XML 27 R12.htm IDEA: XBRL DOCUMENT v3.20.2
Acquired Lease Intangibles
 6 Months Ended
Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Acquired Lease Intangibles Acquired Lease Intangibles
Summary of our Acquired Lease Intangibles

 (In thousands)June 30, 2020December 31, 2019
Above-market tenant leases$7,045  $7,220  
Above-market tenant leases - accumulated amortization(2,228) (1,741) 
Above-market ground lease where we are the lessor1,152  1,152  
Above-market ground lease - accumulated amortization(233) (224) 
Acquired lease intangible assets, net$5,736  $6,407  
Below-market tenant leases$98,979  $102,583  
Below-market tenant leases - accumulated accretion(55,853) (50,216) 
Acquired lease intangible liabilities, net$43,126  $52,367  
        

Impact on the Consolidated Statements of Operations

The table below summarizes the net amortization/accretion related to our above- and below-market leases:

 Three Months Ended June 30,Six Months Ended June 30,
 (In thousands)2020201920202019
Net accretion of above- and below-market tenant lease assets and liabilities(1)
$4,320  $4,400  $8,579  $8,524  
Amortization of an above-market ground lease asset(2)
(5) (4) (8) (8) 
Total$4,315  $4,396  $8,571  $8,516  
______________________________________________
(1) Recorded as a net increase to office and multifamily rental revenues.
(2) Recorded as a decrease to office parking and other income.