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Acquired Intangible Assets and Liabilities (Tables)

6 Months Ended

Jun. 30, 2023

Acquired Intangible Assets and Liabilities

Summary of Acquired Intangible Assets and Liabilities


		Balance as of
		June 30, 2023									December 31, 2022
(Amounts in thousands)			Gross Carrying Amount			Accumulated Amortization			Net Carrying Amount			Gross Carrying Amount			Accumulated Amortization			Net Carrying Amount
Customer relationship value		$	3,187,468		$	(954,011)		$	2,233,457		$	3,327,765		$	(888,105)		$	2,439,660
Acquired in-place lease value			1,272,138			(995,881)			276,257			1,369,526			(1,041,631)			327,895
Other			102,330			(30,804)			71,526			94,829			(26,788)			68,041
Acquired above-market leases			218,430			(211,753)			6,677			264,071		$	(253,693)			10,378
Acquired below-market leases			(326,333)			247,724			(78,609)			(344,256)			255,821			(88,435)

Schedule of Estimated Annual Amortization of Acquired of Intangible Assets


(Amounts in thousands)		Customer relationship value			Acquired in-place lease value			Other ⁽¹⁾			Acquired above-market leases			Acquired below-market leases
2023	$	95,961		$	28,919		$	2,276		$	1,437		$	(5,155)
2024		191,342			54,205			4,552			2,203			(9,577)
2025		190,799			51,707			4,511			1,452			(9,387)
2026		190,159			49,769			4,307			684			(8,626)
2027		189,767			40,048			4,292			214			(8,012)
Thereafter		1,375,429			51,609			3,826			687			(37,852)
Total	$	2,233,457		$	276,257		$	23,764		$	6,677		$	(78,609)

(1)	Excludes power grid rights in the amount of approximately $44.9 million that are currently not being amortized. Amortization of these assets will begin once the data centers associated with the power grid rights are placed into service.