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Deferred Charges and Other Assets, net

9 Months Ended

Sep. 30, 2025

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Deferred charges and other assets, net consist of the following:


	September 30, 2025		December 31, 2024
Leasing	$	56,082	$	69,077
Intangible assets:
In-place lease values	142,470		142,979
Leasing commissions and legal costs	31,202		27,676
Above-market leases	77,638		74,712
Deferred tax assets	27,044		25,324
Deferred compensation plan assets	74,100		69,031
Other assets	42,580		48,771
	451,116		457,570
Less accumulated amortization(1)	(109,201)		(88,017)
	$	341,915	$	369,553

(1) Accumulated amortization includes $58,827 and $33,883 relating to in-place lease values, leasing commissions and legal costs at September 30, 2025 and December 31, 2024, respectively. Amortization expense of in-place lease values, leasing commissions and legal costs was $14,244 and $6,290 for the three months ended September 30, 2025 and 2024, respectively, and $45,691 and $10,450 for the nine months ended September 30, 2025 and 2024, respectively.

The allocated values of above-market leases and below-market leases consist of the following:


	September 30, 2025		December 31, 2024
Above-Market Leases
Original allocated value	$	77,638	$	74,712
Less accumulated amortization	(33,727)		(26,173)
	$	43,911	$	48,539
Below-Market Leases(1)
Original allocated value	$	108,645	$	114,150
Less accumulated amortization	(41,196)		(36,338)
	$	67,449	$	77,812

(1) Below-market leases are included in other accrued liabilities.