Deferred Revenue, Intangibles, Net and Other Liabilities

9 Months Ended

Sep. 30, 2020

Other Liabilities Disclosure [Abstract]

Deferred Revenue, Intangibles, Net and Other Liabilities

Deferred Revenue, Intangibles, Net and Other Liabilities

Deferred revenue and other liabilities consist of the unamortized fair value of below market lease liabilities recorded in connection with purchase accounting, retainage payables for development and redevelopment projects, and tenant rent payments received in advance of the month in which they are due.  The amortization of below market lease liabilities is recognized as revenue over the remaining life of the leases (including option periods for leases with below market renewal options) through 2046.  Tenant rent payments received in advance are recognized as revenue in the period to which they apply, which is typically the month following their receipt.

At September 30, 2020 and December 31, 2019, deferred revenue, intangibles, net and other liabilities consisted of the following:

	September 30, 2020		December 31, 2019
Unamortized in-place lease liabilities	$	47,425	$	50,072
Retainages payable and other	2,586		2,254
Tenant rents received in advance	9,591		10,839
Lease liabilities	26,642		27,015
Total	$	86,244	$	90,180

The amortization of below market lease intangibles is included as a component of minimum rent in the accompanying consolidated statements and was $2.6 million and $3.9 million for the nine months ended September 30, 2020 and 2019, respectively.