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Lease Intangibles (Tables) | 6 Months Ended
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Jun. 30, 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, net and Accounts payable and other liabilities (Note 5) on the consolidated balance sheet and summarized as follows (in thousands):
|  | June 30, 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 |  | $ | 259,391 |  |  | $ | (179,197 | ) |  | $ | 80,194 |  |  | $ | 268,335 |  |  | $ | (171,856 | ) |  | $ | 96,479 |
Above-market rent |  |  | 19,115 |  |  |  | (15,587 | ) |  |  | 3,528 |  |  |  | 19,188 |  |  |  | (14,935 | ) |  |  | 4,253 |
|  | $ | 278,506 |  |  | $ | (194,784 | ) |  | $ | 83,722 |  |  | $ | 287,523 |  |  | $ | (186,791 | ) |  | $ | 100,732 |
Amortizable Intangible Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Below-market rent |  | $ | (157,590 | ) |  | $ | 91,041 |  |  | $ | (66,549 | ) |  | $ | (164,923 | ) |  | $ | 88,951 |  |  | $ | (75,972 | )
Above-market ground lease |  |  | (671 | ) |  |  | 238 |  |  |  | (433 | ) |  |  | (671 | ) |  |  | 209 |  |  |  | (462 | )
|  | $ | (158,261 | ) |  | $ | 91,279 |  |  | $ | (66,982 | ) |  | $ | (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 June 30, 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) |  | $ | 3,205 |  |  | $ | (11,153 | ) |  | $ | 29 |  |  | $ | (7,919 | )
2022 |  |  | 5,929 |  |  |  | (17,741 | ) |  |  | 58 |  |  |  | (11,754 | )
2023 |  |  | 5,460 |  |  |  | (13,134 | ) |  |  | 58 |  |  |  | (7,616 | )
2024 |  |  | 5,106 |  |  |  | (9,262 | ) |  |  | 58 |  |  |  | (4,098 | )
2025 |  |  | 4,435 |  |  |  | (6,914 | ) |  |  | 58 |  |  |  | (2,421 | )
Thereafter |  |  | 38,886 |  |  |  | (21,990 | ) |  |  | 172 |  |  |  | 17,068 |
Total |  | $ | 63,021 |  |  | $ | (80,194 | ) |  | $ | 433 |  |  | $ | (16,740 | )

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