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Intangible Assets and Liabilities
6 Months Ended
Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS AND LIABILITIES INTANGIBLE ASSETS AND LIABILITIES
At June 30, 2021 and December 31, 2020, intangible assets included the following (in thousands):
20212020
In-place leases, net of accumulated amortization of $131,911 and $212,413
in 2021 and 2020, respectively
$117,350 $145,290 
Above-market rents, net of accumulated amortization of $23,845 and $33,548
in 2021 and 2020, respectively
19,792 24,960 
Below-market ground lease, net of accumulated amortization of $1,311 and
$1,173 in 2021 and 2020, respectively
17,102 17,240 
      Goodwill1,674 1,674 
$155,918 $189,164 
At June 30, 2021 and December 31, 2020, intangible liabilities included the following (in thousands):
20212020
Below-market rents, net of accumulated amortization of $50,226 and $73,612 in 2021 and 2020, respectively
$53,709 $68,219 
Above-market ground lease, net of accumulated amortization of $378 and $354 in 2021 and 2020, respectively
1,604 1,627 
$55,313 $69,846 
Aggregate net amortization expense related to intangible assets and liabilities for the three and six months ended June 30, 2021 was $8.3 million and $16.3 million, respectively. Aggregate net amortization expense related to intangible assets and liabilities for three and six months ended June 30, 2020 was $11.4 million and $23.5 million, respectively. Over the next five years and thereafter, aggregate amortization of these intangible assets and liabilities is anticipated to be as follows (in thousands):
In-Place 
Leases
Above-Market
Rents
Below-Market Ground LeaseBelow-Market
Rents
Above-Market
Ground Lease
2021 (six months)$19,519 $2,651 $138 $(8,616)$(23)
202225,432 4,393 276 (10,170)(46)
202320,591 3,564 276 (8,375)(46)
202416,079 2,787 276 (7,358)(46)
202512,258 1,791 276 (6,711)(46)
Thereafter23,471 4,606 15,860 (12,479)(1,397)
$117,350 $19,792 $17,102 $(53,709)$(1,604)
The carrying amount of goodwill did not change during the three and six months ended June 30, 2021 and 2020.