Intangible Assets and Liabilities (Tables)

3 Months Ended

Mar. 31, 2022

Identified Intangibles, Net [Abstract]

Schedule of Intangible Assets and Liabilities

Intangible assets and liabilities consisted of the following as of March 31, 2022 and December 31, 2021, respectively (in thousands, except with respect to the weighted average remaining amortization terms):

	March 31, 2022			December 31, 2021
	Balance		Weighted Average Remaining Amortization in Years	Balance		Weighted Average Remaining Amortization in Years
Assets:
In place leases	$	341,978	9.3	$	349,863	9.3
Tenant relationships	51,778		10.9	54,851		10.8
Above market leases	20,824		6.8	21,537		6.9
	414,580			426,251
Accumulated amortization	(211,034)			(213,801)
Total	$	203,546	9.3	$	212,450	9.3
Liabilities:
Below market leases	$	54,040	14.5	$	55,073	14.3
Accumulated amortization	(24,039)			(23,742)
Total	$	30,001	14.5	$	31,331	14.3

Summary of Net Intangible Amortization

The following is a summary of the net intangible amortization for the three months ended March 31, 2022 and 2021, respectively (in thousands):

	Three Months Ended March 31,
	2022		2021
Amortization recorded against rental income related to above and (below) market leases	$	(649)	$	(591)
Amortization expense related to in place leases and tenant relationships	10,315		11,886