Quarterly report pursuant to Section 13 or 15(d)

INVESTMENT PROPERTIES (Tables)

v3.22.1
INVESTMENT PROPERTIES (Tables)
 3 Months Ended
Mar. 31, 2022
Real Estate [Abstract]  
Amortization related to the acquired lease intangible assets and liabilities
The following table presents the amortization during the next five years and thereafter related to the lease intangible assets and liabilities for properties owned as of March 31, 2022.
Period from April 1 to December 31, 2022 2023 2024 2025 2026 Thereafter Total
Amortization of:
Above market lease intangibles (a) $ 6,001  $ 8,001  $ 8,001  $ 8,001  $ 8,001  $ 112,013  $ 150,018 
In-place lease intangibles (a) 4,049  5,399  5,399  5,399  5,399  75,588  101,233 
Lease intangible assets, net (b) $ 10,050  $ 13,400  $ 13,400  $ 13,400  $ 13,400  $ 187,601  $ 251,251 
Below market lease intangibles (a) $ 5,004  $ 6,672  $ 6,672  $ 6,672  $ 6,672  $ 93,409  $ 125,101 
Lease intangible liabilities, net $ 5,004  $ 6,672  $— $ 6,672  $ 6,672  $ 6,672  $ 93,409  $— $ 125,101 

(a) Represents the portion of the leases in which the Trust is the lessor. The amortization of above and below market lease intangibles is recorded as an adjustment to lease income and the amortization of in-place lease intangibles is recorded to depreciation and amortization expense.
Dispositions
The following table summarizes the disposition activity for the three months ended March 31, 2022:

Sale Date Location Property Type Ownership Square Footage Gross Sales Proceeds Aggregate Proceeds, Net Gain
1/6/22 Culver City, CA Retail Fee Simple 204  $ 22,000  $ 20,961  $ 3,651