v3.26.1
Acquired Lease Intangibles
 6 Months Ended
Jun. 30, 2026
Intangible Asset, Goodwill and Other [Abstract]  
Acquired Lease Intangibles Acquired Lease Intangibles  
    The following table summarizes our acquisition related intangible assets, including the value of in-place tenant leases, above-market tenant leases and a below-market ground lease, and our acquisition related intangible liabilities, including below-market tenant leases (in thousands): 
 June 30, 2026December 31, 2025
Acquired Lease Intangible Assets:  
In-place lease intangibles$350,315 $398,161 
Accumulated amortization(262,656)(289,347)
In-place lease intangibles, net$87,659 $108,814 
Above-market tenant leases$40,012 $48,079 
Accumulated amortization(25,453)(28,619)
Above-market tenant leases, net$14,559 $19,460 
Below-market ground lease$12,976 $12,976 
Accumulated amortization(705)(623)
Below-market ground lease, net$12,271 $12,353 
Acquired lease intangible assets, net$114,489 $140,627 
Acquired Lease Intangible Liabilities:  
Below-market tenant leases$(261,388)$(274,353)
Accumulated amortization
155,532 157,866 
Below-market tenant leases, net$(105,856)$(116,487)
Acquired lease intangible liabilities, net$(105,856)$(116,487)
    The following table summarizes the amortization related to our acquired lease intangible assets and liabilities for the three and six months ended June 30, 2026 and 2025 (in thousands):
 Three Months Ended June 30,Six Months Ended June 30,
 2026202520262025
In-place lease intangibles(1)
$7,820 $11,316 $16,575 $27,813 
Net below-market tenant leases(2)
$(2,945)$(4,928)$(6,732)$(13,254)
Below-market ground leases(3)
$41 $41 $82 $82 
(1)The amortization of in-place lease intangibles is recorded to depreciation and amortization expense in the consolidated statements of operations for the periods presented.
(2)The amortization of net below-market tenant leases is recorded as an increase to rental income in the consolidated statements of operations for the periods presented.
(3)The amortization of below-market ground lease is recorded as an increase to property expenses in the consolidated statements of operations for the periods presented.