Intangible Assets and Liabilities

6 Months Ended

Jun. 30, 2020

Identified Intangibles, Net [Abstract]

Intangible assets and liabilities consisted of the following as of June 30, 2020 and December 31, 2019, respectively (in thousands, except weighted average remaining amortization terms):


	June 30, 2020					December 31, 2019
	Balance		Weighted Average Remaining Amortization in Years	Balance		Weighted Average Remaining Amortization in Years
Assets:
In place leases	$	483,001	9.6	$	481,173	9.5
Tenant relationships	146,477		9.8	146,893		9.7
Above market leases	37,779		6.0	37,613		6.2
	667,257			665,679
Accumulated amortization	(416,501)			(387,827)
Total	$	250,756	9.4	$	277,852	9.4

Liabilities:
Below market leases	$	66,599	14.4	$	65,966	13.9
Accumulated amortization	(31,523)			(27,187)
Total	$	35,076	14.4	$	38,779	13.9

The following is a summary of the net intangible amortization for the three and six months ended June 30, 2020 and 2019, respectively (in thousands):


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Amortization recorded against rental income related to above and (below) market leases	$	(751)	$	(529)	$	(2,719)	$	(1,020)
Amortization expense related to in place leases and tenant relationships	13,438		14,092		29,373		28,757