Acquired Intangible Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2018

Acquired Intangible Assets And Liabilities [Abstract]

Summary of Acquired Intangible Assets

The following summarizes our acquired intangible assets (real estate intangibles, comprised of acquired in-place lease value and tenant relationship value along with acquired above-market lease value) and intangible liabilities (acquired below-market lease value) as of December 31, 2018 and 2017.

	Balance as of
(Amounts in thousands)	December 31, 2018			December 31, 2017
Acquired in-place lease value:
Gross amount	$	1,569,401		$	1,473,515
Accumulated amortization	(795,033		)	(613,948		)
Net	$	774,368		$	859,567
Tenant relationship value:
Gross amount	$	2,339,606		$	1,978,277
Accumulated amortization	(291,818		)	(169,919		)
Net	$	2,047,788		$	1,808,358
Acquired above-market leases:
Gross amount	$	277,796		$	294,514
Accumulated amortization	(158,037		)	(110,139		)
Net	$	119,759		$	184,375
Acquired below-market leases:
Gross amount	$	442,535		$	469,119
Accumulated amortization	(242,422		)	(219,654		)
Net	$	200,113		$	249,465

Schedule of Below Market Lease Future Amortization

Estimated annual amortization of acquired below-market lease value, net of acquired above-market lease value, for each of the five succeeding years and thereafter, commencing January 1, 2019 is as follows:

(Amounts in thousands)
2019	$	(15,323	)
2020	(3,915		)
2021	872
2022	7,898
2023	12,045
Thereafter	78,777
Total	$	80,354

Schedule of Finite-Lived Intangible Assets Future Amortization Expense

Estimated annual amortization of acquired in-place lease value for each of the five succeeding years and thereafter, commencing January 1, 2019 is as follows:

(Amounts in thousands)
2019	$	158,095
2020	123,450
2021	98,916
2022	77,056
2023	65,518
Thereafter	251,333
Total	$	774,368

Estimated annual amortization of tenant relationship value for each of the five succeeding years and thereafter, commencing January 1, 2019 is as follows:

(Amounts in thousands)
2019	$	143,818
2020	143,818
2021	143,818
2022	143,818
2023	143,818
Thereafter	1,328,698
Total	$	2,047,788