Acquired In-Place Leases (Tables)

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Finite-Lived Intangible Assets [Table Text Block]

The following is a summary of our acquired lease assets and liabilities:

	December 31, 2019						December 31, 2018
	Cost			Accumulated Amortization			Cost			Accumulated Amortization
	(in thousands)
Above market leases, lessor	$	48,530		$	(32,833	)	$	49,128		$	(33,843	)
Below market leases, lessee	34,604			(3,362		)	34,604			(2,533		)
Total	$	83,134		$	(36,195	)	$	83,732		$	(36,376	)
Below market leases, lessor	$	(177,512	)	$	66,419		$	(189,379	)	$	65,408
Above market leases, lessee	(9,084		)	1,590			(9,084		)	1,065
Total	$	(186,596	)	$	68,009		$	(198,463	)	$	66,473

Finite-lived Intangible Assets Amortization Expense [Table Text Block]

The following is a summary of acquired lease amortization:

	Year Ended December 31,
	2019			2018			2017
	(in thousands)
Amortization of above market leases, lessor	$	(3,239	)	$	(5,608	)	$	(6,005	)
Amortization of below market leases, lessor	9,623			12,445			10,726
Net increase in rental income	$	6,384		$	6,837		$	4,721
Amortization of below market leases, lessee	$	828		$	828		$	781
Amortization of above market leases, lessee	(525		)	(505		)	(290		)
Net increase in rental expense	$	303		$	323		$	491

The following is a summary of the remaining weighted average amortization period for our acquired lease assets and acquired lease liabilities:

	December 31, 2019
Above market leases, lessor	3.7 years
Below market leases, lessee	39.6 years
Below market leases, lessor	18.1 years
Above market leases, lessee	14.4 years

Amortization for acquired in-place leases during the next five years and thereafter

The amortization for acquired in-place leases during the next five years and thereafter, assuming no early lease terminations, is as follows:

	Acquired Lease Assets		Acquired Lease Liabilities
	(In thousands)
Year ending December 31,
2020	$	4,350	$	8,235
2021	3,370		7,687
2022	2,716		7,394
2023	2,488		7,134
2024	2,223		6,603
Thereafter	31,792		81,534
	$	46,939	$	118,587