XML 36 R17.htm IDEA: XBRL DOCUMENT v2.4.0.6
Other Assets, Net
12 Months Ended
Dec. 31, 2011
Other Assets, Net
10. Other Assets, Net

Other assets consisted of the following:
 
   
December 31,
 
   
2011
   
2010
 
   
(In thousands)
 
Deferred leasing costs, net
  $ 14,895     $ 14,575  
Deferred financing costs, net
    5,565       6,703  
Lease intangible assets, net
    13,702       7,969  
Straight-line rent receivable, net
    16,030       17,864  
Prepaid expenses and other deferred expenses, net
    6,702       8,242  
Other, net
    2,342       2,672  
Other assets, net
  $ 59,236     $ 58,025  
                 
 
The remaining weighted-average amortization period as of December 31, 2011, is 4.5 years for intangible assets attributable to lease origination costs and for above market leases.  These assets are being amortized over the lives of the applicable leases to amortization expense and as a reduction to minimum rent revenue, respectively, over the initial terms of the respective leases.  Amortization of the intangible lease asset resulted in an expense and reduction of revenue of approximately $0.6 million, $0.3 million, and $0.1 million for the years ended December 31, 2011, 2010, and 2009, respectively.
 
Included in accounts payable and accrued expenses at December 31, 2011 and 2010 were intangibles related to below market leases of $7.7 million and $3.5 million, respectively.  The lease-related intangible liabilities are being accreted over the applicable terms of the acquired leases, which resulted in an increase of revenue of $0.6 million, $0.4 million, and $0.2 million for the years ended December 31, 2011, 2010 and 2009, respectively.
 
The following table represents estimated aggregate amortization expense related to other assets as of December 31, 2011:
 
       
Year Ending December 31,
     
   
(In thousands)
 
     2012
  $ 9,013  
     2013
    7,681  
     2014
    5,106  
     2015
    3,268  
     2016
    2,099  
     Thereafter
    9,336  
         Total (1)
  $ 36,503  
         
   
(1) Excludes straight-line rent receivable of $16.0 million.