Lease Intangibles, Net
 6 Months Ended
Jun. 30, 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 June 30, 2014 and December 31, 2013 (in thousands):
 
June 30,
2014
 
December 31,
2013
In-place leases
$
667,434

 
$
663,027

Above-market leases
98,631

 
95,118

Less: accumulated amortization
(166,958
)
 
(140,024
)
Intangible lease assets, net
$
599,107

 
$
618,121

 
 
 
 
Below-market leases
$
247,262

 
$
243,237

Less: accumulated amortization
(30,548
)
 
(23,123
)
Intangible lease liabilities, net
$
216,714

 
$
220,114


The amounts amortized as a net increase to rental revenue for capitalized above- and below-market leases was $3.0 million and $0.7 million for the six months ended June 30, 2014 and 2013, respectively. Above- and below-market lease amortization from properties acquired in connection with the Merger contributed $1.5 million of the increase during 2014. The value of in-place leases amortized and included in depreciation and amortization expense was $26.9 million and $8.8 million for the six months ended June 30, 2014 and 2013, respectively. Lease-in-place amortization from properties acquired in connection with the Merger contributed $16.7 million of the increase in 2014.