The following is a summary of intangible assets and liabilities and related accumulated amortization:


(in thousands)	September 30, 2021			December 31, 2020
Lease intangibles:
Acquired above-market leases	$	49,195		$	54,616
Less accumulated amortization		(17,862	)		(18,928	)
Acquired above-market leases, net		31,333			35,688
Acquired in-place leases		370,685			340,958
Less accumulated amortization		(100,972	)		(85,733	)
Acquired in-place leases, net		269,713			255,225
Total intangible lease assets, net	$	301,046		$	290,913
Acquired below-market leases	$	105,334		$	107,788
Less accumulated amortization		(32,837	)		(28,135	)
Intangible lease liabilities, net	$	72,497		$	79,653
Leasing fees	$	14,776		$	15,462
Less accumulated amortization		(4,985	)		(4,724	)
Leasing fees, net	$	9,791		$	10,738

Amortization of intangible lease assets and liabilities was as follows:


(in thousands)		For the Three Months Ended September 30,					For the Nine Months Ended September 30,
Intangible	Financial Statement Presentation	2021		2020			2021		2020
Acquired in-place leases and leasing fees	Depreciation and amortization	$	11,424	$	8,026		$	25,429	$	32,060
Above-market and below-market leases	Lease revenues, net		944		(149	)		2,362		(25	)

For the three and nine months ended September 30, 2021, amortization expense includes $3,757 of accelerated amortization resulting from early lease terminations. For the three and nine months ended September 30, 2020, amortization expense includes $2,459 and $14,517, of accelerated amortization resulting from early lease termination, respectively.

Estimated future amortization of intangible assets and liabilities at September 30, 2021 is as follows:


(in thousands)
Remainder of 2021	$	6,482
2022		24,480
2023		24,168
2024		23,410
2025		22,113
Thereafter		137,687
	$	238,340