Lease Intangibles, net
 9 Months Ended
Sep. 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 September 30, 2014 and December 31, 2013 (in thousands):
 
September 30,
2014
 
December 31,
2013
In-place leases
$
675,926

 
$
663,027

Above-market leases
100,112

 
95,118

Less: accumulated amortization
(176,163
)
 
(140,024
)
Intangible lease assets, net
$
599,875

 
$
618,121

 
 
 
 
Below-market leases
$
254,034

 
$
243,237

Less: accumulated amortization
(34,408
)
 
(23,123
)
Intangible lease liabilities, net
$
219,626

 
$
220,114


The amounts amortized as a net increase to rental revenue for capitalized above- and below-market leases was $4.6 million and $1.4 million for the nine months ended September 30, 2014 and 2013 and $1.6 million and $0.7 million for the three months ended September 30, 2014 and 2013, respectively. The value of in-place leases amortized and included in depreciation and amortization expense was $40.0 million and $19.8 million for the nine months ended September 30, 2014 and 2013 and $13.1 million and $10.9 million for the three months ended September 30, 2014 and 2013, respectively. The increase in above- and below-market lease and lease-in-place amortization was primarily attributable to the properties acquired in connection with the Merger.