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Intangibles (Tables)
 9 Months Ended
Sep. 30, 2015
Finite-Lived Intangible Assets, Net [Abstract]  
Summary of the carrying amount of intangible assets and liabilities
The following is a summary of the carrying amount of intangible assets and liabilities as of September 30, 2015 and December 31, 2014 (in thousands):
 
 
September 30, 2015
 
December 31, 2014
 
Cost
 
Accumulated
Amortization
 
Net
 
Cost
 
Accumulated
Amortization
 
Net
Assets
 

 
 

 
 

 
 

 
 

 
 

In-place leases
$
141,139

 
$
(21,525
)
 
$
119,614

 
$
64,777

 
$
(12,213
)
 
$
52,564

Above market leases
21,366

 
(2,249
)
 
19,117

 
7,449

 
(578
)
 
6,871

Leasehold interest
712

 
(49
)
 
663

 
759

 
(5
)
 
754

Below market ground lease
12,870

 
(37
)
 
12,833

 
—

 
—

 
—

Total
$
176,087


$
(23,860
)

$
152,227


$
72,985


$
(12,796
)

$
60,189

Liability
 

 
 

 
 

 
 

 
 

 
 

Below market lease
$
4,955

 
$
(587
)
 
$
4,368

 
$
2,330

 
$
(156
)
 
$
2,174

Above market ground lease
701

 
(16
)
 
685

 
701

 
(4
)
 
697

Total
$
5,656


$
(603
)

$
5,053


$
3,031


$
(160
)

$
2,871
Summary of the carrying amount of acquired lease intangibles
The following is a summary of the acquired lease intangible amortization for the three and nine month periods ended September 30, 2015 and 2014, respectively (in thousands):
 
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2015
 
2014
 
2015
 
2014
Amortization expense related to in-place leases
$
4,253

 
$
1,002

 
$
10,124

 
$
2,724

Decrease of rental income related to above-market leases
742

 
86

 
1,671

 
205

Decrease of rental income related to leasehold interest
15

 
—

 
44

 
—

Increase of rental income related to below-market leases
167

 
9

 
431

 
10

Decrease of operating expense related to above market ground leases
4

 
—

 
12

 
—

Increase in operating expense related to below market ground lease
32

 
—

 
37

 
—
Schedule of future amortization of the acquired lease intangibles
Future aggregate net amortization of the acquired lease intangibles as of September 30, 2015, is as follows (in thousands):
 
 
Net Decrease in 
Revenue
 
Net Increase in 
Expenses
2015
$
(641
)
 
$
4,896

2016
(2,523
)
 
18,904

2017
(1,969
)
 
16,991

2018
(1,662
)
 
15,545

2019
(1,504
)
 
12,484

Thereafter
(7,113
)
 
62,942

Total
$
(15,412
)

$
131,762