Annual report pursuant to Section 13 and 15(d)

Deferred Charges

v2.4.1.9
Deferred Charges
12 Months Ended
Dec. 31, 2014
Deferred Costs [Abstract]  
Deferred Charges
Deferred Charges

Deferred lease costs and other intangibles, net as of December 31, 2014 and 2013 consist of the following (in thousands):
 
 
2014
 
2013
Deferred lease costs
 
$
61,205

 
$
60,657

Intangible assets:
 
 
 
 
Above market leases
 
44,144

 
49,584

Lease in place value
 
69,893

 
102,085

Tenant relationships
 
57,230

 
62,438

Other intangibles
 
42,789

 
45,534

 
 
275,261

 
320,298

Accumulated amortization
 
(134,378
)
 
(156,717
)
Deferred lease costs and other intangibles, net
 
$
140,883

 
$
163,581



Below market lease intangibles, net of accumulated amortization, included in other liabilities on the consolidated balance sheets as of December 31, 2014 and 2013 were $12.9 million and $15.7 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, 2014, 2013 and 2012 was $20.9 million, $19.8 million and $24.1 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, 2014, 2013 and 2012 was $(2.8) million, $(686,000) and $803,000, 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
2015
 
$
2,324

 
$
11,478

2016
 
1,957

 
9,977

2017
 
1,997

 
8,195

2018
 
1,880

 
7,220

2019
 
466

 
4,922

Total
 
$
8,624

 
$
41,792



Deferred debt origination costs, net as of December 31, 2014 and 2013 consist of the following (in thousands):
 
 
2014
 
2013
Deferred debt origination costs
 
$
22,126

 
$
20,112

Accumulated amortization
 
(10,000
)
 
(9,294
)
Deferred debt origination costs, net
 
$
12,126

 
$
10,818



Amortization of deferred debt origination costs included in interest expense for the years ended December 31, 2014, 2013 and 2012 was $2.4 million, $2.2 million and $2.3 million, respectively.