Identified Intangible Assets and Liabilities

3 Months Ended

Mar. 31, 2024

Intangible Assets, Net (Excluding Goodwill) [Abstract]

Identified Intangible Assets and Liabilities

Identified Intangible Assets and Liabilities

The following summarizes our identified intangible assets (primarily in-place and above-market leases) and liabilities (primarily below-market leases).

(Amounts in thousands)	Balance as of
	March 31, 2024		December 31, 2023
Identified intangible assets:
Gross amount	$	226,528	$	225,671
Accumulated amortization	(101,641)		(98,589)
Total, net	$	124,887	$	127,082
Identified intangible liabilities (included in deferred revenue):
Gross amount	$	210,746	$	206,771
Accumulated amortization	(183,432)		(178,282)
Total, net	$	27,314	$	28,489

Amortization of acquired below-market leases, net of acquired above-market leases, resulted in an increase to rental revenues of $693,000 and $1,367,000 for the three months ended March 31, 2024 and 2023, respectively.

Amortization of all other identified intangible assets (a component of depreciation and amortization expense) was $1,711,000 and $1,987,000 for the three months ended March 31, 2024 and 2023, respectively.