Summary of Significant Accounting Policies Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2018

Summary of Significant Accounting Policies [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The table below details the current and deferred income tax benefit (expense) for the years ended December 31, 2018, 2017 and 2016 (in thousands):

	2018			2017			2016
Current TRS income tax	$	(221	)	$	(163	)	$	(36	)
Current state income tax expense	(422		)	(360		)	(414		)
Current foreign income tax	—			(36		)	(77		)
Current foreign withholding tax	(1,069		)	(1,071		)	(1,130		)
Deferred TRS income tax	319			137			273
Deferred foreign withholding tax	—			43			39
Deferred income tax benefit (expense)	(892		)	(949		)	792
Income tax expense	$	(2,285	)	$	(2,399	)	$	(553	)

Schedule of Deferred Tax Assets and Liabilities

The Company’s consolidated deferred tax position is summarized as follows:

	2018			2017
Fixed assets	$	12,948		$	15,445
Net operating losses	359			357
Start-up costs	347			—
Other	457			213
Total deferred tax assets	$	14,111		$	16,015
Capital improvements	$	(2,079	)	$	(2,006	)
Straight-line receivable	(1,271		)	(1,891		)
Other	(1		)	—
Total deferred tax liabilities	$	(3,351	)	$	(3,897	)
Net deferred tax asset	$	10,760		$	12,118

Schedule of Intangible Assets and Goodwill

Intangible assets and liabilities (included in Other assets and Accounts payable and accrued liabilities in the accompanying consolidated balance sheets) consist of the following at December 31 (in thousands):

	2018			2017
Assets:
In-place leases, net of accumulated amortization of $7.7 million and $5.5 million, respectively	$	21,749		$	21,512
Above-market lease, net of accumulated amortization of $1.0 million and $0.8 million, respectively	154			351
Tradenames, net of accumulated amortization of $53 thousand and $23 thousand, respectively (1)	9,110			6,313
Contract value, net of accumulated amortization of $183 thousand and $0, respectively	10,785			—
Goodwill	693			693
Total intangible assets, net	$	42,491		$	28,869
Liabilities:
Below-market lease, net of accumulated amortization of $0.7 million and $0.3 million, respectively	$	(8,100	)	$	(8,792	)

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

Future amortization of in-place leases, net, above-market lease, net, tradenames, net, contract value, net and below-market lease, net at December 31, 2018 is as follows (in thousands):

	In place leases		Tradenames (1)		Contract Value		Above-market lease		Below-market lease
Year:
2019	$	3,109	$	125	$	365	$	101	$	(450	)
2020	2,834		125		365		6		(438		)
2021	2,466		125		365		6		(408		)
2022	1,826		125		365		6		(373		)
2023	1,777		125		365		6		(351		)
Thereafter	9,737		3,132		8,960		29		(6,080		)
Total	$	21,749	$	3,757	$	10,785	$	154	$	(8,100	)
Weighted average amortization period (years)	10.9		30.6		29.5		4.1		31.0
(1) Excludes $5.4 million in tradenames with indefinite lives.