground lease expense in the consolidated statements of operations for the periods presented.
Estimated annual amortization related to deferred leasing costs and acquisition-related intangibles
The following table sets forth the estimated annual amortization expense related to deferred leasing costs and acquisition-related intangibles as of December 31, 2012 for future periods:
Year Ending
Deferred Leasing Costs
 
Above-Market Operating Leases (1)
 
In-Place Leases
 
Below-Market Ground Lease Obligation (2)
 
Below-Market Operating Leases (3)
 
Above-Market Ground Lease Obligation (4)
 
(in thousands)
2013
$
22,676

 
$
5,316

 
$
23,298

 
$
8

 
$
(13,140
)
 
$
(101
)
2014
20,235

 
4,336

 
15,567

 
8

 
(11,360
)
 
(101
)
2015
16,377

 
2,533

 
9,913

 
8

 
(8,828
)
 
(101
)
2016
13,757

 
1,506

 
6,798

 
8

 
(6,645
)
 
(101
)
2017
11,421

 
1,185

 
5,417

 
8

 
(5,577
)
 
(101
)
Thereafter
22,178

 
921

 
6,049

 
445

 
(7,381
)
 
(5,693
)
Total
$
106,644

 
$
15,797

 
$
67,042

 
$
485

 
$
(52,931
)
 
$
(6,198
)
_______________________
(1)
Represents estimated annual amortization related to above-market operating leases. Amounts will be recorded as a decrease to rental income in the consolidated statements of operations.
(2)
Represents estimated annual amortization related to below−market ground lease obligations. Amounts will be recorded as an increase to ground lease expense in the consolidated statements of operations.
(3)
Represents estimated annual amortization related to below-market operating leases. Amounts will be recorded as an increase to rental income in the consolidated statements of operations.
(4)
Represents estimated annual amortization related to above−market ground lease obligations. Amounts will be recorded as a decrease to ground lease expense in the consolidated statements of operations.