Prepaid Expenses And Other Assets

6 Months Ended

Jun. 30, 2011

Prepaid Expenses And Other Assets

Prepaid Expenses And Other Assets

NOTE 7. PREPAID EXPENSES AND OTHER ASSETS

Prepaid expenses and other assets consist of the following:

	June 30, 2011		December 31, 2010
	(In thousands)
Leasing commissions, net of accumulated amortization of $15,316 and $13,750, respectively	$	16,380	$	11,335
Acquired above market leases, net		17,606		12,124
Acquired in-place leases, net		26,681		10,207
Lease incentives, net of accumulated amortization of $1,665 and $1,480, respectively		2,035		2,220
Other intangible assets, net of accumulated amortization of $2,806 and $1,325, respectively		2,116		364
Debt issuance costs, net of accumulated amortization of $1,896 and $2,469, respectively		4,004		2,233
Prepaid expenses, deposits, and other		1,093		5,883
Total prepaid expenses and other assets	$	69,915	$	44,366

Lease incentives are amortized over the term of the related lease and included as a reduction of rental income in the statement of operations. Prepaid expenses and deposits included $5.3 million in costs related to the Offering at December 31, 2010, which were recorded as a reduction of capital at the time of the Offering.