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Identified Intangible Assets and Liabilities
 9 Months Ended
Sep. 30, 2023
Intangible Assets, Net (Excluding Goodwill) [Abstract]  
Identified Intangible Assets and Liabilities Identified Intangible Assets and Liabilities
The following summarizes our identified intangible assets (primarily above-market leases) and liabilities (primarily below-market leases).
(Amounts in thousands)Balance as of
September 30, 2023December 31, 2022
Identified intangible assets:
Gross amount$229,856 $237,777 
Accumulated amortization(99,770)(98,139)
Total, net$130,086 $139,638 
Identified intangible liabilities (included in deferred revenue):
Gross amount$244,396 $244,396 
Accumulated amortization(214,147)(208,592)
Total, net$30,249 $35,804 
Amortization of acquired below-market leases, net of acquired above-market leases, resulted in an increase to rental revenues of $1,356,000 and $1,384,000 for the three months ended September 30, 2023 and 2022, respectively, and $4,083,000 and $3,788,000 for the nine months ended September 30, 2023 and 2022, respectively. Estimated annual amortization for each of the five succeeding years commencing January 1, 2024 is below:
(Amounts in thousands)
2024$2,348 
2025935 
2026292 
2027(154)
2028(43)
Amortization of all other identified intangible assets (a component of depreciation and amortization expense) was $1,942,000 and $1,987,000 for the three months ended September 30, 2023 and 2022, respectively, and $5,914,000 and $8,529,000 for the nine months ended September 30, 2023 and 2022, respectively. Estimated annual amortization for each of the five succeeding years commencing January 1, 2024 is below:
(Amounts in thousands)
2024$7,004 
20255,954 
20265,760 
20275,325 
20284,166