LEASE INTANGIBLES (Tables)

3 Months Ended

Mar. 31, 2020

LEASE INTANGIBLES

Schedule of Intangible Assets, Liabilities and Accumulated Amortization

	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)

Schedule of Estimated Aggregate Amortization Expense

	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