XML 48 R35.htm IDEA: XBRL DOCUMENT v3.22.4
Intangible Assets and Liabilities (Tables)
12 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of intangible assets and liabilities
At December 31, 2022 and 2021, intangible assets and liabilities included the following ($ in thousands):
20222021
Intangible Assets:
In-place leases, net of accumulated amortization of $131,021 and $134,930 in 2022 and 2021, respectively
$102,080 $129,538 
Below-market ground leases, net of accumulated amortization of $1,860 and $1,449 in 2022 and 2021, respectively
17,393 17,804 
Above-market leases, net of accumulated amortization of $25,085 and $25,423 in 2022 and 2021, respectively
15,093 19,537 
Goodwill1,674 1,674 
     $136,240 $168,553 
Intangible Liabilities:
Below-market leases, net of accumulated amortization of $48,994 and $55,079 in 2022 and 2021
$52,280 $63,223 
Schedule of Aggregate amortization of intangible assets and liabilities Over the next five years and thereafter, aggregate amortization of these intangible assets and liabilities is anticipated to be as follows ($ in thousands):
In-Place LeasesBelow-Market Ground LeasesAbove-Market LeasesBelow-Market LeasesTotal
2023$20,764 $400 $3,338 $(9,386)$15,116 
202418,238 400 2,699 (8,647)12,690 
202515,447 400 2,096 (8,093)9,850 
202612,291 400 1,673 (6,531)7,833 
20279,684 400 1,251 (4,972)6,363 
Thereafter25,656 15,393 4,036 (14,651)30,434 
$102,080 $17,393 $15,093 $(52,280)$82,286 
Weighted average remaining lease term7 years59 years7 years7 years