Intangible Assets and Liabilities

6 Months Ended

Jun. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

The following tables summarize our intangible assets (acquired above-market leases and acquired in-place leases) and intangible liabilities (acquired below-market leases) and the related amortization as of the dates thereof and for the periods set forth below.


	As of
(Amounts in thousands)	June 30, 2025			December 31, 2024
Intangible assets:
Gross amount	$	168,338		$	197,625
Accumulated amortization		(124,614	)		(147,133	)
	$	43,724		$	50,492
Intangible liabilities:
Gross amount	$	96,643		$	114,618
Accumulated amortization		(78,839	)		(93,748	)
	$	17,804		$	20,870


	For the Three Months Ended				For the Six Months Ended
	June 30,				June 30,
(Amounts in thousands)	2025		2024		2025		2024
Amortization of above and below-market leases, net (component of "rental revenue")	$	1,376	$	1,632	$	2,829	$	2,972
Amortization of acquired in-place leases (component of "depreciation and amortization")		3,060		4,340		6,218		9,100

The following table sets forth amortization of acquired above and below-market leases, net and amortization of acquired in-place leases for the six-month period from July 1, 2025 through December 31, 2025, and each of the five succeeding years commencing from January 1, 2026.


(Amounts in thousands)	Above and Below-Market Leases, Net		In-Place Leases
2025	$	2,056	$	4,405
2026		2,896		7,015
2027		2,584		6,371
2028		2,503		6,292
2029		2,066		5,634
2030		1,677		4,545