Deferred Costs, Acquired Lease Intangibles and Goodwill

Deferred costs, net consisted of the following (amounts in thousands):



	March 31, 2015					December 31, 2014
	Gross Amount		Accumulated Amortization			Gross Amount		Accumulated Amortization
Leasing costs	$	112,986	$	(31,487	)	$	100,653	$	(33,439	)
Financing costs	18,824		(4,772		)	17,334		(4,336		)
Total deferred costs	$	131,810	$	(36,259	)	$	117,987	$	(37,775	)

Amortization expense related to deferred leasing costs was $2.9 million and $2.4 million for the three months ended March 31, 2015 and 2014, respectively, and amortization expense related to deferred financing costs was $2.4 million and $1.1 million for the three months ended March 31, 2015 and 2014, respectively.

Amortizing acquired intangible assets and liabilities consisted of the following (amounts in thousands):



	March 31, 2015						December 31, 2014
	Gross Amount			Accumulated Amortization			Gross Amount			Accumulated Amortization
Acquired below-market ground leases	$	396,916		$	(7,151	)	$	396,916		$	(5,029	)
Acquired in-place lease value and deferred leasing costs	300,725			(92,680		)	304,916			(83,540		)
Acquired above-market leases	84,213			(19,172		)	84,633			(15,761		)
Acquired below-market leases	(168,372		)	38,636			(169,805		)	30,946

Amortization expense related to acquired lease intangibles was $10.3 million and $5.2 million for the three months ended March 31, 2015 and 2014, respectively. Rental revenue related to the amortization of below-market leases, net of above-market leases, was $5.3 million and $1.9 million for the three months ended March 31, 2015 and 2014, respectively.

As of March 31, 2015, we had goodwill of $491.5 million. Goodwill was allocated $227.5 million to the observatory reportable segment and $264.0 million to the real estate segment.