Intangibles, net (Tables)

9 Months Ended

Sep. 30, 2018

Goodwill And Intangible Assets Disclosure [Abstract]

Schedule of Gross Carrying Amount and Accumulated Amortization of Intangibles

The gross carrying amount and accumulated amortization of the Company’s intangible assets and liabilities as of September 30, 2018 and December 31, 2017 are as follows:

	September 30,			December 31,
	2018			2017
In-place lease intangibles	$	2,209,247		$	2,209,125
In-place resident agreement intangibles		2,569,378			1,286,507
Below-market ground lease intangibles		1,543,910			1,543,824
Less: accumulated amortization		(1,015,163	)		(385,952	)
Intangible assets, net	$	5,307,372		$	4,653,504
Below-market lease intangibles	$	(340,409	)	$	(340,390	)
Less: accumulated amortization		22,915		―
Intangible liabilities, net (1)	$	(317,494	)	$	(340,390	)

FOOTNOTE:

⁽¹⁾ Intangible liabilities, net are included in other liabilities in the accompanying condensed consolidated balance sheets.

Schedule of Estimated Future Amortization of Intangibles

The estimated future amortization on the Company’s intangibles for the remainder of 2018, each of the next four years and thereafter, in the aggregate, as of September 30, 2018 is as follows:

	In-Place Lease Intangibles		In-Place Resident Agreement Intangibles		Below- market Ground Leases		Total Assets		Below- market leases		Total Liabilities
2018	$	56,939	$	256,938	$	9,897	$	323,774	$	7,638	$	7,638
2019		227,754		899,100		39,587		1,166,441		30,553		30,553
2020		198,365		513,148		39,587		751,100		27,103		27,103
2021		188,568		85,525		39,587		313,680		25,953		25,953
2022		188,568	―			39,587		228,155		25,953		25,953
Thereafter		1,178,248	―			1,345,974		2,524,222		200,294		200,294
	$	2,038,442	$	1,754,711	$	1,514,219	$	5,307,372	$	317,494	$	317,494