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Intangible Assets, Liabilities, and Deferred Leasing Costs | 12 Months Ended
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Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract] |
Intangible Assets, Liabilities, and Deferred Leasing Costs | Intangible Assets, Liabilities, and Deferred Leasing Costs The following table summarizes the Company’s identified intangible assets, liabilities, and deferred leasing costs as of December 31, 2020 and 2019:
| As of December 31,
| 2020 |  | 2019
Intangible assets: |  |  |
In-place leases | $ | 146,484 |  |  | $ | 158,002 |
Above-market leases | 15,124 |  |  | 16,625 |
Intangible assets | 161,608 |  |  | 174,627 |
Accumulated amortization: |  |  |
In-place leases | (58,571) |  |  | (51,471) |
Above-market leases | (7,315) |  |  | (6,796) |
Accumulated amortization | (65,886) |  |  | (58,267) |
Intangible assets, net | $ | 95,722 |  |  | $ | 116,360 |
Intangible liabilities: |  |  |
Below-market leases | $ | 64,963 |  |  | $ | 69,161 |
Accumulated amortization | (30,091) |  |  | (26,519) |
Intangible liabilities, net | $ | 34,872 |  |  | $ | 42,642 |
Deferred leasing costs: |  |  |
Leasing costs | $ | 15,029 |  |  | $ | 14,806 |
Accumulated amortization | (4,298) |  |  | (3,896) |
Deferred leasing costs, net | $ | 10,731 |  |  | $ | 10,910 |
The following table provides a summary of the amortization related to intangible assets, liabilities, and deferred leasing costs for the years ended December 31, 2020, 2019 and 2018:
| Year ended December 31,
| 2020 |  | 2019 |  | 2018
Intangible assets: |  |  |  |  |
In-place leases | $ | 22,994 |  |  | $ | 24,601 |  |  | $ | 22,523 |
Above-market leases | 2,446 |  |  | 2,613 |  |  | 3,036 |
Amortization of intangible assets | $ | 25,440 |  |  | $ | 27,214 |  |  | $ | 25,559 |
Intangible liabilities: |  |  |  |  |
Amortization of below-market leases | $ | 9,468 |  |  | $ | 8,736 |  |  | $ | 8,570 |
Deferred leasing costs: |  |  |  |  |
Amortization of deferred leasing costs | $ | 1,913 |  |  | $ | 2,311 |  |  | $ | 2,036 |
The following table provides a summary of the amortization during the next five years and thereafter related to deferred costs and intangible assets and liabilities as of December 31, 2020:
Year ending December 31, |  | In-place leases |  | Above market leases |  | Deferred leasing costs |  | Below market leases
2021 |  | $ | 17,054 |  |  | $ | 1,804 |  |  | $ | 2,842 |  |  | $ | 6,276 |
2022 |  | 13,151 |  |  | 1,304 |  |  | 1,619 |  |  | 4,798 |
2023 |  | 11,124 |  |  | 1,079 |  |  | 1,389 |  |  | 3,697 |
2024 |  | 9,551 |  |  | 834 |  |  | 1,114 |  |  | 2,993 |
2025 |  | 8,331 |  |  | 627 |  |  | 978 |  |  | 2,558 |
Thereafter |  | 28,702 |  |  | 2,161 |  |  | 2,789 |  |  | 14,550 |
Total |  | $ | 87,913 |  |  | $ | 7,809 |  |  | $ | 10,731 |  |  | $ | 34,872 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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