Intangible Assets and Liabilities

Intangible assets and liabilities consisted of the following as of March 31, 2016 and December 31, 2015 (in thousands, except weighted average remaining amortization):



	March 31, 2016				December 31, 2015
	Balance			Weighted Average Remaining Amortization in Years	Balance			Weighted Average Remaining Amortization in Years
Assets:
In place leases	$	265,666		10.5	$	249,824		11.0
Tenant relationships	180,845			10.4	180,925			10.4
Above market leases	25,203			6.0	24,974			6.0
Below market leasehold interests	35,706			63.2	34,606			63.0
	507,420				490,329
Accumulated amortization	(230,271		)		(219,334		)
Total	$	277,149		16.5	$	270,995		16.6

Liabilities:
Below market leases	$	27,622		22.5	$	22,240		27.2
Above market leasehold interests	11,632			53.6	11,582			53.7
	39,254				33,822
Accumulated amortization	(7,716		)		(7,211		)
Total	$	31,538		33.2	$	26,611		38.0

The following is a summary of the net intangible amortization for the three months ended March 31, 2016 and 2015 (in thousands):



	Three Months Ended March 31,
	2016		2015
Amortization recorded against rental income related to above or below market leases	$	337	$	475
Rental expense related to above or below market leasehold interests	96		105
Amortization expense related to in place leases and tenant relationships	10,767		11,956