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Lease Intangibles (Tables) | 3 Months Ended
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Mar. 31, 2021
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):
|  | March 31, 2021 |  |  | December 31, 2020 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
Amortizable Intangible Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
In-place lease intangible assets |  | $ | 265,722 |  |  | $ | (178,279 | ) |  | $ | 87,443 |  |  | $ | 268,335 |  |  | $ | (171,856 | ) |  | $ | 96,479 |
Above-market rent |  |  | 19,188 |  |  |  | (15,260 | ) |  |  | 3,928 |  |  |  | 19,188 |  |  |  | (14,935 | ) |  |  | 4,253 |
|  | $ | 284,910 |  |  | $ | (193,539 | ) |  | $ | 91,371 |  |  | $ | 287,523 |  |  | $ | (186,791 | ) |  | $ | 100,732 |
Amortizable Intangible Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Below-market rent |  | $ | (160,388 | ) |  | $ | 89,812 |  |  | $ | (70,576 | ) |  | $ | (164,923 | ) |  | $ | 88,951 |  |  | $ | (75,972 | )
Above-market ground lease |  |  | (671 | ) |  |  | 224 |  |  |  | (447 | ) |  |  | (671 | ) |  |  | 209 |  |  |  | (462 | )
|  | $ | (161,059 | ) |  | $ | 90,036 |  |  | $ | (71,023 | ) |  | $ | (165,594 | ) |  | $ | 89,160 |  |  | $ | (76,434 | )
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, 2021 is as follows (in thousands):
Years Ending December 31, |  | Net Increase in Lease Revenues |  |  | Increase to Amortization |  |  | Reduction of Rent Expense |  |  | Net (Expense) Income |
2021 (Remainder) |  | $ | 4,923 |  |  | $ | (17,375 | ) |  | $ | 44 |  |  | $ | (12,408 | )
2022 |  |  | 5,944 |  |  |  | (17,869 | ) |  |  | 58 |  |  |  | (11,867 | )
2023 |  |  | 5,476 |  |  |  | (13,239 | ) |  |  | 58 |  |  |  | (7,705 | )
2024 |  |  | 5,126 |  |  |  | (9,297 | ) |  |  | 58 |  |  |  | (4,113 | )
2025 |  |  | 4,459 |  |  |  | (6,939 | ) |  |  | 58 |  |  |  | (2,422 | )
Thereafter |  |  | 40,720 |  |  |  | (22,724 | ) |  |  | 171 |  |  |  | 18,167 |
Total |  | $ | 66,648 |  |  | $ | (87,443 | ) |  | $ | 447 |  |  | $ | (20,348 | )

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