Deferred Leasing Intangibles (Tables)

3 Months Ended

Mar. 31, 2013

Deferred Leasing Intangibles

Schedule of deferred leasing intangibles included in total assets

Deferred leasing intangibles included in total assets consisted of the following (in thousands):

	March 31, 2013			December 31, 2012
In-place leases	$	115,852		$	108,363
Less: Accumulated amortization	(34,238		)	(28,289		)
In-place leases, net	81,614			80,074
Above market leases	51,064			50,699
Less: Accumulated amortization	(12,199		)	(10,362		)
Above market leases, net	38,865			40,337
Tenant relationships	64,834			61,050
Less: Accumulated amortization	(13,837		)	(11,298		)
Tenant relationships, net	50,997			49,752
Leasing commissions	25,664			23,376
Less: Accumulated amortization	(6,897		)	(5,984		)
Leasing commissions, net	18,767			17,392
Total deferred leasing intangibles, net	$	190,243		$	187,555

Schedule of deferred leasing intangibles included in total liabilities

Deferred leasing intangibles included in total liabilities consisted of the following (in thousands):

	March 31, 2013			December 31, 2012
Below market leases	$	10,329		$	9,878
Less: Accumulated amortization	(3,477		)	(3,007		)
Total deferred leasing intangibles, net	$	6,852		$	6,871

Schedule of amortization related to deferred leasing intangibles over the next five years

Amortization related to deferred leasing intangibles over the next five years is as follows (in thousands):

	Estimated Net Amortization of In-Place Leases, Leasing Commissions and Tenant Relationships		Net Decrease to Rental Income Related to Above and Below Market Leases
Remainder of 2013	$	35,334	$	5,285
2014	29,953		4,802
2015	23,589		5,088
2016	19,642		4,755
2017	15,405		3,525