Real Estate Intangibles

6 Months Ended

Jun. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Real Estate Intangibles

Real Estate Intangibles 

The following is a summary of our real estate intangibles, excluding those related to ground leases or classified as held for sale, as of the dates indicated (dollars in thousands):

	June 30, 2023		December 31, 2022
Assets:
In place lease intangibles	$	1,802,091	$	1,817,580
Above market tenant leases	66,354		57,203
Lease commissions	81,904		70,675
Gross historical cost	1,950,349		1,945,458
Accumulated amortization	(1,552,953)		(1,484,048)
Net book value	$	397,396	$	461,410
Liabilities:
Below market tenant leases	$	82,084	$	77,985
Accumulated amortization	(56,784)		(52,701)
Net book value	$	25,300	$	25,284

The following is a summary of real estate intangible amortization income (expense) for the periods presented (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Rental income related to (above)/below market tenant leases, net	$	130	$	351	$	175	$	736
Amortization related to in place lease intangibles and lease commissions	(53,774)		(50,194)		(109,925)		(98,188)