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Intangibles (Tables)
 12 Months Ended
Dec. 31, 2020
Intangibles  
Schedule of Intangible Lease Assets The following table summarizes the Company’s intangible lease assets (dollars in thousands):
 December 31,
Intangible lease assets20202019
Gross intangible lease assets$761,328 $426,967 
Accumulated depreciation and amortization(241,411)(166,763)
Intangible assets, net(1)
$519,917 $260,204 
Weighted average remaining amortization period in years55
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(1)Excludes intangible assets reported in assets held for sale and discontinued operations, net of $25 million and $82 million as of December 31, 2020 and December 31, 2019, respectively.
Schedule of Intangible Lease Liabilities
Intangible liabilities consist of below market lease intangibles. The following table summarizes the Company’s intangible lease liabilities (dollars in thousands):
 December 31,
Intangible lease liabilities20202019
Gross intangible lease liabilities$194,565 $113,213 
Accumulated depreciation and amortization(50,366)(38,222)
Intangible liabilities, net$144,199 $74,991 
Weighted average remaining amortization period in years87
Schedule of Amortization of Deferred Lease Costs and Acquisition Related Intangibles
The following table sets forth amortization related to intangible assets, net and intangible liabilities, net (in thousands):
Year Ended December 31,
202020192018
Depreciation and amortization expense related to amortization of lease-up intangibles(1)
$89,301 $46,828 $43,933 
Rental and related revenues related to amortization of net below market lease liabilities(1)
11,717 6,319 5,341 
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(1)Excludes amortization related to assets classified as discontinued operations.
Schedule of Estimated Aggregate Amortization of Intangible Assets and Liabilities for Each of the Five Succeeding Fiscal Years and Thereafter
The following table summarizes the estimated annual amortization for each of the five succeeding fiscal years and thereafter, excluding assets classified as discontinued operations (in thousands):
 
Rental and Related Revenues(1)(3)
Depreciation and Amortization(2)(3)
2021$18,093 $96,094 
202217,841 89,217 
202317,119 85,484 
202416,159 82,647 
202515,370 72,373 
Thereafter50,514 84,999 
 $135,096 $510,814 
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(1)The amortization of net below market lease intangibles is recorded as an increase to rental and related revenues.
(2)The amortization of lease-up intangibles is recorded to depreciation and amortization expense.
(3)Excludes estimated annual amortization from assets classified as discontinued operations.