Annual report pursuant to Section 13 and 15(d)

Deferred Charges

v2.4.0.8
Deferred Charges
12 Months Ended
Dec. 31, 2013
Deferred Costs [Abstract]  
Deferred Charges
Deferred Charges

Deferred lease costs and other intangibles, net as of December 31, 2013 and 2012 consist of the following (in thousands):
 
 
2013
 
2012
Deferred lease costs
 
$
60,657

 
$
56,327

Intangible assets:
 
 
 
 
Above market leases
 
49,584

 
31,735

Lease in place value
 
102,085

 
75,910

Tenant relationships
 
62,438

 
37,360

Other intangibles
 
45,534

 
44,139

 
 
320,298

 
245,471

Accumulated amortization
 
(156,717
)
 
(138,056
)
Deferred lease costs and other intangibles, net
 
$
163,581

 
$
107,415



Below market lease intangibles, net of accumulated amortization, included in other liabilities on the consolidated balance sheets as of December 31, 2013 and 2012 were $15.7 million and $6.4 million, respectively

Amortization of deferred lease costs and other intangibles, excluding above and below market leases, included in depreciation and amortization for the years ended December 31, 2013, 2012 and 2011 was $19.8 million, $24.1 million and $17.0 million, respectively.

Amortization of above and below market lease intangibles recorded as an increase or (decrease) in base rentals for the years ended December 31, 2013, 2012 and 2011 was $(686,000), $803,000 and $697,000, respectively.
 
Estimated aggregate amortization of net above and below market leases and other intangibles for each of the five succeeding years is as follows (in thousands):
Year
 
Above/below market leases, net
 
Deferred lease costs and other intangibles
2014
 
$
2,157

 
$
14,109

2015
 
2,466

 
12,136

2016
 
2,101

 
10,578

2017
 
2,133

 
8,680

2018
 
1,970

 
7,612

Total
 
$
10,827

 
$
53,115



Deferred debt origination costs, net as of December 31, 2013 and 2012 consist of the following (in thousands):
 
 
2013
 
2012
Deferred debt origination costs
 
$
20,112

 
$
16,110

Accumulated amortization
 
(9,294
)
 
(7,027
)
Deferred debt origination costs, net
 
$
10,818

 
$
9,083



Amortization of deferred debt origination costs included in interest expense for the years ended December 31, 2013, 2012 and 2011 was $2.2 million, $2.3 million and $2.1 million, respectively.