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Intangibles (Tables)
 3 Months Ended
Mar. 31, 2017
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 (including those related to the Georgia Portfolio) as of March 31, 2017 and December 31, 2016 (in thousands):
 
March 31, 2017
 
December 31, 2016
 
Cost
 
Accumulated
Amortization
 
Net
 
Cost
 
Accumulated
Amortization
 
Net
Assets
 

 
 

 
 

 
 

 
 

 
 

In-place leases
$
250,038

 
$
(64,317
)
 
$
185,721

 
$
222,394

 
$
(55,605
)
 
$
166,789

Above market leases
48,884

 
(8,298
)
 
40,586

 
35,478

 
(6,909
)
 
28,569

Leasehold interest
712

 
(138
)
 
574

 
712

 
(124
)
 
588

Below market ground leases
43,920

 
(724
)
 
43,196

 
42,878

 
(539
)
 
42,339

Total
$
343,554


$
(73,477
)

$
270,077


$
301,462


$
(63,177
)

$
238,285

Liabilities
 

 
 

 
 

 
 

 
 

 
 

Below market lease
$
11,054

 
$
(2,914
)
 
$
8,140

 
$
10,297

 
$
(2,345
)
 
$
7,952

Above market ground leases
1,345

 
(52
)
 
1,293

 
1,345

 
(44
)
 
1,301

Total
$
12,399


$
(2,966
)

$
9,433


$
11,642


$
(2,389
)

$
9,253
Summary of the carrying amount of acquired lease intangibles The following is a summary of the acquired lease intangible amortization for the three month periods ended March 31, 2017 and 2016, respectively (in thousands):
 
 
Three Months Ended
March 31,
 
 
2017
 
2016
Amortization expense related to in-place leases
 
$
8,740

 
$
5,689

Decrease of rental income related to above-market leases
 
1,389

 
987

Decrease of rental income related to leasehold interest
 
14

 
15

Increase of rental income related to below-market leases
 
569

 
226

Decrease of operating expense related to above market ground leases
 
8

 
4

Increase in operating expense related to below market ground leases
 
185

 
47
Schedule of future amortization of the acquired lease intangibles Future aggregate net amortization of the acquired lease intangibles as of March 31, 2017, is as follows (in thousands):
 
Net Decrease in 
Revenue
 
Net Increase in 
Expenses
2017
$
(2,315
)
 
$
24,138

2018
(2,986
)
 
28,461

2019
(3,113
)
 
24,096

2020
(3,203
)
 
21,719

2021
(3,281
)
 
20,320

Thereafter
(19,505
)
 
108,776

Total
$
(34,403
)

$
227,510