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Lease Intangibles (Tables) | 3 Months Ended
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Mar. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract] |
Schedule of Intangible Assets and Liabilities Included in Other Assets and Other Liabilities | Intangible assets and liabilities are included in other assets and other liabilities (Note 5) on the consolidated balance sheet and summarized as follows (in thousands):
|  | March 31, 2020 |  |  | December 31, 2019 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
Amortizable Intangible Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
In-place lease intangible assets |  | $ | 251,458 |  |  | $ | (146,404 | ) |  | $ | 105,054 |  |  | $ | 249,961 |  |  | $ | (137,108 | ) |  | $ | 112,853 |
Above-market rent |  |  | 17,227 |  |  |  | (13,558 | ) |  |  | 3,669 |  |  |  | 17,227 |  |  |  | (13,260 | ) |  |  | 3,967 |
|  | $ | 268,685 |  |  | $ | (159,962 | ) |  | $ | 108,723 |  |  | $ | 267,188 |  |  | $ | (150,368 | ) |  | $ | 116,820 |
Amortizable Intangible Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Below-market rent |  | $ | (162,117 | ) |  | $ | 81,335 |  |  | $ | (80,782 | ) |  | $ | (160,721 | ) |  | $ | 78,315 |  |  | $ | (82,406 | )
Above-market ground lease |  |  | (671 | ) |  |  | 165 |  |  |  | (506 | ) |  |  | (671 | ) |  |  | 151 |  |  |  | (520 | )
|  | $ | (162,788 | ) |  | $ | 81,500 |  |  | $ | (81,288 | ) |  | $ | (161,392 | ) |  | $ | 78,466 |  |  | $ | (82,926 | )
Scheduled Amortization of Acquired Lease Intangible Assets and Assumed Liabilities | The scheduled amortization of acquired lease intangible assets and assumed liabilities as of March 31, 2020 is as follows (in thousands):
Years Ending December 31, |  | Net Increase in Lease Revenues |  |  | Increase to Amortization |  |  | Reduction of Rent Expense |  |  | Net (Expense) Income |
2020 |  | $ | 5,656 |  |  | $ | (31,683 | ) |  | $ | 44 |  |  | $ | (25,983 | )
2021 |  |  | 7,172 |  |  |  | (21,358 | ) |  |  | 58 |  |  |  | (14,128 | )
2022 |  |  | 6,427 |  |  |  | (15,267 | ) |  |  | 58 |  |  |  | (8,782 | )
2023 |  |  | 6,063 |  |  |  | (11,403 | ) |  |  | 58 |  |  |  | (5,282 | )
2024 |  |  | 5,621 |  |  |  | (8,773 | ) |  |  | 58 |  |  |  | (3,094 | )
Thereafter |  |  | 46,174 |  |  |  | (16,570 | ) |  |  | 230 |  |  |  | 29,834 |
Total |  | $ | 77,113 |  |  | $ | (105,054 | ) |  | $ | 506 |  |  | $ | (27,435 | )

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