Acquired Intangible Assets and Liabilities (Tables)

9 Months Ended

Sep. 30, 2026

Acquired Intangible Assets and Liabilities

Summary of Acquired Intangible Assets and Liabilities


		Balance as of
		September 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		$	3,180,031		$	(1,390,861)		$	1,789,170		$	2,921,841		$	(1,271,137)		$	1,650,704
Acquired in-place lease value			1,297,130			(894,774)			402,356			987,495			(853,333)			134,162
Existing investment management contracts			150,012			(3,657)			146,355			—			—			—
Other			115,848			(62,774)			53,074			114,397			(61,403)			52,994
Acquired above-market leases			110,464			(110,020)			444			111,036			(109,352)			1,684
Acquired below-market leases			(724,891)			198,058			(526,833)			(241,779)			209,607			(32,172)
Total		$	4,128,594		$	(2,264,028)		$	1,864,566		$	3,892,990		$	(2,085,618)		$	1,807,372

Schedule of Estimated Annual Amortization of Acquired of Intangible Assets

Estimated annual amortization for each of the five succeeding years and thereafter, commencing October 1, 2026 is as follows:


(Amounts in thousands)	Customer relationship value			Acquired in-place lease value			Existing investment management contracts			Other			Acquired above-market leases			Acquired below-market leases
2026	$	49,511		$	19,499		$	7,793		$	1,605		$	3		$	(3,451)
2027		194,514			60,982			30,918			6,717			49			(26,144)
2028		172,888			35,797			30,755			6,736			12			(38,634)
2029		140,122			29,008			27,050			6,789			189			(39,379)
2030		140,122			25,992			21,447			6,789			191			(39,564)
Thereafter		1,092,013			231,078			28,392			24,438			—			(379,661)
Total	$	1,789,170		$	402,356		$	146,355		$	53,074		$	444		$	(526,833)