Deferred Charges

12 Months Ended

Dec. 31, 2021

Deferred lease costs and other intangibles, net as of December 31, 2021 and 2020 consist of the following (in thousands):


	2021		2020
Deferred lease costs	$	90,240	$	88,867
Intangible assets:
Above market leases	38,942		39,628
Lease in place value	53,584		55,074
Tenant relationships	33,759		34,694
Other intangibles	40,806		41,117
	257,331		259,380
Accumulated amortization	(183,611)		(174,420)
Deferred lease costs and other intangibles, net	$	73,720	$	84,960

Below market lease intangibles, net of accumulated amortization, included in other liabilities on the consolidated balance sheets as of December 31, 2021 and 2020 were $14.9 million and $16.9 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, 2021, 2020 and 2019 was $10.7 million, $12.4 million and $13.7 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, 2021, 2020 and 2019 was $78,000, $(2.4) million and $(1.0) 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)
2022	$	192	$	4,022
2023	235		3,392
2024	165		3,175
2025	(280)		2,558
2026	(636)		1,947
Total	$	(324)	$	15,094

(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.