Intangible Assets and Liabilities

6 Months Ended

Jun. 30, 2011

Intangible Assets and Liabilities [Abstract]

Intangible Assets and Liabilities

5.      Intangible Assets and Liabilities

The following table sets forth total intangible assets and liabilities, net of accumulated amortization:

	June 30, 2011			December 31, 2010
Assets:
Deferred financing costs	$	17,295		$	16,412
Less accumulated amortization		(7,996	)		(7,054	)
		9,299			9,358
Deferred leasing costs (including lease incentives and acquisition-related intangible assets)		130,415			127,949
Less accumulated amortization		(54,546	)		(52,306	)
		75,869			75,643
Deferred financing and leasing costs, net	$	85,168		$	85,001
Liabilities (in accounts payable, accrued expenses and other liabilities):
Acquisition-related intangible liabilities	$	720		$	658
Less accumulated amortization		(226	)		(125	)
	$	494		$	533

The following table sets forth amortization of intangible assets and liabilities:

	Three Months Ended June 30,				Six Months Ended June 30,
	2011		2010		2011		2010
Amortization of deferred financing costs	$	821	$	835	$	1,642	$	1,670
Amortization of deferred leasing costs and acquisition-related intangible assets (in depreciation and amortization)	$	4,401	$	3,817	$	8,757	$	7,583
Amortization of lease incentives (in rental and other revenues)	$	303	$	276	$	641	$	537
Amortization of acquisition-related intangible assets and liabilities (in rental and other revenues)	$	166	$	36	$	327	$	76

The following table sets forth scheduled future amortization of intangible assets and liabilities:

	Amortization of Deferred Financing Costs		Amortization of Deferred Leasing Costs and Acquisition-Related Intangible Assets (in Depreciation and Amortization)		Amortization of Lease Incentives (in Rental and Other Revenues)		Amortization of Acquisition-Related Intangible Assets and Liabilities (in Rental and Other Revenues)
July 1, 2011 through December 31, 2011	$	1,724	$	8,653	$	613	$	320
2012		3,093		15,087		1,141		561
2013		1,486		12,106		983		390
2014		1,098		9,398		819		298
2015		1,098		6,966		603		188
Thereafter		800		14,690		2,088		471
	$	9,299	$	66,900	$	6,247	$	2,228

The weighted average remaining amortization periods for deferred financing costs, deferred leasing costs and acquisition-related intangible assets (in depreciation and amortization), lease incentives (in rental and other revenues) and acquisition-related intangible assets and liabilities (in rental and other revenues) were 3.3 years, 6.1 years, 7.9 years and 6.3 years, respectively, as of June 30, 2011.

In connection with the acquisition of a medical office property in Raleigh, NC in the second quarter of 2011, we recorded $0.1 million of above market lease intangible assets and $0.9 million of in-place lease intangible assets with weighted average amortization periods of 3.0 years each at the date of the acquisition.