Intangible Assets and Below Market Lease Liabilities

6 Months Ended

Jun. 30, 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:

	June 30, 2022		December 31, 2021
Assets:
Deferred leasing costs (including lease incentives and above market lease and in-place lease acquisition-related intangible assets)	$	399,218	$	402,013
Less accumulated amortization	(155,594)		(143,111)
	$	243,624	$	258,902
Liabilities (in accounts payable, accrued expenses and other liabilities):
Acquisition-related below market lease liabilities	$	56,888	$	57,703
Less accumulated amortization	(30,849)		(28,978)
	$	26,039	$	28,725

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

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Amortization of deferred leasing costs and acquisition-related intangible assets (in depreciation and amortization)	$	10,933	$	8,626	$	22,178	$	17,197
Amortization of lease incentives (in rental and other revenues)	$	419	$	445	$	869	$	893
Amortization of acquisition-related intangible assets (in rental and other revenues)	$	821	$	241	$	1,651	$	518
Amortization of acquisition-related below market lease liabilities (in rental and other revenues)	$	(1,319)	$	(1,421)	$	(2,686)	$	(2,850)

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)
July 1 through December 31, 2022	$	21,172	$	812	$	1,460	$	(2,608)
2023	38,414		1,536		2,745		(4,824)
2024	33,314		1,392		2,531		(4,111)
2025	26,557		1,316		1,667		(2,594)
2026	22,609		1,190		1,336		(2,294)
Thereafter	76,813		3,966		4,794		(9,608)
	$	218,879	$	10,212	$	14,533	$	(26,039)
Weighted average remaining amortization periods as of June 30, 2022 (in years)	7.9		8.2		7.4		8.1