Acquired Lease Intangibles (Tables)

12 Months Ended

Dec. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Net Accumulated Amortization and Accretion

The Company had the following acquired lease intangibles:

	December 31,
(in thousands)	2018			2017
In-place leases	$	457,379		470,315
Above-market leases	57,294			64,625
Below-market ground leases	92,085			92,166
Total intangible assets	$	606,758		627,106
Accumulated amortization	(219,689		)	(148,280	)
Acquired lease intangible assets, net	$	387,069		478,826
Below-market leases	$	584,371		588,850
Above-market ground leases	5,101			5,101
Total intangible liabilities	589,472			593,951
Accumulated amortization	(92,746		)	(56,550	)
Acquired lease intangible liabilities, net	$	496,726		537,401

The following table provides a summary of amortization and net accretion amounts from acquired lease intangibles:

	Year ended December 31,				Line item in Consolidated Statements of Operations
(in thousands)	2018		2017	2016
In-place lease amortization	$	76,649	88,284	11,533	Depreciation and amortization
Above-market lease amortization	10,433		9,443	1,742	Minimum rent
Below-market ground lease amortization	1,688		1,886	1,111	Operating and maintenance
Acquired lease intangible asset amortization	$	88,770	99,613	14,386
Below-market lease amortization	$	45,561	34,786	6,827	Minimum rent
Above-market ground lease amortization	94		136	167	Operating and maintenance
Acquired lease intangible liability amortization	$	45,655	34,922	6,994

Schedule of Future Amortization Expense and Minimum Rent

The estimated aggregate amortization and net accretion amounts from acquired lease intangibles for the next five years are as follows:

(in thousands)
In Process Year Ending December 31,	Net accretion of Above / Below market lease intangibles		Amortization of In-place lease intangibles	Net amortization of Below / Above ground lease intangibles
2019	$	27,768	53,506	1,554
2020	26,646		40,528	1,554
2021	25,986		32,344	1,554
2022	24,239		24,692	1,554
2023	23,499		19,605	1,554