Intangible Assets, net

12 Months Ended

Dec. 31, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets, net:

The gross carrying amount and accumulated amortization of the Company’s intangible assets as of December 31, 2016 and 2015 are as follows (in thousands):



Intangible Assets	Gross Carrying Amount		Accumulated Amortization			2016 Net Book Value
In place leases	$	11,224	$	(5,641	)	$	5,583
Trade name (indefinite-lived)	10,297		—			10,297
Total	$	21,521	$	(5,641	)	$	15,880



Intangible Assets	Gross Carrying Amount		Accumulated Amortization			2015 Net Book Value
In place leases	$	11,203	$	(5,013	)	$	6,190
Trade name (indefinite-lived)	10,297		—			10,297
Total	$	21,500	$	(5,013	)	$	16,487

Amortization expense (excluding properties classified as discontinued operations) was approximately $0.6 million, $0.7 million and $0.7 million for the years ended December 31, 2016, 2015 and 2014, respectively. The Company wrote off approximately $0.8 million of in-place lease intangibles for the year ended December 31, 2015, which are included as part of impairment provisions in the accompanying consolidated statements of operations. The Company did not have any write offs of in-place lease intangibles for the years ended December 31, 2016 and 2014.


5.	Intangible Assets, net (continued):

The estimated future amortization expense for the Company’s finite-lived intangible assets as of December 31, 2016 is as follows (in thousands):



2017	$	623
2018	549
2019	547
2020	547
2021	547
Thereafter	2,770
Total	$	5,583