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Intangible Assets and Liabilities
 3 Months Ended
Mar. 31, 2016
Intangible Assets And Liabilities [Abstract]  
Intangible Assets and Liabilities
Intangible Assets and Liabilities

In connection with our acquisitions of properties, we have recorded net lease intangibles that are being amortized over periods ranging from three years to 53 years. In addition, we have several ground lease intangibles that are being amortized over periods of up to 94 years. In-place lease intangibles and tenant relationship intangibles are included in In-place lease and tenant relationship intangible assets, net in the consolidated financial statements. Above-market rent, below-market ground lease (as lessee) intangibles, and goodwill are included in Other intangible assets, net in the consolidated financial statements. Below-market rent and above-market ground lease (as lessor) intangibles are included in Below-market rent and other intangible liabilities, net in the consolidated financial statements.

In connection with our investment activity during the three months ended March 31, 2016, we recorded net lease intangibles comprised as follows (life in years, dollars in thousands):
 
Weighted-Average Life
 
Amount
Amortizable Intangible Assets
 
 
 
In-place lease
19.7
 
$
1,088

Above-market rent
20.0
 
221

 
 
 
$
1,309



Intangible assets, intangible liabilities, and goodwill are summarized as follows (in thousands):
 
March 31, 2016
 
December 31, 2015
 
Gross Carrying Amount
 
Accumulated Amortization
 
Net Carrying Amount
 
Gross Carrying Amount
 
Accumulated Amortization
 
Net Carrying Amount
Amortizable Intangible Assets
 
 
 
 
 
 
 
 
 
 
 
In-place lease and tenant relationship
$
593,874

 
$
(150,239
)
 
$
443,635

 
$
588,858

 
$
(143,635
)
 
$
445,223

Above-market rent
90,212

 
(22,017
)
 
68,195

 
88,288

 
(20,405
)
 
67,883

Below-market ground leases
12,409

 
(370
)
 
12,039

 
12,184

 
(322
)
 
11,862

 
696,495

 
(172,626
)
 
523,869

 
689,330

 
(164,362
)
 
524,968

Unamortizable Intangible Assets
 
 
 
 
 
 
 
 
 
 
 
Goodwill
304

 
—

 
304

 
304

 
—

 
304

Total intangible assets
$
696,799

 
$
(172,626
)
 
$
524,173

 
$
689,634

 
$
(164,362
)
 
$
525,272

 
 
 
 
 
 
 
 
 
 
 
 
Amortizable Intangible Liabilities
 
 
 
 
 
 
 
 
 
 
 
Below-market rent
$
(117,719
)
 
$
22,882

 
$
(94,837
)
 
$
(116,952
)
 
$
21,364

 
$
(95,588
)
Above-market ground lease
(1,145
)
 
35

 
(1,110
)
 
(1,145
)
 
32

 
(1,113
)
Total intangible liabilities
$
(118,864
)
 
$
22,917

 
$
(95,947
)
 
$
(118,097
)
 
$
21,396

 
$
(96,701
)


Net amortization of intangibles, including the effect of foreign currency translation, was $9.1 million and $9.4 million for the three months ended March 31, 2016 and 2015, respectively. Amortization of below-market rent and above-market rent intangibles is recorded as an adjustment to Rental income; amortization of below-market ground lease and above-market ground lease intangibles is included in Property expenses; and amortization of in-place lease and tenant relationship intangibles is included in Depreciation and amortization.