Annual report pursuant to Section 13 and 15(d)

Deferred Charges

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Deferred Charges
 12 Months Ended
Dec. 31, 2022
Deferred Costs [Abstract]  
Deferred Charges Deferred Charges
Deferred lease costs and other intangibles, net as of December 31, 2022 and 2021 consist of the following (in thousands):
2022 2021
Deferred lease costs $ 89,103  $ 90,240 
Intangible assets:
Above market leases 36,085  38,942 
Lease in place value 52,280  53,584 
Tenant relationships 32,912  33,759 
Other intangibles 40,651  40,806 
251,031  257,331 
Accumulated amortization (192,457) (183,611)
Deferred lease costs and other intangibles, net $ 58,574  $ 73,720 

Below market lease intangibles, net of accumulated amortization, included in other liabilities on the consolidated balance sheets as of December 31, 2022 and 2021 were $13.3 million and $14.9 million, respectively.

Amortization of deferred lease costs and other intangibles, excluding above and below market leases, included in depreciation and amortization for the years ended December 31, 2022, 2021 and 2020 was $11.6 million, $10.7 million and $12.4 million, respectively.

Amortization of above and below market lease intangibles recorded as an increase or (decrease) in base rentals for the years ended December 31, 2022, 2021 and 2020 was $(1.0) million, $0.1 million and $(2.4) million, respectively.
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)
Lease Cost Intangibles (2)
2023 $ 54  $ 3,050 
2024 (16) 2,865 
2025 (424) 2,303 
2026 (745) 1,727 
2027 (771) 1,562 
Total $ (1,902) $ 11,507 
(1)These net amounts are recorded as a reduction (increase) of base rentals.
(2)These amounts are recorded as an increase in depreciation and amortization.