INTANGIBLE ASSETS AND LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Intangible Assets and Liabilities

The following table summarizes the Company’s intangible assets and liabilities as of December 31, 2017 and 2016 (in thousands):

	December 31,
	2017			2016
Lease Intangible Assets:
Above market leases	$	76,443		$	—
Tenant origination and absorption costs	76,336			23,987
Tenant relationship	27,436			7,430
Gross lease intangible assets	180,215			31,417
Accumulated amortization	(13,096		)	(5,167		)
Lease intangible assets, net	$	167,119		$	26,250
Lease Intangible Liabilities:
Below market leases	$	102,643		$	—
Accumulated amortization	(4,628		)	—
Lease intangible liabilities, net	$	98,015		$	—

Summary of Real Estate Intangible Amortization

The following is a summary of real estate intangible amortization income (expense) for the years ended December 31, 2017, 2016 and 2015 (in thousands):

	Year Ended December 31,
	2017			2016			2015
Increase to rental income related to above/below market leases, net	$	912		$	—		$	—
Depreciation and amortization related to tenant origination and absorption costs and tenant relationship	(11,822		)	(3,182		)	(3,195		)

Remaining Unamortized Balance for Outstanding Intangible Assets and Liabilities

The remaining unamortized balance for these outstanding intangible assets and liabilities as of December 31, 2017 will be amortized for the years ending December 31 as follows (dollars in thousands):

	Lease Intangible Assets		Lease Intangible Liabilities
2018	$	21,814	$	13,588
2019	21,612		13,588
2020	18,482		12,328
2021	16,619		8,119
2022	15,193		7,227
Thereafter	73,399		43,165
	$	167,119	$	98,015
Weighted-average remaining amortization period	10.5 years		9.8 years