XML 27 R16.htm IDEA: XBRL DOCUMENT v3.8.0.1
Other Liabilities, Net
9 Months Ended
Sep. 30, 2017
Other Liabilities Disclosure [Abstract]  
Other Liabilities, Net
Other Liabilities, Net
The following is a summary of other liabilities, net as of September 30, 2017 and December 31, 2016:
 
September 30,
2017
 
December 31,
2016
 
(In thousands)
Lease intangible liabilities
$
44,965

 
$
36,515

Accumulated amortization
(26,287
)
 
(24,945
)
Lease intangible liabilities, net
18,678

 
11,570

Prepaid rent
12,445

 
9,163

Lease assumptions liabilities and accrued tenant incentives
12,090

 
14,907

Capital lease obligation
15,976

 

Security deposits
13,795

 
10,324

Ground lease deferred rent payable
3,559

 
3,331

Deferred tax liability (1)
22,007

 

Other
2,224

 
192

Total other liabilities, net
$
100,774

 
$
49,487


___________________________________________
(1) 
As of September 30, 2017, the deferred tax liability of $22.0 million is related to the management and leasing contracts assumed in the Combination. See Note 3 for additional information.
The following is a summary of amortization expense included in the statements of operations related to lease intangible liabilities:
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2017
 
2016
 
2017
 
2016
 
(in thousands)
Lease intangible liabilities amortization (1)
$
633

 
$
359

 
$
1,343

 
$
1,076


___________________________________________

(1) Amounts are included in "Property rentals" in our statements of operations.
As of September 30, 2017, the estimated amortization of lease intangible liabilities is as follows for each of the five years commencing January 1, 2018:
Year ending December 31,
 
Amount
 
 
(in thousands)
2018
 
$
2,765

2019
 
2,679

2020
 
2,392

2021
 
1,917

2022
 
1,798