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Deferred Leasing Costs and Acquisition-related Intangible Assets and Liabilities, net (Tables)
 3 Months Ended
Mar. 31, 2015
Intangible Assets and Liabilities Disclosure [Abstract]  
Summary of identified deferred leasing costs and acquisition-related intangible assets and liabilities
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 March 31, 2015 and December 31, 2014:

 
March 31, 2015
 
December 31, 2014
 
(in thousands)
Deferred Leasing Costs and Acquisition-Related Intangible Assets, net: (1)
 
 
 
Deferred leasing costs
$
201,548

 
$
216,102

Accumulated amortization
(74,864
)
 
(74,904
)
Deferred leasing costs, net
126,684

 
141,198

Above-market operating leases
19,194

 
20,734

Accumulated amortization
(13,323
)
 
(13,952
)
Above-market operating leases, net
5,871

 
6,782

In-place leases
93,222

 
97,250

Accumulated amortization
(43,993
)
 
(43,773
)
In-place leases, net
49,229

 
53,477

Below-market ground lease obligation
490

 
490

Accumulated amortization
(23
)
 
(21
)
Below-market ground lease obligation, net
467

 
469

Total deferred leasing costs and acquisition-related intangible assets, net
$
182,251

 
$
201,926

Acquisition-Related Intangible Liabilities, net: (1) (2)
 
 
 
Below-market operating leases
$
64,792

 
$
68,051

Accumulated amortization
(30,222
)
 
(30,620
)
Below-market operating leases, net
34,570

 
37,431

Above-market ground lease obligation
6,320

 
6,320

Accumulated amortization
(349
)
 
(324
)
Above-market ground lease obligation, net
5,971

 
5,996

Total acquisition-related intangible liabilities, net
$
40,541

 
$
43,427

_______________
(1)
Excludes deferred leasing costs and acquisition-related intangible assets and liabilities related to properties held for sale at March 31, 2015.
(2)
Included in deferred revenue and acquisition-related intangible liabilities, net in the consolidated balance sheets.


Schedule Of Finite Lived Intangible Assets and Liabilities Amortization Expense
The following table sets forth amortization related to deferred leasing costs and acquisition-related intangibles, including amounts attributable to discontinued operations, for the three months ended March 31, 2015 and 2014:

 
Three Months Ended March 31,
 
2015
 
2014
 
(in thousands)
Deferred leasing costs (1)
$
6,822

 
$
6,780

Above-market operating leases (2)
911

 
1,490

In-place leases (1)
4,221

 
6,136

Below-market ground lease obligation (3)
2

 
—

Below-market operating leases (4)
(2,839
)
 
(3,093
)
Above-market ground lease obligation (5)
(25
)
 
(25
)
Total
$
9,092

 
$
11,288

_______________
(1)
The amortization of deferred leasing costs related to lease incentives is recorded to rental income and other 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.
Schedule of Finite Lived Intangible Assets And Liabilities Future Amortization Expense

The following table sets forth the estimated annual amortization expense related to deferred leasing costs and acquisition-related intangibles as of March 31, 2015 for future periods:

Year
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)
Remaining 2015
$
19,561

 
$
1,619

 
$
9,829

 
$
6

 
$
(7,239
)
 
$
(76
)
2016
23,763

 
1,503

 
10,741

 
8

 
(8,189
)
 
(101
)
2017
20,881

 
1,241

 
9,281

 
8

 
(7,337
)
 
(101
)
2018
17,275

 
831

 
6,373

 
8

 
(5,735
)
 
(101
)
2019
13,440

 
643

 
4,714

 
8

 
(3,597
)
 
(101
)
Thereafter
31,764

 
34

 
8,291

 
429

 
(2,473
)
 
(5,491
)
Total
$
126,684

 
$
5,871

 
$
49,229

 
$
467

 
$
(34,570
)
 
$
(5,971
)
_______________
(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.