| Intangible Assets and Below Market Lease Liabilities |
Intangible Assets and Below Market Lease Liabilities The following table sets forth total intangible assets and acquisition-related below market lease liabilities, net of accumulated amortization:
| | | | | | | | | | | | | March 31,
2026 | | December 31,
2025 | | Assets: | | | | | Deferred leasing costs (including lease incentives and above market lease and in-place lease acquisition-related intangible assets) | $ | 465,597 | | | $ | 414,230 | | | Less accumulated amortization | (176,466) | | | (169,972) | | | $ | 289,131 | | | $ | 244,258 | | | Liabilities (in accounts payable, accrued expenses and other liabilities): | | | | | Acquisition-related below market lease liabilities | $ | 37,646 | | | $ | 32,628 | | | Less accumulated amortization | (17,853) | | | (17,102) | | | $ | 19,793 | | | $ | 15,526 | |
The following table sets forth amortization of intangible assets and below market lease liabilities:
| | | | | | | | | | | | | | | | | | | Three Months Ended
March 31, | | | | | | 2026 | | 2025 | | Amortization of deferred leasing costs and acquisition-related intangible assets (in depreciation and amortization) | | | | | $ | 10,953 | | | $ | 9,004 | | | Amortization of lease incentives (in rental and other revenues) | | | | | $ | 884 | | | $ | 645 | | | Amortization of acquisition-related above market lease intangible assets (in rental and other revenues) | | | | | $ | 845 | | | $ | 598 | | | | | | | | | | | Amortization of acquisition-related below market lease liabilities (in rental and other revenues) | | | | | $ | (884) | | | $ | (752) | |
The following table sets forth scheduled future amortization of intangible assets and below market lease liabilities:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Amortization of Deferred Leasing Costs and Acquisition-Related Intangible Assets (in Depreciation and Amortization) | | Amortization of Lease Incentives (in Rental and Other Revenues) | | Amortization of Acquisition-Related Above Market Lease Intangible Assets (in Rental and Other Revenues) | | | | Amortization of Acquisition-Related Below Market Lease Liabilities (in Rental and Other Revenues) | | April 1 through December 31, 2026 | | | | $ | 35,615 | | | $ | 2,063 | | | $ | 2,589 | | | | | $ | (2,544) | | | 2027 | | | | 42,139 | | | 2,557 | | | 2,997 | | | | | (3,080) | | | 2028 | | | | 37,189 | | | 2,353 | | | 2,802 | | | | | (2,666) | | | 2029 | | | | 32,977 | | | 2,061 | | | 2,572 | | | | | (2,289) | | | 2030 | | | | 28,888 | | | 1,747 | | | 2,246 | | | | | (2,154) | | | Thereafter | | | | 76,017 | | | 5,252 | | | 7,067 | | | | | (7,060) | | | | | | $ | 252,825 | | | $ | 16,033 | | | $ | 20,273 | | | | | $ | (19,793) | | | Weighted average remaining amortization periods as of March 31, 2026 (in years) | | | | 7.3 | | 7.6 | | 7.7 | | | | 7.6 |
The following table sets forth the intangible assets acquired as a result of the acquisitions of Bloc83 in Raleigh and The Terraces in Dallas in the first quarter of 2026:
| | | | | | | | | | | | | | | | | | | | | | | | | | | Acquisition-Related Above Market Lease Intangible Assets (amortized in Rental and Other Revenues) | | Acquisition-Related Intangible Assets (amortized in Depreciation and Amortization) | | Acquisition-Related Below Market Lease Liabilities (amortized in Rental and Other Revenues) | | Amount recorded at acquisition | | | | $ | 7,751 | | | $ | 37,190 | | | $ | (5,152) | | | Weighted average remaining amortization periods as of March 31, 2026 (in years) | | | | 8.2 | | 6.9 | | 6.7 |
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