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Lease Intangibles (Tables) | 9 Months Ended
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Sep. 30, 2020
Goodwill And Intangible Assets Disclosure [Abstract] |
Schedule of Intangible Assets and Liabilities Included in Other Assets and Accounts Payable and Other Liabilities | Intangible assets and liabilities are included in Other assets and Accounts payable and other liabilities (Note 5) on the consolidated balance sheet and summarized as follows (in thousands):
|  | September 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 |  |  | $ | (163,479 | ) |  | $ | 104,856 |  |  | $ | 249,961 |  |  | $ | (137,108 | ) |  | $ | 112,853 |
Above-market rent |  |  | 19,188 |  |  |  | (14,556 | ) |  |  | 4,632 |  |  |  | 17,227 |  |  |  | (13,260 | ) |  |  | 3,967 |
|  | $ | 287,523 |  |  | $ | (178,035 | ) |  | $ | 109,488 |  |  | $ | 267,188 |  |  | $ | (150,368 | ) |  | $ | 116,820 |
Amortizable Intangible Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Below-market rent |  | $ | (164,923 | ) |  | $ | 86,057 |  |  | $ | (78,866 | ) |  | $ | (160,721 | ) |  | $ | 78,315 |  |  | $ | (82,406 | )
Above-market ground lease |  |  | (671 | ) |  |  | 194 |  |  |  | (477 | ) |  |  | (671 | ) |  |  | 151 |  |  |  | (520 | )
|  | $ | (165,594 | ) |  | $ | 86,251 |  |  | $ | (79,343 | ) |  | $ | (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 September 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) |  | $ | 1,790 |  |  | $ | (7,490 | ) |  | $ | 15 |  |  | $ | (5,685 | )
2021 |  |  | 7,043 |  |  |  | (24,992 | ) |  |  | 58 |  |  |  | (17,891 | )
2022 |  |  | 6,372 |  |  |  | (18,314 | ) |  |  | 58 |  |  |  | (11,884 | )
2023 |  |  | 5,894 |  |  |  | (13,560 | ) |  |  | 58 |  |  |  | (7,608 | )
2024 |  |  | 5,539 |  |  |  | (9,525 | ) |  |  | 58 |  |  |  | (3,928 | )
Thereafter |  |  | 47,596 |  |  |  | (30,975 | ) |  |  | 230 |  |  |  | 16,851 |
Total |  | $ | 74,234 |  |  | $ | (104,856 | ) |  | $ | 477 |  |  | $ | (30,145 | )

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