Deferred Charges

12 Months Ended

Dec. 31, 2020

Deferred Costs [Abstract]

Deferred Charges

Deferred Charges

Deferred lease costs and other intangibles, net as of December 31, 2020 and 2019 consist of the following (in thousands):

	2020		2019
Deferred lease costs	$	88,867	$	85,444
Intangible assets:
Above market leases	39,628		46,252
Lease in place value	55,074		58,195
Tenant relationships	34,694		37,221
Other intangibles	41,117		41,531
	259,380		268,643
Accumulated amortization	(174,420)		(171,931)
Deferred lease costs and other intangibles, net	$	84,960	$	96,712

Below market lease intangibles, net of accumulated amortization, included in other liabilities on the consolidated balance sheets as of December 31, 2020 and 2019 were $16.9 million and $19.5 million, respectively.

Amortization of deferred lease costs and other intangibles, excluding above and below market leases, included in depreciation and amortization for the years ended December 31, 2020, 2019 and 2018 was $12.4 million, $13.7 million and $15.1 million, respectively.

Amortization of above and below market lease intangibles recorded as an increase or (decrease) in base rentals for the years ended December 31, 2020, 2019 and 2018 was $(2.4) million, $(1.0) million and $(2.1) million, respectively.

Estimated aggregate amortization of net above and below market leases and other intangibles for each of the five succeeding years is as follows (in thousands):

Year	Above/(Below) Market Leases, Net (1)		Deferred Lease Costs and Other Intangibles (2)
2021	$	190	$	4,403
2022	176		4,117
2023	239		3,486
2024	170		3,260
2025	(296)		2,627
Total	$	479	$	17,893

(1)These net amounts are recorded as a reduction (increase) of base rentals.

(2)These amounts are recorded as an increase in depreciation and amortization.