INTANGIBLES (Tables)

12 Months Ended

Dec. 31, 2024

Intangible Assets, Intangible Liabilities, And Goodwill Disclosure [Abstract]

Schedule of Intangibles

The following is a summary of our intangibles (dollars in thousands):

	As of December 31, 2024			As of December 31, 2023
	Balance		Weighted Average Remaining Amortization Period in Years	Balance		Weighted Average Remaining Amortization Period in Years
Intangible assets:
Above-market lease intangibles (1)	$	124,515	4.3	$	130,371	4.8
In-place lease and other real estate intangibles (2)	1,434,236		8.4	1,317,775		8.3
Acquired lease intangibles	1,558,751			1,448,146
Goodwill	1,044,915		N/A	1,045,176		N/A
Other intangibles (2)	41,190		24.4	34,440		4.8
Accumulated amortization	(1,286,374)		N/A	(1,189,817)		N/A
Net intangible assets	$	1,358,482	8.8	$	1,337,945	8.0
Intangible liabilities:
Below-market lease intangibles (1)	$	269,572	7.0	$	306,499	8.1
Other lease intangibles	13,498		N/A	13,498		N/A
Accumulated amortization	(211,441)		N/A	(241,600)		N/A
Purchase option intangibles	3,568		N/A	3,568		N/A
Net intangible liabilities	$	75,197	7.0	$	81,965	8.1

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(1)     Amortization of above- and below-market lease intangibles is recorded as a decrease and an increase to revenues, respectively, in our Consolidated Statements of Income.

(2)     Amortization of intangibles is recorded in Depreciation and amortization in our Consolidated Statements of Income.

N/A—Not Applicable

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

The following is a summary of the estimated net amortization related to these intangibles for each of the next five years (dollars in thousands):

	Estimated Net Amortization
2025	$	104,042
2026	41,445
2027	14,830
2028	12,723
2029	8,730

Schedule of Goodwill

The table below reflects the carrying amount of goodwill, by segment, as of December 31, 2024 (dollars in thousands):

	Goodwill
OM&R	$	466,967
NNN	318,412
SHOP	259,536
Total goodwill	$	1,044,915