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Intangible Assets and Liabilities (Tables)
3 Months Ended
Mar. 31, 2022
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

 

(Amounts in thousands)

March 31, 2022

 

 

December 31, 2021

 

Intangible assets:

 

 

 

 

 

 

 

Gross amount

$

338,930

 

 

$

371,555

 

Accumulated amortization

 

(226,822

)

 

 

(252,142

)

 

$

112,108

 

 

$

119,413

 

Intangible liabilities:

 

 

 

 

 

 

 

Gross amount

$

138,726

 

 

$

151,118

 

Accumulated amortization

 

(95,530

)

 

 

(105,790

)

 

$

43,196

 

 

$

45,328

 

 

 

 

 

 

For the Three Months Ended March 31,

 

(Amounts in thousands)

2022

 

 

2021

 

Amortization of above and below-market leases, net

   (component of "rental revenue")

$

358

 

 

$

855

 

Amortization of acquired in-place leases

   (component of "depreciation and amortization")

 

5,531

 

 

 

7,219

 

 

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 amortization of acquired above and below-market leases, net and amortization of acquired in-place leases for the nine-month period from April 1, 2022 through December 31, 2022, and each of the five succeeding years commencing from January 1, 2023.

 

(Amounts in thousands)

For the Year Ending December 31,

 

Above and

Below-Market

Leases, Net

 

 

In-Place Leases

 

2022

 

$

985

 

 

$

16,113

 

2023

 

 

5,080

 

 

 

17,705

 

2024

 

 

6,020

 

 

 

14,248

 

2025

 

 

4,674

 

 

 

10,451

 

2026

 

 

2,801

 

 

 

7,896

 

2027

 

 

2,489

 

 

 

7,252