Acquired Lease Intangibles

Intangible assets and liabilities as of December 31, 2018 and 2017 consisted of the following (in thousands):



	December 31, 2018			December 31, 2017
Assets:
In-place leases	$	92,354		$	99,924
Accumulated amortization	(36,835		)	(36,971		)
Above-market leases	30,093			33,176
Accumulated amortization	(13,503		)	(13,351		)
Acquired lease intangible assets, net	$	72,109		$	82,778
Liabilities:
Below-market leases	$	217,212		$	222,929
Accumulated amortization	(51,066		)	(43,945		)
Acquired lease intangible liabilities, net	$	166,146		$	178,984

For the years ended December 31, 2018, 2017 and 2016, the net amortization of acquired lease intangible assets and acquired lease intangible liabilities for above and below market leases was $14.0 million, $17.1 million and $13.8 million, respectively, which amounts are included in base rents in the accompanying consolidated statements of operations and comprehensive income. For the years ended December 31, 2018, 2017 and 2016, the net amortization of in-place leases was $11.4 million, $14.4 million and $15.6 million, respectively, which amounts are included in depreciation and amortization in the accompanying consolidated statements of operations and comprehensive income.

The scheduled future amortization of acquired lease intangible assets as of December 31, 2018 is as follows (in thousands):



Year Ending December 31:
2019	$	10,573
2020	8,566
2021	6,898
2022	5,705
2023	5,092
Thereafter	35,275
Total future amortization of acquired lease intangible assets	$	72,109

The scheduled future amortization of acquired lease intangible liabilities as of December 31, 2018 is as follows (in thousands):



Year Ending December 31:
2019	$	14,675
2020	13,347
2021	12,075
2022	11,005
2023	9,999
Thereafter	105,045
Total future amortization of acquired lease intangible liabilities	$	166,146