XML 51 R38.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Lease Intangibles (Tables) | 12 Months Ended
--- | ---
Dec. 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 6) on the consolidated balance sheets and summarized as follows (in thousands):
|  | December 31, 2021 |  |  | December 31, 2020 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
Amortizable Intangible Assets |  |  |  |  |  |  |  |  |  |  | (As Restated) |  |  | (As Restated) |  |  | (As Restated) |
In-place lease intangible assets |  | $ | 290,819 |  |  | $ | (189,981 | ) |  | $ | 100,838 |  |  | $ | 265,063 |  |  | $ | (168,891 | ) |  | $ | 96,172 |
Above-market rent |  |  | 24,191 |  |  |  | (16,111 | ) |  |  | 8,080 |  |  |  | 19,010 |  |  |  | (14,756 | ) |  | $ | 4,254 |
|  | $ | 315,010 |  |  | $ | (206,092 | ) |  | $ | 108,918 |  |  | $ | 284,073 |  |  | $ | (183,647 | ) |  | $ | 100,426 |
Amortizable Intangible Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Below-market rent |  | $ | (171,245 | ) |  | $ | 94,871 |  |  | $ | (76,374 | ) |  | $ | (162,238 | ) |  | $ | 86,266 |  |  |  | (75,972 | )
Above-market ground lease |  |  | (671 | ) |  |  | 267 |  |  |  | (404 | ) |  |  | (671 | ) |  |  | 209 |  |  |  | (462 | )
|  | $ | (171,916 | ) |  | $ | 95,138 |  |  | $ | (76,778 | ) |  | $ | (162,909 | ) |  | $ | 86,475 |  |  | $ | (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 December 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 |
2022 |  | $ | 5,215 |  |  | $ | (26,371 | ) |  | $ | 58 |  |  | $ | (21,098 | )
2023 |  |  | 4,768 |  |  |  | (19,902 | ) |  |  | 58 |  |  |  | (15,076 | )
2024 |  |  | 4,700 |  |  |  | (14,046 | ) |  |  | 58 |  |  |  | (9,288 | )
2025 |  |  | 4,287 |  |  |  | (9,804 | ) |  |  | 58 |  |  |  | (5,459 | )
2026 |  |  | 3,992 |  |  |  | (7,433 | ) |  |  | 58 |  |  |  | (3,383 | )
Thereafter |  |  | 45,332 |  |  |  | (23,282 | ) |  |  | 114 |  |  |  | 22,164 |
Total |  | $ | 68,294 |  |  | $ | (100,838 | ) |  | $ | 404 |  |  | $ | (32,140 | )

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 + Details
Name: | us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 + Details
Name: | us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration