Annual report pursuant to Section 13 and 15(d)

Deferred Charges

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Deferred Charges
 12 Months Ended
Dec. 31, 2020
Deferred Costs [Abstract]  
Deferred Charges Deferred Charges
Deferred lease costs and other intangibles, net as of December 31, 2020 and 2019 consist of the following (in thousands):
2020 2019
Deferred lease costs $ 88,867  $ 85,444 
Intangible assets:
Above market leases 39,628  46,252 
Lease in place value 55,074  58,195 
Tenant relationships 34,694  37,221 
Other intangibles 41,117  41,531 
259,380  268,643 
Accumulated amortization (174,420) (171,931)
Deferred lease costs and other intangibles, net $ 84,960  $ 96,712 

Below market lease intangibles, net of accumulated amortization, included in other liabilities on the consolidated balance sheets as of December 31, 2020 and 2019 were $16.9 million and $19.5 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, 2020, 2019 and 2018 was $12.4 million, $13.7 million and $15.1 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, 2020, 2019 and 2018 was $(2.4) million, $(1.0) million and $(2.1) 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)
Deferred Lease Costs and Other Intangibles (2)
2021 $ 190  $ 4,403 
2022 176  4,117 
2023 239  3,486 
2024 170  3,260 
2025 (296) 2,627 
Total $ 479  $ 17,893 
(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.