INTANGIBLE ASSETS AND LIABILITIES

12 Months Ended

Dec. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS AND LIABILITIES

INTANGIBLE ASSETS AND LIABILITIES

The following table summarizes the Company’s intangible assets and liabilities as of December 31, 2018 and 2017 (in thousands):

	December 31,
	2018			2017
Lease Intangible Assets:
Above market leases	$	61,572		$	76,443
Tenant origination and absorption costs	73,323			76,336
Tenant relationship	26,936			27,436
Gross lease intangible assets	161,831			180,215
Accumulated amortization	(30,734		)	(13,096		)
Lease intangible assets, net	$	131,097		$	167,119
Lease Intangible Liabilities:
Below market leases	$	102,098		$	102,643
Accumulated amortization	(18,372		)	(4,628		)
Lease intangible liabilities, net	$	83,726		$	98,015

The following is a summary of real estate intangible amortization income (expense) for the years ended December 31, 2018, 2017 and 2016 (in thousands):

	Year Ended December 31,
	2018			2017			2016
(Decrease) increase to rental income related to above/below market leases, net	$	(7,701	)	$	912		$	—
Depreciation and amortization related to tenant origination and absorption costs and tenant relationship	(16,118		)	(11,822		)	(3,182		)

The remaining unamortized balance for these outstanding intangible assets and liabilities as of December 31, 2018 will be amortized for the years ending December 31 as follows (dollars in thousands):

	Lease Intangible Assets		Lease Intangible Liabilities
2019	$	21,367	$	13,779
2020	17,822		12,221
2021	15,363		8,012
2022	14,427		7,269
2023	11,317		7,269
Thereafter	50,801		35,176
	$	131,097	$	83,726
Weighted-average remaining amortization period	8.9 years		9.3 years