Real Estate Intangibles (Tables)

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Real Estate Intangibles Excluding Those Related to Ground Lease or Classified as Held For Sale

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):

	September 30, 2023		December 31, 2022
Assets:
In place lease intangibles	$	1,805,745	$	1,817,580
Above market tenant leases	66,707		57,203
Lease commissions	89,347		70,675
Gross historical cost	1,961,799		1,945,458
Accumulated amortization	(1,575,962)		(1,484,048)
Net book value	$	385,837	$	461,410
Liabilities:
Below market tenant leases	$	71,087	$	77,985
Accumulated amortization	(47,171)		(52,701)
Net book value	$	23,916	$	25,284

Summary of Real Estate Intangible Amortization Income (Expense)

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

	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Rental income related to (above)/below market tenant leases, net	$	152	$	358	$	327	$	1,094
Amortization related to in place lease intangibles and lease commissions	(47,556)		(60,176)		(157,481)		(158,364)