| Summary of Acquired Intangible Assets and Liabilities |
| | | | | | | | | | | | | | | | | | | | | Balance as of | | | June 30, 2026 | | December 31, 2025 | (Amounts in thousands) | | | Gross Carrying Amount | | | Accumulated Amortization | | | Net Carrying Amount | | | Gross Carrying Amount | | | Accumulated Amortization | | | Net Carrying Amount | Customer relationship value | | $ | 3,149,616 | | $ | (1,346,988) | | $ | 1,802,628 | | $ | 2,921,841 | | $ | (1,271,137) | | $ | 1,650,704 | Acquired in-place lease value | | | 1,294,158 | | | (877,905) | | | 416,253 | | | 987,495 | | | (853,333) | | | 134,162 | Other | | | 114,892 | | | (62,216) | | | 52,676 | | | 114,397 | | | (61,403) | | | 52,994 | Acquired above-market leases | | | 110,456 | | | (109,614) | | | 842 | | | 111,036 | | | (109,352) | | | 1,684 | Acquired below-market leases | | | (724,897) | | | 195,206 | | | (529,691) | | | (241,779) | | | 209,607 | | | (32,172) | Total | | $ | 3,944,225 | | $ | (2,201,517) | | $ | 1,742,708 | | $ | 3,892,990 | | $ | (2,085,618) | | $ | 1,807,372 |
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| Schedule of Estimated Annual Amortization of Acquired of Intangible Assets |
Estimated annual amortization for each of the five succeeding years and thereafter, commencing July 1, 2026 is as follows: | | | | | | | | | | | | | | | (Amounts in thousands) | | Customer relationship value | | | Acquired in-place lease value | | | Other | | | Acquired above-market leases | | | Acquired below-market leases | 2026 | $ | 191,092 | | $ | 34,567 | | $ | 4,177 | | $ | 78 | | $ | (6,139) | 2027 | | 381,987 | | | 60,136 | | | 5,775 | | | 20 | | | (26,286) | 2028 | | 337,740 | | | 36,758 | | | 6,615 | | | 299 | | | (38,776) | 2029 | | 267,637 | | | 29,017 | | | 6,687 | | | 266 | | | (39,521) | 2030 | | 267,637 | | | 26,056 | | | 6,687 | | | 179 | | | (39,521) | Thereafter | | 356,535 | | | 229,719 | | | 22,735 | | | — | | | (379,448) | Total | $ | 1,802,628 | | $ | 416,253 | | $ | 52,676 | | $ | 842 | | $ | (529,691) | | | | | | | | | | | | | | | |
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