LEASE INTANGIBLES

12 Months Ended

Dec. 31, 2015

LEASE INTANGIBLES

LEASE INTANGIBLES

NOTE 7 - Lease intangibles

The following table summarizes the net value of other intangible assets and liabilities and the accumulated amortization for each class of intangible:

	Lease		Accumulated		Lease
As of December 31, 2015	Intangibles		Amortization		Intangibles, net
Intangible Assets	(in thousands)
In-place leases	$	22,722	$	(6,974)	$	15,748
Above-market leases		3,117		(681)		2,436
	$	25,839	$	(7,655)	$	18,184
Intangible Liabilities
Below-market leases	$	(3,056)	$	803	$	(2,253)

	Lease		Accumulated		Lease
As of December 31, 2014	Intangibles		Amortization		Intangibles, net
Intangible Assets	(in thousands)
In-place leases	$	11,622	$	(4,385)	$	7,237
Above-market leases		2,466		(481)		1,985
	$	14,088	$	(4,866)	$	9,222
Intangible Liabilities
Below-market leases	$	(1,378)	$	572	$	(806)

The estimated aggregate amortization expense for each of the five succeeding fiscal years and thereafter is as follows:

	Intangible		Intangible
Years ending December 31,	Assets		Liabilities
	(in thousands)
2016	$	3,463	$	324
2017		2,501		285
2018		2,222		276
2019		1,908		266
2020		1,435		209
Thereafter		6,655		893
	$	18,184	$	2,253

The weighted average amortization period for the intangible assets (in-place leases, above-market leases) and intangible liabilities (below-market leases) acquired as of December 31, 2015was 4.9 years.