Deferred Leasing Costs and Lease Intangibles, net (Tables)

9 Months Ended

Sep. 30, 2019

The following summarizes the Company’s deferred leasing costs and lease intangibles as of:


	September 30, 2019		December 31, 2018
Deferred leasing costs and in-place lease intangibles	$	362,219	$	336,535
Accumulated amortization	(131,230)		(123,432)
Deferred leasing costs and in-place lease intangibles, net	230,989		213,103
Below-market ground leases	72,916		72,916
Accumulated amortization	(10,810)		(8,932)
Below-market ground leases, net	62,106		63,984
Above-market leases	8,047		8,425
Accumulated amortization	(6,183)		(5,616)
Above-market leases, net	1,864		2,809
DEFERRED LEASING COSTS AND LEASE INTANGIBLE ASSETS, NET	$	294,959	$	279,896

Below-market leases	$	88,777	$	101,736
Accumulated amortization	(54,946)		(57,043)
Below-market leases, net	33,831		44,693
Above-market ground leases	1,095		1,095
Accumulated amortization	(209)		(176)
Above-market ground leases, net	886		919
LEASE INTANGIBLE LIABILITIES, NET	$	34,717	$	45,612

The Company recognized the following amortization related to deferred leasing costs and lease intangibles:


	Three Months Ended September 30,						Nine Months Ended September 30,
	2019		2018		2019		2018
Deferred leasing costs and in-place lease intangibles⁽¹⁾	$	(10,813)	$	(11,038)	$	(34,006)	$	(34,157)
Below-market ground leases⁽²⁾	$	(626)	$	(602)	$	(1,878)	$	(1,840)
Above-market leases⁽³⁾	$	(296)	$	(355)	$	(944)	$	(1,238)
Below-market leases⁽³⁾	$	3,106	$	3,584	$	10,863	$	11,509
Above-market ground leases⁽²⁾	$	11	$	11	$	33	$	33

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1.Amortization is recorded in depreciation and amortization expenses and office rental revenues in the Consolidated Statements of Operations.

2.Amortization is recorded in office operating expenses in the Consolidated Statements of Operations.

3.Amortization is recorded in rental revenues in the Consolidated Statements of Operations.