Acquired Lease Intangibles (Tables)

6 Months Ended

Jun. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Acquired Lease Intangibles

Summary of our Acquired Lease Intangibles

(In thousands)	June 30, 2023		December 31, 2022
Above-market tenant leases	$	4,891	$	4,968
Above-market tenant leases - accumulated amortization	(2,517)		(2,309)
Above-market ground lease where we are the lessor	1,152		1,152
Above-market ground lease - accumulated amortization	(283)		(275)
Acquired lease intangible assets, net	$	3,243	$	3,536
Below-market tenant leases	$	50,617	$	64,851
Below-market tenant leases - accumulated accretion	(25,241)		(33,487)
Acquired lease intangible liabilities, net	$	25,376	$	31,364

Schedule of Net Amortization or Accretion of Above- and Below-Market Leases

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)	2023		2022		2023		2022
Net accretion of above- and below-market tenant lease assets and liabilities(1)	$	2,662	$	2,914	$	5,703	$	4,715
Amortization of an above-market ground lease asset(2)	(4)		(4)		(8)		(8)
Total	$	2,658	$	2,910	$	5,695	$	4,707

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(1)    Recorded as a net increase to office and multifamily rental revenues.

(2)    Recorded as a decrease to office parking and other income.