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Identified Intangible Assets and Liabilities
 12 Months Ended
Dec. 31, 2025
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,
 20252024
Identified intangible assets:  
Gross amount$192,555 $193,217 
Accumulated amortization(81,962)(75,002)
Total, net$110,593 $118,215 
Identified intangible liabilities (included in deferred revenue):
Gross amount$134,499 $134,499 
Accumulated amortization(113,271)(110,982)
Total, net $21,228 $23,517 
Amortization of acquired below-market leases, net of acquired above-market leases, resulted in an increase to rental revenues of $383,000, $3,035,000 and $5,268,000 for the years ended December 31, 2025, 2024 and 2023, respectively. Estimated annual amortization for each of the five succeeding years commencing January 1, 2026 is below:
(Amounts in thousands) 
2026$292 
2027(247)
2028(149)
2029(119)
2030(539)
Amortization of all other identified intangible assets (a component of depreciation and amortization expense) was $5,718,000, $6,930,000 and $8,342,000 for the years ended December 31, 2025, 2024 and 2023, respectively. Estimated annual amortization for each of the five succeeding years commencing January 1, 2026 is below:
(Amounts in thousands) 
2026$5,615 
20275,308 
20284,175 
20293,660 
20303,657