XML 51 R33.htm IDEA: XBRL DOCUMENT v3.24.0.1
Intangibles - (Tables)
 12 Months Ended
Dec. 31, 2023
Finite-Lived Intangible Assets, Net [Abstract]  
Summary of the carrying amount of intangible assets and liabilities
The following is a summary of the carrying amount of intangible assets and liabilities as of December 31, 2023 and 2022 (in thousands):
 December 31, 2023December 31, 2022
 CostAccumulated
Amortization		NetCostAccumulated
Amortization		Net
Assets      
In-place leases$449,716 $(282,285)$167,431 $445,583 $(241,643)$203,940 
Above-market leases59,752 (35,622)24,130 59,752 (30,096)29,656 
Liabilities      
Below-market leases$36,962 $(14,384)$22,578 $37,002 $(12,621)$24,381 
Summary of the carrying amount of acquired lease intangibles
The following is a summary of the Company’s acquired lease intangible amortization for the years ended December 31, 2023, 2022, and 2021 (in thousands):
 December 31,
 202320222021
Amortization expense related to in-place leases$40,920 $43,526 $34,570 
Decrease of rental income related to above-market leases5,526 5,824 3,808 
Increase of rental income related to below-market leases2,356 2,111 1,398 
Schedule of future amortization of the acquired lease intangibles
Future aggregate net amortization of the Company’s acquired lease intangibles as of December 31, 2023, is as follows (in thousands): 
 Net Decrease (Increase) 
in Revenue		Net Increase in
Expenses
2024$2,887 $35,184 
20252,316 29,663 
20261,161 23,548 
2027994 20,625 
2028922 16,941 
Thereafter(6,728)41,470 
Total$1,552 $167,431