Starwood Real Estate Income Trust, Inc. Notes to Consolidated Financial Statements
4. Intangibles The gross carrying amount and accumulated amortization of the Company’s intangible assets and liabilities consisted of the following ($ in thousands): December 31, 2024 December 31, 2023 Intangible assets: (1) In-place lease intangibles $ 226,714 $ 292,348 Above-market lease intangibles 35,344 44,463 Other 35,345 41,823 Total intangible assets 297,403 378,634
Accumulated amortization: In-place lease amortization Above-market lease amortization
(106,980) (16,348) (12,130) (135,458)
(127,185) (18,913) (12,500) (158,598) 220,036
Other
Total accumulated amortization
Intangible assets, net
$
161,945 $
Intangible liabilities: (2) Below-market lease intangibles Total intangible liabilities Accumulated amortization: Below-market lease amortization Total accumulated amortization
$
74,189 $
87,173 87,173
74,189
(26,588) (26,588)
(27,606) (27,606) 59,567
Intangible liabilities, net
$
47,601 $
(1) Included in Other assets on the Company’s Consolidated Balance Sheets. (2) Included in Other liabilities on the Company’s Consolidated Balance Sheets.
The estimated future amortization on the Company’s intangibles for each of the next five years and thereafter as of December 31, 2024 is as follows ($ in thousands):
In-place Lease Intangibles
Above-market Lease Intangibles
Below-market Lease Intangibles
Other
2025 2026 2027 2028 2029
$
24,511 $
3,778 $
2,694 $
(6,211) (5,602) (4,716) (4,654) (3,869) (22,549) (47,601)
20,119 16,661 13,373 10,931 34,139
3,528 2,990 2,432 2,342 3,926
2,694 2,694 2,693 3,399 9,041
Thereafter
$
119,734 $
18,996 $
23,215 $
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