v3.26.3
Acquired Lease Intangibles
 9 Months Ended
Sep. 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): 
September 30, 2026December 31, 2025
Acquired Lease Intangible Assets:
In-place lease intangibles$331,187 $398,161 
Accumulated amortization(258,958)(289,347)
In-place lease intangibles, net$72,229 $108,814 
Above-market tenant leases$35,631 $48,079 
Accumulated amortization(25,153)(28,619)
Above-market tenant leases, net$10,478 $19,460 
Below-market ground lease$12,976 $12,976 
Accumulated amortization(746)(623)
Below-market ground lease, net$12,230 $12,353 
Acquired lease intangible assets, net$94,937 $140,627 
Acquired Lease Intangible Liabilities:
Below-market tenant leases$(259,771)$(274,353)
Accumulated amortization
158,206 157,866 
Below-market tenant leases, net$(101,565)$(116,487)
Acquired lease intangible liabilities, net$(101,565)$(116,487)
    The following table summarizes the amortization related to our acquired lease intangible assets and liabilities for the three and nine months ended September 30, 2026 and 2025 (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
In-place lease intangibles(1)
$6,496 $11,645 $23,071 $39,458 
Net below-market tenant leases(2)
$(2,578)$(4,393)$(9,310)$(17,647)
Below-market ground lease(3)
$41 $41 $123 $123 
(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.