Douglas Emmett Inc
For the period ended Dec 31, 2025. Filed Feb 20, 2026.
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FY2025 · Filed Feb 20, 2026
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Acquired Lease Intangibles
- Acquired Lease Intangibles
Summary of our Acquired Lease Intangibles
| (In thousands) | December 31, 2025 | December 31, 2024 |
|---|---|---|
| Above-market tenant leases | $6,775 | $4,338 |
| Above-market tenant leases - accumulated amortization | (2,870) | (2,694) |
| Above-market ground lease where we are the lessor | 1,152 | 1,152 |
| Above-market ground lease - accumulated amortization | (326) | (309) |
| Acquired lease intangible assets, net | $4,731 | $2,487 |
| Below-market tenant leases | $28,095 | $34,704 |
| Below-market tenant leases - accumulated accretion | (19,819) | (23,373) |
| Acquired lease intangible liabilities, net | $8,276 | $11,331 |
Impact on the Consolidated Statements of Operations
The table below summarizes the net amortization/accretion related to our above- and below-market leases:
| Year Ended December 31, | |||
|---|---|---|---|
| (In thousands) | 2025 | 2024 | 2023 |
| Net accretion of above- and below-market tenant lease assets and liabilities(1) | $4,844 | $8,040 | $10,978 |
| Amortization of an above-market ground lease asset(2) | (17) | (17) | (17) |
| Total | $4,827 | $8,023 | $10,961 |
(1) Recorded as a net increase to office and multifamily rental revenues.
(2) Recorded as a decrease to office parking and other income.
The table below presents the future net accretion related to our above- and below-market leases at December 31, 2025.
| Year ending December 31, | Net increase (decrease) to revenues |
|---|---|
| (In thousands) | |
| 2026 | $2,709 |
| 2027 | 1,392 |
| 2028 | 603 |
| 2029 | 60 |
| 2030 | (25) |
| Thereafter | (1,194) |
| Total | $3,545 |
F- 21
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