Annual report pursuant to Section 13 and 15(d)

Deferred Charges

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Deferred Charges
 12 Months Ended
Dec. 31, 2023
Deferred Costs [Abstract]  
Deferred Charges Deferred Charges
Deferred lease costs and other intangibles, net as of December 31, 2023 and 2022, consist of the following (in thousands):
2023 2022
Deferred lease costs $ 98,933  $ 89,103 
Intangible assets:
Above market leases 41,535  36,085 
Lease in place value 74,486  52,280 
Tenant relationships 29,623  32,912 
Other intangibles 40,458  40,651 
285,035  251,031 
Accumulated amortization (193,766) (192,457)
Deferred lease costs and other intangibles, net $ 91,269  $ 58,574 

Below market lease intangibles, net of accumulated amortization, included in other liabilities on the consolidated balance sheets as of December 31, 2023 and 2022 were $18.1 million and $13.3 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, 2023, 2022 and 2021 was $8.8 million, $11.6 million and $10.7 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, 2023, 2022 and 2021 was $(275,000), $(1.0) million and $78,000, 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 (1)
Lease Cost Intangibles (2)
2024 $ 121  $ 17,144 
2025 (255) 12,072 
2026 (544) 8,178 
2027 (642) 5,779 
2028 (718) 3,447 
Total $ (2,038) $ 46,620 
(1)These net amounts are recorded as a reduction (increase) of base rentals.
(2)These amounts are recorded as an increase in depreciation and amortization.