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DEFERRED REVENUE, INTANGIBLES, NET AND OTHER LIABILITIES
 12 Months Ended
Dec. 31, 2021
Other Liabilities Disclosure [Abstract]  
DEFERRED REVENUE, INTANGIBLES, NET AND OTHER LIABILITIES DEFERRED REVENUE, INTANGIBLES, NET AND OTHER LIABILITIES
Deferred revenue and other liabilities consist of the unamortized fair value of below-market lease liabilities recorded in connection with purchase accounting, retainage payables for development and redevelopment projects, tenant rent payments received in advance of the month in which they are due, and lease liabilities recorded upon adoption of ASU 2016-02. The amortization of below-market lease liabilities is recognized as revenue over the remaining life of the leases (including option periods for leases with below-market renewal options) through 2085. Tenant rent payments received in advance are recognized as revenue in the period to which they apply, which is typically the month following their receipt.
At December 31, 2021 and 2020, deferred revenue, intangibles, net and other liabilities consisted of the following:
($ in thousands)20212020
Unamortized in-place lease liabilities$210,261 $45,479 
Retainages payable and other10,796 1,943 
Tenant rents received in advance30,125 11,716 
Lease liabilities70,237 26,511 
Total$321,419 $85,649 
The amortization of below-market lease intangibles is included as a component of “Rental income” in the accompanying consolidated statements and totaled $6.1 million, $4.8 million and $5.0 million for the years ended December 31, 2021, 2020 and 2019, respectively.
The estimated net amounts of amortization of in-place lease liabilities and the increasing effect on minimum rent for each of the next five years and thereafter is as follows:
($ in thousands)
2022$18,290 
202316,668 
202414,781 
202512,440 
202612,517 
Thereafter135,565 
Total$210,261