Acquired Intangible Assets and Liabilities (Tables)

3 Months Ended

Mar. 31, 2018

Acquired Intangible Assets And Liabilities [Abstract]

Summary of Acquired Intangible Assets

The following summarizes our acquired intangible assets (real estate intangibles, comprised of acquired in-place lease value and tenant relationship value along with acquired above-market lease value) and intangible liabilities (acquired below-market lease value) as of March 31, 2018 and December 31, 2017.

	Balance as of
(Amounts in thousands)	March 31, 2018			December 31, 2017
Real Estate Intangibles:
Acquired in-place lease value:
Gross amount	$	1,478,934		$	1,473,515
Accumulated amortization	(666,047		)	(613,948		)
Net	$	812,887		$	859,567
Tenant relationship value:
Gross amount	$	1,987,017		$	1,978,277
Accumulated amortization	(201,688		)	(169,919		)
Net	$	1,785,329		$	1,808,358
Acquired above-market leases:
Gross amount	$	285,963		$	294,514
Accumulated amortization	(120,395		)	(110,139		)
Net	$	165,568		$	184,375
Acquired below-market leases:
Gross amount	$	451,440		$	469,119
Accumulated amortization	(225,766		)	(219,654		)
Net	$	225,674		$	249,465

Schedule of Estimated Annual Amortization of Below Market Leases

Estimated annual amortization of acquired below-market leases, net of acquired above-market leases, for each of the five succeeding years and thereafter, commencing April 1, 2018 is as follows:

(Amounts in thousands)
Remainder of 2018	$	(31,936	)
2019	(15,513		)
2020	(3,145		)
2021	2,108
2022	9,118
Thereafter	99,474
Total	$	60,106

Schedule of Estimated Annual Amortization of Acquired of Intangible Assets

Estimated annual amortization of acquired in-place lease value for each of the five succeeding years and thereafter, commencing April 1, 2018 is as follows:

(Amounts in thousands)
Remainder of 2018	$	153,591
2019	148,067
2020	112,195
2021	87,579
2022	65,627
Thereafter	245,828
Total	$	812,887

Estimated annual amortization of tenant relationship value for each of the five succeeding years and thereafter, commencing April 1, 2018 is as follows:

(Amounts in thousands)
Remainder of 2018	$	110,349
2019	142,181
2020	141,799
2021	141,799
2022	141,799
Thereafter	1,107,402
Total	$	1,785,329