Intangible Assets

9 Months Ended

Sep. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

Intangible Assets

Intangible assets consist of lease intangibles for leases acquired with lease rates above market at the time of acquisition. The following table summarizes the amortization of intangible assets as of September 30, 2020 (in thousands):

Years ending December 31,	Total Intangible Assets
2020	$	5,227
2021	$	16,549
2022	$	10,497
2023	$	4,657
2024	$	1,962
2025 and thereafter	$	—
Total	$	38,892

Amortization expense related to intangible assets was $5.4 million and $17.3 million for the three and nine months ended September 30, 2020, respectively, and $8.8 million and $30.2 million for the three and nine months ended September 30, 2019, respectively.