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TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES
9 Months Ended
Sep. 30, 2020
Tenant Origination and Absorption Costs, Above-Market Lease Assets and Below-Market Lease Liabilities [Abstract]  
TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES
As of September 30, 2020 and December 31, 2019, the Company’s tenant origination and absorption costs, above-market lease assets and below-market lease liabilities (excluding fully amortized assets and liabilities and accumulated amortization) were as follows (in thousands):
 Tenant Origination and
Absorption Costs
Above-Market
Lease Assets
Below-Market
Lease Liabilities
 September 30, 2020December 31, 2019September 30, 2020December 31, 2019September 30, 2020December 31, 2019
Cost$27,984 $30,569 $3,499 $3,714 $(4,122)$(4,958)
Accumulated Amortization(11,861)(10,223)(767)(741)1,618 1,778 
Net Amount$16,123 $20,346 $2,732 $2,973 $(2,504)$(3,180)
Increases (decreases) in net income as a result of amortization of the Company’s tenant origination and absorption costs, above-market lease assets and below-market lease liabilities for the three and nine months ended September 30, 2020 and 2019 were as follows (in thousands):
 Tenant Origination and
Absorption Costs
Above-Market
Lease Assets
Below-Market
Lease Liabilities
 For the Three Months Ended September 30,For the Three Months Ended September 30,For the Three Months Ended September 30,
 202020192020201920202019
Amortization$(1,625)$(2,000)$(74)$(101)$194 $421 
 Tenant Origination and
Absorption Costs
Above-Market
Lease Assets
Below-Market
Lease Liabilities
 For the Nine Months Ended September 30,For the Nine Months Ended September 30,For the Nine Months Ended September 30,
 202020192020201920202019
Amortization$(4,965)$(5,324)$(241)$(303)$676 $1,159 
Additionally, as of September 30, 2020 and December 31, 2019, the Company had recorded tax abatement intangible assets, net of amortization, on real estate held for investment, which are included in prepaid expenses and other assets in the accompanying balance sheets, of $0.5 million and $1.0 million, respectively. During both of the three and nine months ended September 30, 2020 and 2019, the Company recorded amortization expense of $0.1 million and $0.5 million, respectively, related to tax abatement intangible assets. As of September 30, 2020, the tax abatement intangible assets had a remaining amortization period of 0.9 years.