| Acquired Lease Intangibles Summary of our Acquired Lease Intangibles
| | | | | | | | | | | | | (In thousands) | June 30, 2026 | | December 31, 2025 | | | | | | Above-market tenant leases | $ | 11,383 | | | $ | 6,775 | | | Above-market tenant leases - accumulated amortization | (3,083) | | | (2,870) | | | Above-market ground lease where we are the lessor | 1,152 | | | 1,152 | | | Above-market ground lease - accumulated amortization | (334) | | | (326) | | | Acquired lease intangible assets, net | $ | 9,118 | | | $ | 4,731 | | | | | | | Below-market tenant leases | $ | 27,039 | | | $ | 28,095 | | | Below-market tenant leases - accumulated accretion | (15,351) | | | (19,819) | | | Acquired lease intangible liabilities, net | $ | 11,688 | | | $ | 8,276 | |
Impact on the Consolidated Statements of Operations
The table below summarizes the net amortization/accretion related to our above- and below-market leases:
| | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | (In thousands) | 2026 | | 2025 | | 2026 | | 2025 | | | | | | | | | Net accretion of above- and below-market tenant lease assets and liabilities(1) | $ | 599 | | | $ | 1,163 | | | $ | 1,677 | | | $ | 2,630 | | Amortization of an above-market ground lease asset(2) | (4) | | | (4) | | | (8) | | | (8) | | | Total | $ | 595 | | | $ | 1,159 | | | $ | 1,669 | | | $ | 2,622 | |
______________________________________________ (1) Recorded as a net increase to office and multifamily rental revenues. (2) Recorded as a decrease to office parking and other income.
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