Intangible Assets

12 Months Ended

Dec. 31, 2019

Intangible Assets Disclosure [Abstract]

Goodwill and 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 FASB ASC Topic 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):

		December 31, 2019					December 31, 2018
Intangible Asset	Useful Life	Gross Carrying Amount		Accumulated Amortization			Gross Carrying Amount		Accumulated Amortization
In-place leases	7 years	$	127,313	$	(73,980	)	$	103,547	$	(59,068	)
Franchise agreements and other intangible assets	7 - 20 years	16,943		(2,760		)	16,641		(1,942		)
Total		$	144,256	$	(76,740	)	$	120,188	$	(61,010	)

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

	Year Ended
Intangible Asset	December 31, 2019		December 31, 2018		December 31, 2017
In-place leases	$	14,912	$	12,913	$	13,812
Franchise fees and other intangible assets	818		507		301
Total	$	15,730	$	13,420	$	14,113

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

	2020		2021		2022		2023		2024
Estimated expense	$	15,522	$	15,130	$	10,529	$	7,154	$	4,791