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Intangible Assets and Liabilities (Tables)
12 Months Ended
Dec. 31, 2021
Goodwill And Intangible Assets Disclosure [Abstract]  
Summary of Intangible Assets and Liabilities

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 December 31,

 

(Amounts in thousands)

 

2021

 

 

2020

 

Intangible assets:

 

 

 

 

 

 

 

 

Gross amount

 

$

371,555

 

 

$

436,851

 

Accumulated amortization

 

 

(252,142

)

 

 

(283,332

)

 

 

$

119,413

 

 

$

153,519

 

Intangible liabilities:

 

 

 

 

 

 

 

 

Gross amount

 

$

151,118

 

 

$

163,977

 

Accumulated amortization

 

 

(105,790

)

 

 

(107,981

)

 

 

$

45,328

 

 

$

55,996

 

 

 

 

For the Year Ended December 31,

 

(Amounts in thousands)

2021

 

 

2020

 

 

2019

 

Amortization of above and below-market leases, net

   (component of "rental revenue")

$

3,070

 

 

$

4,775

 

 

$

11,097

 

Amortization of acquired in-place leases

   (component of "depreciation and amortization")

$

26,507

 

 

$

36,628

 

 

$

46,917

 

 

Schedule of Estimated Annual Amortization of Acquired Below-Market Leases, Net of Acquired Above-Market Leases and In Place Leases

The following table sets forth annual amortization of acquired above and below-market leases, net and amortization of acquired in-place leases for each of the five succeeding years commencing from January 1, 2022.

 

(Amounts in thousands)

For the Year Ending December 31,

 

Above and

Below-Market

Leases, Net

 

 

In-Place Leases

 

2022

 

$

1,344

 

 

$

21,644

 

2023

 

 

5,080

 

 

 

17,705

 

2024

 

 

6,020

 

 

 

14,248

 

2025

 

 

4,674

 

 

 

10,451

 

2026

 

 

2,801

 

 

 

7,896