TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES

As of June 30, 2015 and December 31, 2014, the Company’s tenant origination and absorption costs, above-market lease assets and below-market lease liabilities (excluding fully amortized assets and liabilities and accumulated amortization) were as follows (in thousands):



	Tenant Origination and Absorption Costs						Above-Market Lease Assets						Below-Market Lease Liabilities
	June 30, 2015			December 31, 2014			June 30, 2015			December 31, 2014			June 30, 2015			December 31, 2014
Cost	$	48,267		$	50,807		$	3,169		$	3,752		$	(6,936	)	$	(7,585	)
Accumulated Amortization	(22,206		)	(19,113		)	(1,639		)	(1,691		)	3,472			3,182
Net Amount	$	26,061		$	31,694		$	1,530		$	2,061		$	(3,464	)	$	(4,403	)

Increases (decreases) in net income as a result of amortization of the Company’s tenant origination and absorption costs, above-market lease assets and below-market lease liabilities for the three and six months ended June 30, 2015 and 2014 were as follows (in thousands):



	Tenant Origination and Absorption Costs						Above-Market Lease Assets						Below-Market Lease Liabilities
	For the Three Months Ended June 30,						For the Three Months Ended June 30,						For the Three Months Ended June 30,
	2015			2014			2015			2014			2015		2014
Amortization	$	(2,716	)	$	(4,028	)	$	(258	)	$	(305	)	$	445	$	624



	Tenant Origination and Absorption Costs						Above-Market Lease Assets						Below-Market Lease Liabilities
	For the Six Months Ended June 30,						For the Six Months Ended June 30,						For the Six Months Ended June 30,
	2015			2014			2015			2014			2015		2014
Amortization	$	(5,639	)	$	(8,396	)	$	(531	)	$	(608	)	$	939	$	1,281

Additionally, as of June 30, 2015 and December 31, 2014, the Company had recorded unamortized tax abatement intangible assets, which are included in prepaid expenses and other assets in the accompanying balance sheets, of $7.7 million and $8.2 million, respectively. During the three and six months ended June 30, 2015, the Company recorded amortization expense of $0.2 million and $0.5 million related to tax abatement intangible assets, respectively. During the three and six months ended June 30, 2014, the Company recorded amortization expense of $0.2 million and $0.5 million related to tax abatement intangible assets, respectively.