Goodwill and Intangibles (Tables)

6 Months Ended

Jun. 30, 2020

Goodwill and Intangibles

Summary of intangibles assets

The following table summarizes our intangible assets, which are comprised of servicing rights intangibles and lease intangibles, as of June 30, 2020 and December 31, 2019 (amounts in thousands):

	As of June 30, 2020						As of December 31, 2019
	Gross Carrying		Accumulated		Net Carrying		Gross Carrying		Accumulated		Net Carrying
	Value		Amortization		Value		Value		Amortization		Value
Domestic servicing rights, at fair value	$	13,955	$	—	$	13,955	$	16,917	$	—	$	16,917
In-place lease intangible assets		133,244		(87,917)		45,327		135,293		(84,383)		50,910
Favorable lease intangible assets		24,188		(7,177)		17,011		24,218		(6,345)		17,873
Total net intangible assets	$	171,387	$	(95,094)	$	76,293	$	176,428	$	(90,728)	$	85,700

Summary of activity within intangible assets

The following table summarizes the activity within intangible assets for the six months ended June 30, 2020 (amounts in thousands):

	Domestic		In-place Lease		Favorable Lease
	Servicing		Intangible		Intangible
	Rights		Assets		Assets		Total
Balance as of January 1, 2020	$	16,917	$	50,910	$	17,873	$	85,700
Amortization		—		(5,413)		(862)		(6,275)
Sales		—		(170)		—		(170)
Changes in fair value due to changes in inputs and assumptions		(2,962)		—		—		(2,962)
Balance as of June 30, 2020	$	13,955	$	45,327	$	17,011	$	76,293

Schedule of future amortization expense

The following table sets forth the estimated aggregate amortization of our in-place lease intangible assets and favorable lease intangible assets for the next five years and thereafter (amounts in thousands):

2020 (remainder of)	$	5,407
2021		9,653
2022		7,871
2023		6,115
2024		4,722
Thereafter		28,570
Total	$	62,338