Deferred Charges

12 Months Ended

Dec. 31, 2022

Deferred lease costs and other intangibles, net as of December 31, 2022 and 2021 consist of the following (in thousands):


	2022		2021
Deferred lease costs	$	89,103	$	90,240
Intangible assets:
Above market leases	36,085		38,942
Lease in place value	52,280		53,584
Tenant relationships	32,912		33,759
Other intangibles	40,651		40,806
	251,031		257,331
Accumulated amortization	(192,457)		(183,611)
Deferred lease costs and other intangibles, net	$	58,574	$	73,720

Below market lease intangibles, net of accumulated amortization, included in other liabilities on the consolidated balance sheets as of December 31, 2022 and 2021 were $13.3 million and $14.9 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, 2022, 2021 and 2020 was $11.6 million, $10.7 million and $12.4 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, 2022, 2021 and 2020 was $(1.0) million, $0.1 million and $(2.4) 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)		Lease Cost Intangibles (2)
2023	$	54	$	3,050
2024	(16)		2,865
2025	(424)		2,303
2026	(745)		1,727
2027	(771)		1,562
Total	$	(1,902)	$	11,507

(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.