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Intangible Assets and Liabilities (Tables)
 12 Months Ended
Dec. 31, 2014
Intangible Assets And Liabilities [Abstract]  
Schedule Of Acquired Finite Lived Intangible Assets Liabilities By Major Class
In connection with our investment activity during the year ended December 31, 2014, we recorded net lease intangibles comprised as follows (life in years, dollars in thousands):
 
Weighted-Average Life
 
Amount
Amortizable Intangible Assets
 
 
 

In-place lease
11.4
 
$
135,679

Above-market rent
13.7
 
11,067

Below-market ground lease
74.9
 
9,625

 
 
 
$
156,371

Amortizable Intangible Liabilities
 
 
 
Below-market rent
16.2
 
$
(4,723
)
Above-market ground lease
81.1
 
(133
)
 
 
 
$
(4,856
)
Schedule of Goodwill
The following table presents a reconciliation of our goodwill (in thousands):
 
 
Total
Balance at January 1, 2014
 
$
—

Acquisition of Siemens AS (a)
 
6,982

Acquisition of Albion Resorts (a)
 
4,058

Foreign currency translation adjustment
 
(1,348
)
Balance at December 31, 2014
 
$
9,692


___________
(a)
This asset represents the consideration exceeding the fair value of the identifiable assets acquired and liabilities assumed in our Siemens AS and Albion Resorts investments (Note 4).
Schedule Of Intangible Assets and Liabilities
Intangible assets and liabilities are summarized as follows (in thousands):
 
December 31,
 
2014
 
2013
 
Gross Carrying Amount
 
Accumulated Amortization
 
Net Carrying Amount
 
Gross Carrying Amount
 
Accumulated Amortization
 
Net Carrying Amount
Amortizable Intangible Assets
 
 
 
 
 
 
 
 
 
 
 
In-place lease
$
177,970

 
$
(10,335
)
 
$
167,635

 
$
53,832

 
$
(495
)
 
$
53,337

Below-market ground lease
15,790

 
(167
)
 
15,623

 
8,227

 
(3
)
 
8,224

Above-market rent
10,424

 
(380
)
 
10,044

 
—

 
—

 
—

 
204,184

 
(10,882
)
 
193,302

 
62,059

 
(498
)
 
61,561

Unamortizable Intangible Assets
 
 
 
 
 
 
 
 
 
 
 
Goodwill
9,692

 
—

 
9,692

 
—

 
—

 
—

Total intangible assets
$
213,876

 
$
(10,882
)
 
$
202,994

 
$
62,059

 
$
(498
)
 
$
61,561

 
 
 
 
 
 
 
 
 
 
 
 
Amortizable Intangible Liabilities
 
 
 
 
 
 
 
 
 
 
 
Below-market rent
$
(6,276
)
 
$
347

 
$
(5,929
)
 
$
(1,647
)
 
$
40

 
$
(1,607
)
Above-market ground lease
(127
)
 
—

 
(127
)
 
—

 
—

 
—

Total intangible liabilities
$
(6,403
)
 
$
347

 
$
(6,056
)
 
$
(1,647
)
 
$
40

 
$
(1,607
)
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense
Based on the intangible assets and liabilities recorded at December 31, 2014, scheduled annual net amortization of intangibles is as follows (in thousands):
Years Ending December 31,
 
Net Decrease in Rental Income
 
Increase to Amortization/Property Expenses
 
Net
2015
 
$
98

 
$
17,298

 
$
17,396

2016
 
427

 
16,572

 
16,999

2017
 
370

 
14,865

 
15,235

2018
 
304

 
13,636

 
13,940

2019
 
295

 
13,113

 
13,408

Thereafter
 
2,621

 
107,647

 
110,268

Total
 
$
4,115

 
$
183,131

 
$
187,246