Lease Intangibles, Net
 3 Months Ended
Mar. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]  
Lease Intangibles, Net
Lease Intangibles, net
The following table details lease intangible assets and liabilities, net of accumulated amortization, as of March 31, 2014 and December 31, 2013 (in thousands):
 
March 31,
2014
 
December 31,
2013
In-place leases
$
670,789

 
$
663,027

Above-market leases
97,571

 
95,118

Less: accumulated amortization
(155,198
)
 
(140,024
)
Intangible lease assets, net
$
613,162

 
$
618,121

 
 
 
 
Below-market leases
$
246,452

 
$
243,237

Less: accumulated amortization
(26,575
)
 
(23,123
)
Intangible lease liabilities, net
$
219,877

 
$
220,114


The amounts amortized as a net increase to rental revenue for capitalized above- and below-market leases was $1.3 million and $0.3 million for the three months ended March 31, 2014 and 2013, respectively. Above- and below-market lease amortization from properties acquired in connection with the Merger contributed $0.9 million of the increase during 2014. The value of in-place leases amortized and included in depreciation and amortization expense was $13.4 million and $4.4 million for the three months ended March 31, 2014 and 2013, respectively. Lease-in-place amortization from properties acquired in connection with the Merger contributed $8.0 million of the increase in 2014.