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Intangibles
 6 Months Ended
Jun. 30, 2020
Intangibles [Abstract]  
Intangible Assets Disclosure [Text Block]
5. Intangibles
The Company recorded
in-place
lease and above and below market lease intangibles as a result of its property acquisitions during the six months ended June 30, 2020. The gross carrying amount and accumulated amortization of the Company’s intangible assets consisted of the following as of June 30, 2020 and December 31, 2019:
 
Intangible assets:
  
June 30, 2020
 
  
December 31, 2019
 
In-place
lease intangibles
  
$
    10,377,387
 
  
$
6,467,661
 
Lease origination costs
  
 
3,855,334
 
  
 
1,867,804
 
Lease inducements
  
 
1,708,038
 
  
 
1,291,027
 
Above-market lease intangibles
  
 
64,338
 
  
 
58,585
 
 
  
 
 
 
  
 
 
 
Total intangible assets
  
 
16,005,097
 
  
 
9,685,077
 
Accumulated amortization:
  
   
  
   
In-place
lease intangibles
  
 
(4,512,330
) 
  
 
(2,015,770
) 
Lease origination costs
  
 
(341,322
) 
  
 
(131,353
) 
Lease inducements
  
 
(154,796
) 
  
 
(59,820
) 
Above-market lease intangibles
  
 
(62,599
) 
  
 
(24,647
) 
 
  
 
 
 
  
 
 
 
Total accumulated amortization
  
 
(5,071,047
) 
  
 
(2,231,590
) 
 
  
 
 
 
  
 
 
 
Intangible assets, net
  
$
10,934,050
 
  
$
7,453,487
 
 
  
 
 
 
  
 
 
 
Intangible liabilities:
  
   
  
   
Below-market lease intangibles
  
$
(113,924
) 
  
$
(71,598
) 
Accumulated amortization
  
 
31,638
 
  
 
14,439
 
 
  
 
 
 
  
 
 
 
Intangible liabilities, net
  
$
(82,286
) 
  
$
(57,159
) 
 
 
 
 
 
 
 
 
 
The weighted average amortization periods of the acquired
in-place
lease intangibles, above-market lease intangibles and below-market lease intangibles is 41 months.
The following table details the Company’s future amortization of intangible assets:
 
 
  
Amortization
 
For the remainder of 2020
  
$
1,685,409
 
2021
  
 
2,404,420
 
2022
  
 
2,071,305
 
2023
  
 
1,561,767
 
2024
  
 
1,215,351
 
Thereafter
  
 
1,995,798
 
  
 
 
 
Total
  
$
10,934,050