NOTE 4 - 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 March 31, 2020	Intangibles		Amortization		Intangibles, net
Lease Intangible Assets	(in thousands)
In-place leases	$	21,018	$	(14,083)	$	6,935
Above-market leases		2,806		(1,346)		1,460
	$	23,824	$	(15,429)	$	8,395
Lease Intangible Liabilities
Below-market leases	$	(3,067)	$	1,916	$	(1,151)


	Lease		Accumulated		Lease
As of December 31, 2019	Intangibles		Amortization		Intangibles, net
Lease Intangible Assets	(in thousands)
In-place leases	$	21,480	$	(14,051)	$	7,429
Above-market leases		3,211		(1,507)		1,704
	$	24,691	$	(15,558)	$	9,133
Lease Intangible Liabilities
Below-market leases	$	(3,088)	$	1,881	$	(1,207)

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)
2020 (April 1, 2020 – December 31, 2020)	$	1,028	$	156
2021		1,121		184
2022		987		164
2023		849		151
2024		849		151
Thereafter		3,561		345
	$	8,395	$	1,151

The weighted average amortization period for the intangible assets, in-place leases, above-market leases, and below-market leases acquired as of March 31, 2020 was 6.6 years.