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Lease Intangibles (Tables) | 6 Months Ended
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Jun. 30, 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):
|  | June 30, 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 |  | $ | 268,335 |  |  | $ | (154,313 | ) |  | $ | 114,022 |  |  | $ | 249,961 |  |  | $ | (137,108 | ) |  | $ | 112,853 |
Above-market rent |  |  | 19,188 |  |  |  | (13,959 | ) |  |  | 5,229 |  |  |  | 17,227 |  |  |  | (13,260 | ) |  |  | 3,967 |
|  | $ | 287,523 |  |  | $ | (168,272 | ) |  | $ | 119,251 |  |  | $ | 267,188 |  |  | $ | (150,368 | ) |  | $ | 116,820 |
Amortizable Intangible Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Below-market rent |  | $ | (165,085 | ) |  | $ | 83,757 |  |  | $ | (81,328 | ) |  | $ | (160,721 | ) |  | $ | 78,315 |  |  | $ | (82,406 | )
Above-market ground lease |  |  | (671 | ) |  |  | 180 |  |  |  | (491 | ) |  |  | (671 | ) |  |  | 151 |  |  |  | (520 | )
|  | $ | (165,756 | ) |  | $ | 83,937 |  |  | $ | (81,819 | ) |  | $ | (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 June 30, 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 (Remainder) |  | $ | 3,610 |  |  | $ | (15,678 | ) |  | $ | 29 |  |  | $ | (12,039 | )
2021 |  |  | 7,001 |  |  |  | (25,517 | ) |  |  | 58 |  |  |  | (18,458 | )
2022 |  |  | 6,302 |  |  |  | (18,705 | ) |  |  | 58 |  |  |  | (12,345 | )
2023 |  |  | 6,011 |  |  |  | (13,923 | ) |  |  | 58 |  |  |  | (7,854 | )
2024 |  |  | 5,692 |  |  |  | (8,677 | ) |  |  | 58 |  |  |  | (2,927 | )
Thereafter |  |  | 47,483 |  |  |  | (31,522 | ) |  |  | 230 |  |  |  | 16,191 |
Total |  | $ | 76,099 |  |  | $ | (114,022 | ) |  | $ | 491 |  |  | $ | (37,432 | )

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