During the three months ended March 31, 2021, we acquired three operating properties in asset acquisitions, consisting of FBI – Knoxville, ICE – Louisville, and USAO – Louisville for an aggregate purchase price of $64.1 million. We allocated the aggregate purchase price of these acquisitions based on the estimated fair values of the acquired assets and assumed liabilities as follows (amounts in thousands):

	Total
Real estate
Land	$	4,860
Building		49,807
Acquired tenant improvements		3,326
Total real estate		57,993
Intangible assets
In-place leases		4,490
Acquired leasing commissions		1,293
Above-market leases		301
Total intangible assets		6,084
Intangible liabilities
Below-market leases		(1	)
Total intangible liabilities		(1	)
Purchase price	$	64,076

We did not assume any debt upon acquisition of these properties. The intangible assets and liabilities of operating properties acquired during the three months ended March 31, 2021 have a weighted average amortization period of 7.40 years as of March 31, 2021. During the three months ended March 31, 2021, we included $0.3 million of revenues and less than $0.1 million of net income in our Consolidated Statements of Operations related to the operating properties acquired.

During the three months ended March 31, 2021, we incurred $0.5 million of acquisition-related expenses mainly consisting of internal costs associated with property acquisitions.

Real estate and intangibles consisted of the following as of March 31, 2021 (amounts in thousands):

	Total
Real estate properties, net
Land	$	219,933
Building and improvements		2,157,087
Acquired tenant improvements		80,051
Construction in progress		26,811
Accumulated depreciation		(228,641	)
Total Real estate properties, net		2,255,241
Intangible assets, net
In-place leases		259,223
Acquired leasing commissions		62,643
Above market leases		17,889
Accumulated amortization		(177,404	)
Total Intangible assets, net		162,351
Intangible liabilities, net
Below market leases		(73,602	)
Accumulated amortization		49,864
Total Intangible liabilities, net	$	(23,738	)

The following table summarizes the scheduled amortization of the Company’s acquired above- and below-market lease intangibles for each of the five succeeding years as of March 31, 2021 (amounts in thousands):

	Acquired Above-Market Lease Intangibles		Acquired Below-Market Lease Intangibles
2021	$	1,152	$	(4,164	)
2022		1,452		(4,223	)
2023		1,428		(4,024	)
2024		1,341		(2,877	)
2025		1,286		(2,170	)

Above-market lease amortization reduces Rental income on our Consolidated Statements of Operations and below-market lease amortization increases Rental income on our Consolidated Statements of Operations.