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Intangible Assets and Liabilities
 12 Months Ended
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS AND LIABILITIES INTANGIBLE ASSETS AND LIABILITIES
At December 31, 2023 and 2022, intangible assets and liabilities included the following ($ in thousands):
20232022
Intangible Assets:
In-place leases, net of accumulated amortization of $135,433 and $131,021 in 2023 and 2022, respectively
$80,117 $102,080 
Below-market ground leases, net of accumulated amortization of $2,260 and $1,860 in 2023 and 2022, respectively
16,992 17,393 
Above-market leases, net of accumulated amortization of $24,918 and $25,085 in 2023 and 2022, respectively
11,884 15,093 
Goodwill1,674 1,674 
     $110,667 $136,240 
Intangible Liabilities:
Below-market leases, net of accumulated amortization of $50,475 and $48,994 in 2023 and 2022
$42,193 $52,280 

For the years ended December 31, 2023, 2022, and 2021, the amortization of the above asset and liabilities are recorded as follows ($ in thousands):
202320222021
Revenues:
Rental property revenues, net (Below-market and Above-market leases)$6,876 $6,446 $11,363 
Expenses:
Depreciation and amortization (In-place leases)21,964 27,458 40,959 
Rental property operating and other expenses (Below-market ground leases)400 411 231 
Aggregate net amortization expense related to intangible assets and liabilities was $15.5 million, $21.4 million, and $32.7 million for the years ended December 31, 2023, 2022, and 2021, respectively. Over the next five years and thereafter, aggregate amortization of these intangible assets and liabilities is anticipated to be as follows ($ in thousands):
In-Place LeasesBelow-Market Ground LeasesAbove-Market LeasesBelow-Market LeasesTotal
2024$17,055 $400 $2,313 $(8,242)$11,526 
202514,863 400 2,112 (7,745)9,630 
202612,354 400 1,720 (6,517)7,957 
20279,770 400 1,310 (4,982)6,498 
20286,955 359 1,201 (3,845)4,670 
Thereafter19,120 15,033 3,228 (10,862)26,519 
$80,117 $16,992 $11,884 $(42,193)$66,800 
Weighted average remaining lease term7 years58 years7 years7 years