Intangible Assets

6 Months Ended

Jun. 30, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets Disclosure [Text Block]

Intangible Assets

Our intangible assets include ground leases, in-place leases, franchise fees and other intangible assets from acquisitions. These intangible assets are recorded in “Other assets, net” on the Consolidated Balance Sheets.

The gross carrying amounts, and accumulated amortization are as follows (in thousands):

		June 30, 2017					December 31, 2016
Intangible Asset	Useful Life	Gross Carrying Amount		Accumulated Amortization			Gross Carrying Amount		Accumulated Amortization
Ground leases	8-57 years	$	33,270	$	(1,114	)	$	33,270	$	(600	)
In-place leases	7 years	99,535		(38,663		)	98,235		(31,796		)
Franchise fees and other intangible assets	15 years	1,880		(1,413		)	1,880		(1,155		)
Total		$	134,685	$	(41,190	)	$	133,385	$	(33,551	)

Total amortization expenses related to the intangible assets are as follows (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
Intangible Asset	2017		2016		2017		2016
Ground leases	$	257	$	—	$	514	$	—
In-place leases	3,428		2,165		6,844		4,318
Franchise fees and other intangible assets	129		129		258		258
Total	$	3,814	$	2,294	$	7,616	$	4,576

We anticipate amortization expense for our intangible assets to be as follows for the next five years (in thousands):

	Year
	Remainder of 2017		2018		2019		2020		2021
Estimated expense	$	7,650	$	14,482	$	13,566	$	11,838	$	11,446