Intangible Assets, Liabilities, and Deferred Leasing Costs |
Intangible Assets, Liabilities, and Deferred Leasing Costs The following table summarizes the Company’s identified intangible assets, liabilities, and deferred leasing costs as of December 31, 2020 and 2019: | | | | | | | | | | | | | As of December 31, | | 2020 | | 2019 | Intangible assets: | | | | In-place leases | $ | 146,484 | | | $ | 158,002 | | Above-market leases | 15,124 | | | 16,625 | | Intangible assets | 161,608 | | | 174,627 | | Accumulated amortization: | | | | In-place leases | (58,571) | | | (51,471) | | Above-market leases | (7,315) | | | (6,796) | | Accumulated amortization | (65,886) | | | (58,267) | | Intangible assets, net | $ | 95,722 | | | $ | 116,360 | | | | | | Intangible liabilities: | | | | Below-market leases | $ | 64,963 | | | $ | 69,161 | | Accumulated amortization | (30,091) | | | (26,519) | | Intangible liabilities, net | $ | 34,872 | | | $ | 42,642 | | | | | | Deferred leasing costs: | | | | Leasing costs | $ | 15,029 | | | $ | 14,806 | | Accumulated amortization | (4,298) | | | (3,896) | | Deferred leasing costs, net | $ | 10,731 | | | $ | 10,910 | |
The following table provides a summary of the amortization related to intangible assets, liabilities, and deferred leasing costs for the years ended December 31, 2020, 2019 and 2018: | | | | | | | | | | | | | | | | | | | Year ended December 31, | | 2020 | | 2019 | | 2018 | Intangible assets: | | | | | | In-place leases | $ | 22,994 | | | $ | 24,601 | | | $ | 22,523 | | Above-market leases | 2,446 | | | 2,613 | | | 3,036 | | Amortization of intangible assets | $ | 25,440 | | | $ | 27,214 | | | $ | 25,559 | | Intangible liabilities: | | | | | | Amortization of below-market leases | $ | 9,468 | | | $ | 8,736 | | | $ | 8,570 | | Deferred leasing costs: | | | | | | Amortization of deferred leasing costs | $ | 1,913 | | | $ | 2,311 | | | $ | 2,036 | |
The following table provides a summary of the amortization during the next five years and thereafter related to deferred costs and intangible assets and liabilities as of December 31, 2020: | | | | | | | | | | | | | | | | | | | | | | | | | | | Year ending December 31, | | In-place leases | | Above market leases | | Deferred leasing costs | | Below market leases | 2021 | | $ | 17,054 | | | $ | 1,804 | | | $ | 2,842 | | | $ | 6,276 | | 2022 | | 13,151 | | | 1,304 | | | 1,619 | | | 4,798 | | 2023 | | 11,124 | | | 1,079 | | | 1,389 | | | 3,697 | | 2024 | | 9,551 | | | 834 | | | 1,114 | | | 2,993 | | 2025 | | 8,331 | | | 627 | | | 978 | | | 2,558 | | Thereafter | | 28,702 | | | 2,161 | | | 2,789 | | | 14,550 | | Total | | $ | 87,913 | | | $ | 7,809 | | | $ | 10,731 | | | $ | 34,872 | |
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