Acquired Lease Intangibles (Tables)

12 Months Ended

Dec. 31, 2018

Acquired Lease Intangibles

Summary of the company's acquired lease intangibles

The following table summarizes the Company’s acquired lease intangibles as of December 31, 2018 (in thousands):

	December 31, 2018
	Gross Carrying		Accumulated		Net Carrying
	Amount		Amortization		Amount
In-place lease assets	$	57,689	$	32,370	$	25,319
Above-market lease assets	4,917		2,676		2,241
Below-market lease liabilities	18,692		6,014		12,678
Below-market ground lease assets	1,920		299		1,621

The following table summarizes the Company’s acquired lease intangibles as of December 31, 2017 (in thousands):

	December 31, 2017
	Gross Carrying		Accumulated		Net Carrying
	Amount		Amortization		Amount
In-place lease assets	$	50,506	$	25,193	$	25,313
Above-market lease assets	4,817		1,923		2,894
Below-market lease liabilities	18,089		4,260		13,829
Below-market ground lease assets	1,920		246		1,674

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,
2019	$	859	$	53	$	5,967
2020	730		53		4,314
2021	742		53		2,846
2022	725		53		2,218
2023	703		53		1,969