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Lease Intangibles (Tables) | 9 Months Ended
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Sep. 30, 2022
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):
|  | September 30, 2022 |  |  | December 31, 2021 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
Amortizable Intangible Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
In-place lease intangible assets |  | $ | 303,140 |  |  | $ | (199,808 | ) |  | $ | 103,332 |  |  | $ | 290,819 |  |  | $ | (189,981 | ) |  | $ | 100,838 |
Above-market rent |  |  | 24,064 |  |  |  | (16,776 | ) |  |  | 7,288 |  |  |  | 24,191 |  |  |  | (16,111 | ) |  |  | 8,080 |
|  | $ | 327,204 |  |  | $ | (216,584 | ) |  | $ | 110,620 |  |  | $ | 315,010 |  |  | $ | (206,092 | ) |  | $ | 108,918 |
Amortizable Intangible Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Below-market rent |  | $ | (181,202 | ) |  | $ | 101,018 |  |  | $ | (80,184 | ) |  | $ | (171,245 | ) |  | $ | 94,871 |  |  | $ | (76,374 | )
Above-market ground lease |  |  | (671 | ) |  |  | 311 |  |  |  | (360 | ) |  |  | (671 | ) |  |  | 267 |  |  |  | (404 | )
|  | $ | (181,873 | ) |  | $ | 101,329 |  |  | $ | (80,544 | ) |  | $ | (171,916 | ) |  | $ | 95,138 |  |  | $ | (76,778 | )
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, 2022 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 (Remainder) |  | $ | 1,688 |  |  | $ | (9,484 | ) |  | $ | 15 |  |  | $ | (7,781 | )
2023 |  |  | 6,397 |  |  |  | (31,875 | ) |  |  | 58 |  |  |  | (25,420 | )
2024 |  |  | 6,209 |  |  |  | (23,616 | ) |  |  | 58 |  |  |  | (17,349 | )
2025 |  |  | 5,792 |  |  |  | (17,184 | ) |  |  | 58 |  |  |  | (11,334 | )
2026 |  |  | 5,440 |  |  |  | (12,920 | ) |  |  | 58 |  |  |  | (7,422 | )
Thereafter |  |  | 47,370 |  |  |  | (8,253 | ) |  |  | 113 |  |  |  | 39,230 |
Total |  | $ | 72,896 |  |  | $ | (103,332 | ) |  | $ | 360 |  |  | $ | (30,076 | )

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