Intangible Assets, Liabilities, and Deferred Leasing Costs (Tables)

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets and Goodwill

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

Schedule of Identified Intangible Assets and Liabilities

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

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

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