Intangibles (Tables)

12 Months Ended

Dec. 31, 2015

Intangibles

Schedule of intangible lease assets

The Company’s intangible lease assets were (in thousands):

	December 31,
Intangible lease assets	2015		2014
Lease-up intangibles	$	801,513	$	608,323
Above market tenant lease intangibles		155,048		163,146
Below market ground lease intangibles		57,899		58,939
Gross intangible lease assets		1,014,460		830,408
Accumulated depreciation and amortization		(400,233)		(349,395)
Net intangible lease assets	$	614,227	$	481,013

Schedule of intangible lease liabilities

The Company’s intangible lease liabilities were (in thousands):

	December 31,
Intangible lease liabilities	2015		2014
Below market lease intangibles	$	204,662	$	203,374
Above market ground lease intangibles		6,121		6,121
Gross intangible lease liabilities		210,783		209,495
Accumulated depreciation and amortization		(135,510)		(124,772)
Net intangible lease liabilities	$	75,273	$	84,723

Estimated aggregate amortization of intangible assets and liabilities for each of the five succeeding fiscal years and thereafter

Estimated aggregate amortization of intangible assets and liabilities for each of the five succeeding fiscal years and thereafter follows (in thousands):

	Intangible		Intangible
	Assets		Liabilities
2016	$	97,043	$	17,545
2017		84,552		15,118
2018		68,999		12,413
2019		55,730		9,758
2020		46,308		6,047
Thereafter		261,595		14,392
	$	614,227	$	75,273