INTANGIBLE ASSETS AND LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2018

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, 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

Summary of Real Estate Intangible Amortization

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		)

Remaining Unamortized Balance for Outstanding Intangible Assets and Liabilities

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