INTANGIBLE LEASE ASSETS AND LIABILITIES (Tables)

6 Months Ended

Jun. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of finite-lived intangible assets

Intangible lease assets and liabilities consisted of the following as of June 30, 2020 and December 31, 2019 (in thousands, except weighted average life remaining):



	June 30, 2020		December 31, 2019
Intangible lease assets:
In-place leases and other intangibles, net of accumulated amortization of $126,962 and $111,670, respectively (with a weighted average life remaining of 9.9 years and 10.4 years, respectively)
	$	158,508	$	164,724
Acquired above-market leases, net of accumulated amortization of $21,594 and $19,310, respectively (with a weighted average life remaining of 7.5 years and 7.9 years, respectively)
	16,919		17,423
Total intangible lease assets, net	$	175,427	$	182,147
Intangible lease liabilities:
Acquired below-market leases, net of accumulated amortization of $30,736 and $25,800, respectively (with a weighted average life remaining of 6.8 years and 7.3 years, respectively)
	$	18,592	$	20,523

Schedule of finite-lived intangible assets amortization expense

The following table summarizes the amortization related to the intangible lease assets and liabilities for the three and six months ended June 30, 2020 and 2019 (in thousands):



	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
In-place lease and other intangible amortization	$	5,615	$	8,880	$	11,555	$	18,354
Above-market lease amortization	$	729	$	1,177	$	1,637	$	2,467
Below-market lease amortization	$	1,267	$	1,666	$	2,666	$	3,482

Schedule of finite-lived intangible assets, future amortization expense

As of June 30, 2020, the estimated amortization relating to the intangible lease assets and liabilities is as follows (in thousands):



	Amortization
	In-Place Leases and Other Intangibles		Above-Market Leases		Below-Market Leases
Remainder of 2020	$	11,043	$	1,421	$	2,476
2021	19,519		2,326		3,051
2022	18,025		2,138		2,522
2023	15,967		1,872		2,160
2024	14,161		1,411		1,645
Thereafter	79,793		7,751		6,738
Total	$	158,508	$	16,919	$	18,592