Intangible Assets and Liabilities (Tables)

6 Months Ended

Jun. 30, 2018

Identified Intangibles, Net [Abstract]

Schedule of Intangible Assets and Liabilities

Intangible assets and liabilities consisted of the following as of June 30, 2018 and December 31, 2017, respectively (in thousands, except weighted average remaining amortization terms):

	June 30, 2018				December 31, 2017
	Balance			Weighted Average Remaining Amortization in Years	Balance			Weighted Average Remaining Amortization in Years
Assets:
In place leases	$	471,268		9.7	$	474,252		9.8
Tenant relationships	162,670			10.3	164,947			10.2
Above market leases	39,187			6.2	40,082			6.3
Below market leasehold interests	92,362			64.6	92,362			63.4
	765,487				771,643
Accumulated amortization	(344,214		)		(312,655		)
Total	$	421,273		20.9	$	458,988		19.5
Liabilities:
Below market leases	$	61,952		14.5	$	61,820		14.7
Above market leasehold interests	20,610			49.7	20,610			50.1
	82,562				82,430
Accumulated amortization	(17,598		)		(14,227		)
Total	$	64,964		24.9	$	68,203		25.0

Summary of Net Intangible Amortization

The following is a summary of the net intangible amortization for the three and six months ended June 30, 2018 and 2017, respectively (in thousands):

	Three Months Ended June 30,						Six Months Ended June 30,
	2018			2017			2018			2017
Amortization recorded against rental income related to above and (below) market leases	$	(246	)	$	(40	)	$	(308	)	$	(263	)
Rental expense related to above and (below) market leasehold interests	286			166			563			295
Amortization expense related to in place leases and tenant relationships	16,677			14,457			34,325			27,187