XML 25 R11.htm IDEA: XBRL DOCUMENT v3.5.0.2
Deferred Leasing Costs and Lease Intangibles, net
 9 Months Ended
Sep. 30, 2016
Leases [Abstract]  
Deferred Leasing Costs and Lease Intangibles, net
Deferred Leasing Costs and Lease Intangibles, net

The following summarizes the Company’s deferred leasing costs and lease intangibles as of:
 
September 30, 2016
 
December 31, 2015
Above-market leases
$
23,197

 
$
38,465

Accumulated amortization
(12,004
)
 
(17,206
)
Above-market leases, net
11,193

 
21,259

Deferred leasing costs and in-place lease intangibles
361,416

 
347,531

Accumulated amortization
(138,111
)
 
(111,128
)
Deferred leasing costs and in-place lease intangibles, net
223,305

 
236,403

Below-market ground leases
59,578

 
59,578

Accumulated amortization
(4,394
)
 
(2,757
)
Below-market ground leases, net
55,184

 
56,821

Deferred leasing costs and lease intangible assets, net
$
289,682

 
$
314,483

 
 
 
 
Below-market leases
$
134,445

 
$
138,852

Accumulated amortization
(58,381
)
 
(45,455
)
Below-market leases, net
76,064

 
93,397

Above-market ground leases
1,095

 
1,095

Accumulated amortization
(78
)
 
(46
)
Above-market ground leases, net
1,017

 
1,049

Lease intangible liabilities, net
$
77,081

 
$
94,446


The Company recognized the following amortization related to deferred leasing costs and lease intangibles:
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2016
 
2015
 
2016
 
2015
Above-market lease(1)
$
2,809

 
$
4,489

 
$
10,223

 
$
8,751

Below-market lease(1)
7,311

 
8,393

 
24,027

 
24,512

Deferred leasing costs and in-place lease intangibles(2)
20,742

 
29,312

 
65,408

 
65,058

Above-market ground lease(3)
11

 
18

 
33

 
35

Below-market ground lease(3)
545

 
533

 
1,637

 
1,127


__________________ 
(1)
Amortization is recorded in office rental income in the Consolidated Statements of Operations.
(2)
Amortization is recorded in depreciation and amortization expense and office rental income in the Consolidated Statements of Operations.
(3)
Amortization is recorded in office operating expenses in the Consolidated Statements of Operations.