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Intangibles
 6 Months Ended
Jun. 30, 2020
Intangibles [Abstract]  
Intangibles Intangibles
Intangible assets primarily consist of lease-up intangibles and above market tenant lease intangibles. The following table summarizes the Company’s intangible lease assets (in thousands):
Intangible lease assets
 
June 30,
2020
 
December 31,
2019
Gross intangible lease assets
 
$
788,731

 
$
615,538

Accumulated depreciation and amortization
 
(251,176
)
 
(283,845
)
Intangible assets, net
 
$
537,555

 
$
331,693


Intangible liabilities primarily consist of below market lease intangibles. The following table summarizes the Company’s intangible lease liabilities (in thousands):
Intangible lease liabilities
 
June 30,
2020
 
December 31,
2019
Gross intangible lease liabilities
 
$
154,378

 
$
113,213

Accumulated depreciation and amortization
 
(43,646
)
 
(38,222
)
Intangible liabilities, net
 
$
110,732

 
$
74,991


During the six months ended June 30, 2020, in conjunction with the Company’s acquisitions of real estate (including the consolidation of 13 CCRCs in which the Company acquired Brookdale’s interest as part of the 2019 Brookdale MTCA - see Note 3), the Company acquired intangible assets of $295 million and intangible liabilities of $42 million. The intangible assets and liabilities acquired have a weighted average amortization period of 7 years and 10 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.