Intangible Assets and Liabilities (Tables)

9 Months Ended

Sep. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets

At September 30, 2021 and December 31, 2020, intangible assets included the following (in thousands):

	2021		2020
In-place leases, net of accumulated amortization of $144,765 and $212,413 in 2021 and 2020, respectively	$	119,958	$	145,290
Above-market rents, net of accumulated amortization of $25,771 and $33,548 in 2021 and 2020, respectively	19,524		24,960
Below-market ground lease, net of accumulated amortization of $1,380 and $1,173 in 2021 and 2020, respectively	17,033		17,240
Goodwill	1,674		1,674
	$	158,189	$	189,164

Schedule of Intangible Liabilities

At September 30, 2021 and December 31, 2020, intangible liabilities included the following (in thousands):

	2021		2020
Below-market rents, net of accumulated amortization of $55,946 and $73,612 in 2021 and 2020, respectively	$	54,929	$	68,219
Above-market ground lease, net of accumulated amortization of $389 and $354 in 2021 and 2020, respectively	1,592		1,627
	$	56,521	$	69,846

Aggregate amortization of intangible assets and liabilities

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 Lease		Below-Market Rents		Above-Market Ground Lease
2021 (three months)	$	9,587	$	1,333	$	69	$	(4,248)	$	(12)
2022	25,871		4,575		276		(10,284)		(46)
2023	21,515		3,748		276		(8,662)		(46)
2024	17,484		2,971		276		(7,942)		(46)
2025	13,722		1,975		276		(7,366)		(46)
Thereafter	31,779		4,922		15,860		(16,427)		(1,396)
	$	119,958	$	19,524	$	17,033	$	(54,929)	$	(1,592)