Intangible Assets

3 Months Ended

Mar. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets Disclosure [Text Block]

Intangible Assets

Our intangible assets include in-place leases, franchise agreements and other intangible assets. These intangible assets are recorded in Other assets, net on the Consolidated Balance Sheets. In accordance with ASC 842, below market leases are now classified as a right of use asset.

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

		March 31, 2019					December 31, 2018
Intangible Asset	Useful Life	Gross Carrying Amount		Accumulated Amortization			Gross Carrying Amount		Accumulated Amortization
In-place leases	7 years	117,544		(62,740		)	103,547		(59,068		)
Franchise agreements and other intangible assets	7-20 years	16,944		(2,146		)	16,641		(1,942		)
Total		$	134,488	$	(64,886	)	$	120,188	$	(61,010	)

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

	Three Months Ended March 31,
Intangible Asset	2019		2018
In-place leases	3,672		3,490
Franchise agreements and other intangible assets	205		19
Total	$	3,877	$	3,509

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

	Year
	Remainder of 2019		2020		2021		2022		2023
Estimated expense	$	11,850	$	14,144	$	13,752	$	9,151	$	5,776