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DEFERRED COSTS AND INTANGIBLES, NET
 12 Months Ended
Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
DEFERRED COSTS AND INTANGIBLES, NET DEFERRED COSTS AND INTANGIBLES, NET
Deferred costs consist primarily of acquired lease intangible assets, broker fees and capitalized internal commissions incurred in connection with lease originations. Deferred leasing costs, lease intangibles and similar costs are amortized on a straight-line basis over the terms of the related leases. As of December 31, 2023 and 2022, deferred costs consisted of the following (in thousands):
December 31,
20232022
Acquired lease intangible assets$433,771 $522,152 
Deferred leasing costs and other74,662 66,842 
 508,433 588,994 
Less: accumulated amortization(204,262)(179,166)
Deferred costs, net$304,171 $409,828 
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 
20256,822 42,293 49,115 
20264,865 28,974 33,839 
20273,505 19,460 22,965 
20282,432 15,376 17,808 
Thereafter2,644 39,806 42,450 
Total$29,203 $211,909 $241,112 
The amortization of deferred leasing costs, lease intangibles and other is included within “Depreciation and amortization” in the accompanying consolidated statements of operations and comprehensive income. The amortization of above-market lease intangibles is included as a reduction to “Rental income” in the accompanying consolidated statements of operations and comprehensive income. 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,
202320222021
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