Acquired Intangible Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2020

Acquired Intangible Assets and Liabilities

Summary of Acquired Intangible Assets

	Balance as of
(Amounts in thousands)	December 31, 2020		December 31, 2019
Intangible Assets:
Customer relationship value:
Gross amount	$	2,993,093	$	1,845,949
Accumulated amortization		(570,886)		(400,570)
Net	$	2,422,207	$	1,445,379
Acquired in-place lease value:
Gross amount	$	1,382,563	$	1,357,190
Accumulated amortization		(1,004,421)		(899,071)
Net	$	378,142	$	458,119
Other (1):
Gross amount	$	57,370	$	—
Accumulated amortization		(7,107)		—
Net	$	50,263	$	—
Acquired above-market leases (2):
Gross amount	$	280,216	$	279,048
Accumulated amortization		(236,922)		(204,233)
Net	$	43,294	$	74,815
Acquired below-market leases (3):
Gross amount	$	401,539	$	396,509
Accumulated amortization		(270,649)		(247,735)
Net	$	130,890	$	148,774

Schedule of Estimated Annual Amortization of Below Market Leases

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, 2021 is as follows:

(Amounts in thousands)
2021	$	(2,865)
2022		4,977
2023		9,741
2024		10,393
2025		9,631
Thereafter		55,721
Total	$	87,598

Schedule of Estimated Annual Amortization of Acquired of Intangible Assets

Estimated annual amortization of acquired in-place lease value for each of the five succeeding years and thereafter, commencing January 1, 2021 is as follows:

(Amounts in thousands)
2021	$	79,868
2022		60,129
2023		48,911
2024		41,604
2025		35,765
Thereafter		111,865
Total	$	378,142

Estimated annual amortization of customer relationship value for each of the five succeeding years and thereafter, commencing January 1, 2021 is as follows:

(Amounts in thousands)
2021	$	177,383
2022		176,611
2023		175,943
2024		175,363
2025		174,861
Thereafter		1,542,046
Total	$	2,422,207