Intangibles

3 Months Ended

Mar. 31, 2022

Intangibles [Abstract]

Intangibles

Intangibles

Intangible assets primarily consist of lease-up intangibles and above market tenant lease intangibles. The following table summarizes the Company’s intangible lease assets (dollars in thousands):

Intangible lease assets	March 31, 2022		December 31, 2021
Gross intangible lease assets	$	802,078	$	797,675
Accumulated depreciation and amortization	(304,974)		(277,915)
Intangible assets, net	$	497,104	$	519,760
Weighted average remaining amortization period in years	6		6

Intangible liabilities consist of below market lease intangibles. The following table summarizes the Company’s intangible lease liabilities (dollars in thousands):

Intangible lease liabilities	March 31, 2022		December 31, 2021
Gross intangible lease liabilities	$	239,677	$	234,917
Accumulated depreciation and amortization	(64,322)		(57,685)
Intangible liabilities, net	$	175,355	$	177,232
Weighted average remaining amortization period in years	8		8

During the three months ended March 31, 2022, in conjunction with the Company’s acquisitions of real estate, the Company acquired intangible assets of $4 million and intangible liabilities of $5 million. The intangible assets and liabilities acquired had a weighted average amortization period at acquisition of 9 years and 12 years, respectively.

During the year ended December 31, 2021, in conjunction with the Company’s acquisitions of real estate, the Company acquired intangible assets of $109 million and intangible liabilities of $57 million. The intangible assets and intangible liabilities acquired had a weighted average amortization period at acquisition of 9 years.