Intangible Assets and Liabilities (Tables)

9 Months Ended

Sep. 30, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Intangible Assets and Liabilities

As of September 30, 2019 and December 31, 2018, the Company’s intangible assets/liabilities were comprised of the following (in thousands):

	September 30, 2019
	Total Cost		Accumulated Amortization			Intangible Assets, net
Intangible assets, net:
In-place lease value	$	168,881	$	(74,951	)	$	93,930
Tenant relationship value	5,268		(4,728		)	540
Above market leases acquired	4,955		(3,627		)	1,328
Total intangible assets, net	$	179,104	$	(83,306	)	$	95,798
	Total Cost		Accumulated Amortization			Intangible Liabilities, net
Acquired lease intangibles, net:
Below market leases acquired	$	44,876	$	(20,826	)	$	24,050

	December 31, 2018
	Total Cost		Accumulated Amortization			Intangible Assets, net
Intangible assets, net:
In-place lease value	$	181,887	$	(53,376	)	$	128,511
Tenant relationship value	9,564		(8,551		)	1,013
Above market leases acquired	4,966		(3,142		)	1,824
Total intangible assets, net	$	196,417	$	(65,069	)	$	131,348
	Total Cost		Accumulated Amortization			Intangible Liabilities, net
Acquired lease intangibles, net:
Below market leases acquired	$	49,655	$	(17,872	)	$	31,783

Summary of Amortization for Intangible Assets and Liabilities

As of September 30, 2019, the Company’s annual amortization for its intangible assets/liabilities, assuming no prospective early lease terminations, was as follows (dollars in thousands):

	Assets		Liabilities
2019 (three months remaining)	$	10,057	$	1,696
2020	28,185		5,299
2021	18,289		3,890
2022	12,153		2,270
2023	9,236		1,722
Thereafter	17,878		9,173
Total	$	95,798	$	24,050