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Acquired Lease Intangibles (Tables)
3 Months Ended
Mar. 31, 2013
Acquired Lease Intangibles [Abstract]  
Schedule Of Acquired Lease Intangible Assets And Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

March 31, 2013

 

December 31, 2012

Acquired lease intangible assets:

 

 

 

 

 

 

In-place leases

 

$

22,588 

 

$

27,821 

In-place leases – accumulated amortization

 

 

(11,330)

 

 

(14,096)

Below market ground lease

 

 

358 

 

 

358 

Below market ground lease - accumulated amortization

 

 

(40)

 

 

 -

Above-market leases

 

 

3,599 

 

 

3,774 

Above-market leases – accumulated amortization

 

 

(1,844)

 

 

(1,881)

Acquired leases intangibles, net

 

$

13,331 

 

$

15,976 

 

 

 

 

 

 

 

Acquired lease intangible liabilities:

 

 

 

 

 

 

Below-market leases

 

$

4,280 

 

$

6,286 

Below-market leases – accumulated amortization

 

 

(1,717)

 

 

(2,779)

Acquired below-market lease intangibles, net

 

$

2,563 

 

$

3,507 

 

Schedule Of Acquired Lease Intangible Amortization Details

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended March 31,

 

Presentation

 

2013

 

2012

 

 

 

 

 

 

 

 

 

In-place leases

 

amortization expense

 

$

1,210 

 

$

581 

Below-market ground lease

 

property expense

 

$

40 

 

$

 -

Above-market leases

 

reduction of rental income

 

$

138 

 

$

24 

Below-market leases

 

increase in rental income

 

$

247 

 

$

78