Intangible Assets and Below Market Lease Liabilities

3 Months Ended

Mar. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets and Below Market Lease Liabilities

Intangible Assets and Below Market Lease Liabilities

The following table sets forth total intangible assets and acquisition-related below market lease liabilities, net of accumulated amortization:

	March 31, 2022		December 31, 2021
Assets:
Deferred leasing costs (including lease incentives and above market lease and in-place lease acquisition-related intangible assets)	$	401,693	$	402,013
Less accumulated amortization	(149,486)		(143,111)
	$	252,207	$	258,902
Liabilities (in accounts payable, accrued expenses and other liabilities):
Acquisition-related below market lease liabilities	$	56,955	$	57,703
Less accumulated amortization	(29,597)		(28,978)
	$	27,358	$	28,725

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

	Three Months Ended March 31,
	2022		2021
Amortization of deferred leasing costs and acquisition-related intangible assets (in depreciation and amortization)	$	11,245	$	8,571
Amortization of lease incentives (in rental and other revenues)	$	450	$	448
Amortization of acquisition-related intangible assets (in rental and other revenues)	$	830	$	277
Amortization of acquisition-related below market lease liabilities (in rental and other revenues)	$	(1,367)	$	(1,429)

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

	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 (in Rental and Other Revenues)		Amortization of Acquisition-Related Below Market Lease Liabilities (in Rental and Other Revenues)
April 1 through December 31, 2022	$	32,180	$	1,200	$	2,281	$	(3,927)
2023	37,817		1,502		2,745		(4,824)
2024	32,727		1,357		2,531		(4,111)
2025	25,975		1,281		1,667		(2,594)
2026	22,054		1,155		1,336		(2,294)
Thereafter	75,701		3,904		4,794		(9,608)
	$	226,454	$	10,399	$	15,354	$	(27,358)
Weighted average remaining amortization periods as of March 31, 2022 (in years)	8.1		8.4		7.5		8.2