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Intangibles
 6 Months Ended
Jun. 30, 2019
Intangibles  
Intangibles Intangibles
Intangible assets primarily consist of lease-up intangibles and above market tenant lease intangibles. Intangible liabilities primarily consist of below market lease intangibles. The following tables summarize the Company’s intangible lease assets and liabilities (in thousands):
Intangible lease assets
 
June 30,
2019
 
December 31,
2018
Gross intangible lease assets
 
$
555,150

 
$
556,114

Accumulated depreciation and amortization
 
(237,190
)
 
(251,035
)
Intangible assets, net
 
$
317,960

 
$
305,079


Intangible lease liabilities
 
June 30,
2019
 
December 31,
2018
Gross intangible lease liabilities
 
$
88,892

 
$
94,444

Accumulated depreciation and amortization
 
(35,121
)
 
(39,781
)
Intangible liabilities, net
 
$
53,771

 
$
54,663


During the six months ended June 30, 2019, in conjunction with the Company’s acquisitions of real estate (see Note 3), the Company acquired intangible assets of $86 million and intangible liabilities of $8 million. The intangible assets and intangible liabilities acquired have a weighted average amortization period of 2 years and 5 years, respectively.
On January 1, 2019, in conjunction with the adoption of ASU 2016-12 (see Note 2), the Company reclassified $39 million of intangible assets, net and $6 million of intangible liabilities, net related to above and below market ground leases to right-of-use asset, net.