Intangibles

6 Months Ended

Jun. 30, 2022

Intangible assets primarily consist of lease-up intangibles and above market tenant lease intangibles. The following table summarizes the Company’s intangible lease assets (dollars in thousands):


Intangible lease assets	June 30, 2022		December 31, 2021
Gross intangible lease assets	$	802,180	$	797,675
Accumulated depreciation and amortization	(331,315)		(277,915)
Intangible assets, net(1)	$	470,865	$	519,760

Weighted average remaining amortization period in years	6		6

_______________________________________

(1)Excludes intangible assets reported in assets held for sale and discontinued operations, net of $2 million and zero as of June 30, 2022 and December 31, 2021, respectively.

Intangible liabilities consist of below market lease intangibles. The following table summarizes the Company’s intangible lease liabilities (dollars in thousands):


Intangible lease liabilities	June 30, 2022		December 31, 2021
Gross intangible lease liabilities	$	240,733	$	234,917
Accumulated depreciation and amortization	(71,111)		(57,685)
Intangible liabilities, net	$	169,622	$	177,232

Weighted average remaining amortization period in years	8		8

During the six months ended June 30, 2022, in conjunction with the Company’s acquisitions of real estate, the Company acquired intangible assets of $7 million and intangible liabilities of $6 million. The intangible assets and liabilities acquired had a weighted average amortization period at acquisition of 7 years and 11 years, respectively.

During the year ended December 31, 2021, in conjunction with the Company’s acquisitions of real estate, the Company acquired intangible assets of $109 million and intangible liabilities of $57 million. The intangible assets and intangible liabilities acquired each had a weighted average amortization period at acquisition of 9 years.