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Acquired Intangible Assets and Liabilities
12 Months Ended
Dec. 31, 2015
Acquired Intangible Assets and Liabilities  
Acquired Intangible Assets and Liabilities

4. Acquired Intangible Assets and Liabilities

        The gross above-market lease value at December 31, 2015, and 2014, was $2.2 million and $2.7 million, respectively, and total accumulated amortization at December 31, 2015, and 2014, was $1.8 million and $1.9 million, respectively. The gross below-market lease value at December 31, 2015, and 2014, was $10.0 million and $10.3 million, respectively, and total accumulated amortization at December 31, 2015, and 2014, was $5.3 million and $4.7 million, respectively. The net effect of amortization of acquired above-market and below-market leases resulted in an increase to rental revenue of $0.5 million, $0.6 million, and $0.8 million, for the years ended December 31, 2015, 2014, and 2013, respectively. The estimated amortization of acquired below-market leases, net of acquired above-market leases for each of the five succeeding fiscal years, which will be a net increase to rental revenue, is as follows (in thousands):

                                                                                                                                                                                    

Year Ending December 31,

 

 

 

2016

 

$

541 

 

2017

 

 

572 

 

2018

 

 

573 

 

2019

 

 

245 

 

2020

 

 

136 

 

Thereafter

 

 

2,195 

 

​  

​  

Total

 

$

4,262 

 

​  

​  

​  

​  

        Amortization of all other identified intangible assets was $2.0 million, $3.4 million, and $7.4 million, for the years ended December 31, 2015, 2014, and 2013, respectively. At December 31, 2015, and 2014, the gross intangible asset values were $14.0 million and $18.8 million, respectively, and the total accumulated amortization balance was $9.7 million and $12.5 million, respectively. The estimated amortization of all other identified intangible assets for each of the five succeeding fiscal years is as follows (in thousands):

                                                                                                                                                                                    

Year Ending December 31,

 

 

 

2016

 

$

1,630 

 

2017

 

 

1,136 

 

2018

 

 

621 

 

2019

 

 

316 

 

2020

 

 

115 

 

Thereafter

 

 

457 

 

​  

​  

Total

 

$

4,275 

 

​  

​  

​  

​