Acquired Lease Intangibles (Tables)

12 Months Ended

Dec. 31, 2015

Business Combinations [Abstract]

Summary of the Company's Acquired Lease Intangibles

The following table summarizes the Company’s acquired lease intangibles as of December 31, 2015 (in thousands):

	December 31, 2015
	Gross Carrying		Accumulated		Net Carrying
	Amount		Amortization		Amount
In-place lease assets	$	19,700	$	5,128	$	14,572
Above-market lease assets		2,380		314		2,066
Below-market lease liabilities		6,640		768		5,872
Below-market ground lease assets		1,920		140		1,780

The following table summarizes the Company’s acquired lease intangibles as of December 31, 2014 (in thousands):

	December 31, 2014
	Gross Carrying		Accumulated		Net Carrying
	Amount		Amortization		Amount
In-place lease assets	$	5,434	$	2,096	$	3,338
Above-market lease assets		107		32		75
Below-market lease liabilities		2,169		302		1,867
Below-market ground lease assets		1,920		86		1,834

Estimated Amortization of Acquired Lease Intangibles

Estimated amortization of acquired lease intangibles for each of the five succeeding years is as follows (in thousands):

					Depreciation and
	Rental Revenues		Rental Expenses		Amortization
Year ending December 31,
2016	$	146	$	53	$	3,521
2017		143		53		3,043
2018		174		53		2,089
2019		110		53		1,399
2020		85		53		1,250