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DEFERRED COSTS AND INTANGIBLES, NET (Tables) | 12 Months Ended
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Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] |
Schedule of Deferred Costs | As of December 31, 2023 and 2022, deferred costs consisted of the following (in thousands):
| December 31,
| 2023 |  | 2022
Acquired lease intangible assets | $ | 433,771 |  |  | $ | 522,152 |
Deferred leasing costs and other | 74,662 |  |  | 66,842 |
| 508,433 |  |  | 588,994 |
Less: accumulated amortization | (204,262) |  |  | (179,166) |
Deferred costs, net | $ | 304,171 |  |  | $ | 409,828 |
Schedule of Amortization from Acquired Lease Intangible Assets | The estimated net amounts of amortization of acquired lease intangible assets for properties owned as of December 31, 2023 for each of the next five years and thereafter are as follows (in thousands):
| Amortization of above-market leases |  | Amortization of acquired lease intangible assets |  | Total
2024 | $ | 8,935 |  |  | $ | 66,000 |  |  | $ | 74,935 |
2025 | 6,822 |  |  | 42,293 |  |  | 49,115 |
2026 | 4,865 |  |  | 28,974 |  |  | 33,839 |
2027 | 3,505 |  |  | 19,460 |  |  | 22,965 |
2028 | 2,432 |  |  | 15,376 |  |  | 17,808 |
Thereafter | 2,644 |  |  | 39,806 |  |  | 42,450 |
Total | $ | 29,203 |  |  | $ | 211,909 |  |  | $ | 241,112 |
The estimated net amounts of amortization of in-place lease liabilities and the increasing effect on minimum rent for properties owned as of December 31, 2023 for each of the next five years and thereafter are as follows (in thousands):
2024 | $ | 19,346 |
2025 | 13,186 |
2026 | 12,149 |
2027 | 10,274 |
2028 | 9,665 |
Thereafter | 94,829 |
Total | $ | 159,449 |
Schedule of Deferred Cost Amortization | The amounts of such amortization included in the accompanying consolidated statements of operations and comprehensive income are as follows (in thousands):
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Amortization of deferred leasing costs, lease intangibles and other | $ | 107,542 |  |  | $ | 150,245 |  |  | $ | 45,423 |
Amortization of above-market lease intangibles | $ | 12,007 |  |  | $ | 13,562 |  |  | $ | 3,483 |
The following amounts of amortization of debt issuance costs are included as a component of “Interest expense” in the accompanying consolidated statements of operations and comprehensive income (in thousands):
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Amortization of debt issuance costs | $ | 3,609 |  |  | $ | 3,163 |  |  | $ | 2,681 |

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- Definition Tabular disclosure for the amortization of deferred costs. + References No definition available. + Details
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- Definition Tabular disclosure of the amounts paid in advance for capitalized costs that will be expensed with the passage of time or the occurrence of a triggering event, and will be charged against earnings within one year or the normal operating cycle, if longer; the aggregate carrying amount of current assets, not separately presented elsewhere in the balance sheet; and other deferred costs. + References No definition available. + Details
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- Definition Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482665/350-30-50-2 + Details
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