XML 28 R14.htm IDEA: XBRL DOCUMENT v3.22.0.1

Intangible Assets, Liabilities, and Deferred Leasing Costs

12 Months Ended

Dec. 31, 2021

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 intangible assets, liabilities, and deferred leasing costs as of December 31, 2021 and 2020:

			As of December 31,
			2021						2020
Intangible assets:
In-place leases			$	137,579					$	146,484
Above-market leases			15,082						15,124
Intangible assets			152,661						161,608
Accumulated amortization:
In-place leases			(63,741)						(58,571)
Above-market leases			(7,894)						(7,315)
Accumulated amortization			(71,635)						(65,886)
Intangible assets, net			$	81,026					$	95,722
Intangible liabilities:
Below-market leases			$	58,256					$	64,963
Accumulated amortization			(29,261)						(30,091)
Intangible liabilities, net			$	28,995					$	34,872
Deferred leasing costs:
Leasing costs			$	18,482					$	15,029
Accumulated amortization			(6,055)						(4,298)
Deferred leasing costs, net			$	12,427					$	10,731

The following table provides a summary of the amortization related to intangible assets, liabilities, and deferred leasing costs for the years ended December 31, 2021, 2020 and 2019:

			Year ended December 31,
			2021						2020						2019
Intangible assets:
In-place leases			$	18,730					$	22,994					$	24,601
Above-market leases			2,036						2,446						2,613
Amortization of intangible assets			$	20,766					$	25,440					$	27,214
Intangible liabilities:
Amortization of below-market leases			$	6,317					$	9,468					$	8,736
Deferred leasing costs:
Amortization of deferred leasing costs			$	2,138					$	1,913					$	2,311

The following table provides a summary of the amortization during the next five years and thereafter related to intangible assets, liabilities, and deferred leasing costs as of December 31, 2021:

Year ending December 31,						In-place leases						Above market leases						Deferred leasing costs						Below market leases
2022						$	14,998					$	1,684					$	2,846					$	4,850
2023						12,097						1,311						1,891						3,753
2024						9,879						989						1,605						3,014
2025						8,584						777						1,460						2,579
2026						7,638						640						1,300						2,356
Thereafter						20,642						1,787						3,325						12,443
Total						$	73,838					$	7,188					$	12,427					$	28,995

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

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

Name:	us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration