XML 30 R13.htm IDEA: XBRL DOCUMENT v3.22.4
Acquired Lease Intangibles
 12 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Acquired Lease Intangibles Acquired Lease Intangibles
Summary of our Acquired Lease Intangibles

(In thousands)December 31, 2022December 31, 2021
Above-market tenant leases$4,968 $6,406 
Above-market tenant leases - accumulated amortization(2,309)(3,132)
Above-market ground lease where we are the lessor1,152 1,152 
Above-market ground lease - accumulated amortization(275)(258)
Acquired lease intangible assets, net$3,536 $4,168 
Below-market tenant leases$64,851 $58,209 
Below-market tenant leases - accumulated accretion(33,487)(33,499)
Acquired lease intangible liabilities, net$31,364 $24,710 

Impact on the Consolidated Statements of Operations

The table below summarizes the net amortization/accretion related to our above- and below-market leases:
 Year Ended December 31,
(In thousands)202220212020
Net accretion of above- and below-market tenant lease assets and liabilities(1)
$11,272 $9,558 $15,895 
Amortization of an above-market ground lease asset(2)
(17)(17)(17)
Total$11,255 $9,541 $15,878 
_______________________________________________________________________________________
(1)    Recorded as a net increase to office and multifamily rental revenues.
(2)    Recorded as a decrease to office parking and other income.

The table below presents the future net accretion related to our above- and below-market leases at December 31, 2022.
Year ending December 31:Net increase to revenues
(In thousands)
2023$10,564 
20247,993 
20255,466 
20262,665 
20271,392 
Thereafter(252)
Total$27,828