Annual report pursuant to Section 13 and 15(d)

Deferred Charges (Tables)

v3.19.3.a.u2
Deferred Charges (Tables)
12 Months Ended
Dec. 31, 2019
Deferred Costs [Abstract]  
Schedule of Deferred Charges

Deferred lease costs and other intangibles, net as of December 31, 2019 and 2018 consist of the following (in thousands):
 
 
2019
 
2018
Deferred lease costs
 
$
85,444

 
$
87,590

Intangible assets:
 
 
 
 
Above market leases
 
46,252

 
49,869

Lease in place value
 
58,195

 
64,152

Tenant relationships
 
37,221

 
40,690

Other intangibles
 
41,531

 
48,639

 
 
268,643

 
290,940

Accumulated amortization
 
(171,931
)
 
(174,066
)
Deferred lease costs and other intangibles, net
 
$
96,712

 
$
116,874


Schedule of Expected Amortization Expense
Estimated aggregate amortization of net above and below market leases and other intangibles for each of the five succeeding years is as follows (in thousands):
Year
 
Above/(Below) Market Leases, Net (1)
 
Deferred Lease Costs and Other Intangibles (2)
2020
 
$
410

 
$
5,172

2021
 
299

 
4,611

2022
 
285

 
4,319

2023
 
368

 
3,668

2024
 
298

 
3,407

Total
 
$
1,660

 
$
21,177


(1)
These net amounts are recorded as a reduction of base rentals.
(2)
These amounts are recorded as an increase in depreciation and amortization.