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Intangible Assets and Liabilities (Tables)

6 Months Ended

Jun. 30, 2022

Identified Intangibles, Net [Abstract]

Schedule of Intangible Assets and Liabilities

Intangible assets and liabilities consisted of the following as of June 30, 2022 and December 31, 2021, respectively (in thousands, except with respect to the weighted average remaining amortization terms):


	June 30, 2022			December 31, 2021
	Balance		Weighted Average Remaining Amortization in Years	Balance		Weighted Average Remaining Amortization in Years
Assets:
In place leases	$	334,807	9.3	$	349,863	9.3
Tenant relationships	47,931		10.9	54,851		10.8
Above market leases	20,548		6.8	21,537		6.9
	403,286			426,251
Accumulated amortization	(210,279)			(213,801)
Total	$	193,007	9.3	$	212,450	9.3

Liabilities:
Below market leases	$	53,695	14.6	$	55,073	14.3
Accumulated amortization	(25,024)			(23,742)
Total	$	28,671	14.6	$	31,331	14.3

Summary of Net Intangible Amortization

The following is a summary of the net intangible amortization for the three and six months ended June 30, 2022 and 2021, respectively (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Amortization recorded against rental income related to above and (below) market leases	$	(634)	$	(641)	$	(1,283)	$	(1,233)
Amortization expense related to in place leases and tenant relationships	9,843		11,340		20,159		23,227