ACQUIRED IN-PLACE LEASES AND ABOVE/BELOW MARKET LEASES

12 Months Ended

Mar. 31, 2013

ACQUIRED IN-PLACE LEASES AND ABOVE/BELOW MARKET LEASES

NOTE 2. ACQUIRED IN-PLACE LEASES AND ABOVE/BELOW MARKET LEASES

The following summarizes our acquired lease intangibles and leasing costs, which are included in other assets and other liabilities and deferred credits, as of March 31, 2013 and December 31, 2012 (in thousands):

	March 31, 2013			December 31, 2012
In-place leases	$	71,945		$	72,598
Accumulated amortization		(40,402	)		(38,290	)
Above market leases		30,654			32,846
Accumulated amortization		(20,236	)		(21,363	)
Acquired lease intangible assets, net	$	41,961		$	45,791
Below market leases	$	79,933		$	80,071
Accumulated accretion		(27,129	)		(25,721	)
Acquired lease intangible liabilities, net	$	52,804		$	54,350