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Identified Intangible Assets and Liabilities
 12 Months Ended
Dec. 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 December 31,
 20242023
Identified intangible assets:  
Gross amount$193,217 $225,671 
Accumulated amortization(75,002)(98,589)
Total, net$118,215 $127,082 
Identified intangible liabilities (included in deferred revenue):
Gross amount$134,499 $206,771 
Accumulated amortization(110,982)(178,282)
Total, net $23,517 $28,489 
Amortization of acquired below-market leases, net of acquired above-market leases, resulted in an increase to rental revenues of $3,035,000, $5,268,000 and $5,178,000 for the years ended December 31, 2024, 2023 and 2022, respectively. Estimated annual amortization for each of the five succeeding years commencing January 1, 2025 is below:
(Amounts in thousands) 
2025$387 
2026290 
2027(249)
2028(150)
2029(119)
Amortization of all other identified intangible assets (a component of depreciation and amortization expense) was $6,930,000, $8,342,000 and $10,516,000 for the years ended December 31, 2024, 2023 and 2022, respectively. Estimated annual amortization for each of the five succeeding years commencing January 1, 2025 is below:
(Amounts in thousands) 
2025$5,719 
20265,615 
20275,308 
20284,175 
20293,660