Real Estate Intangibles

9 Months Ended

Sep. 30, 2011

Real Estate Intangibles [Abstract]

Real Estate Intangibles

4. Real Estate Intangibles

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

	September 30, 2011			December 31, 2010
Assets:
In place lease intangibles	$	279,081		$	182,030
Above market tenant leases		24,882			24,089
Below market ground leases		49,977			46,992
Lease commissions		7,892			4,968
Gross historical cost		361,832			258,079
Accumulated amortization		(121,012	)		(49,145	)
Net book value	$	240,820		$	208,934
Weighted-average amortization period in years		18.6			18.2
Liabilities:
Below market tenant leases	$	64,671		$	57,261
Above market ground leases		5,020			5,020
Gross historical cost		69,691			62,281
Accumulated amortization		(19,964	)		(15,992	)
Net book value	$	49,727		$	46,289
Weighted-average amortization period in years		12.2			14.0