INTANGIBLES (Tables)

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of intangible assets and liabilities

The following table summarizes the Company’s intangible assets and liabilities:

	As of December 31, 2020						As of December 31, 2019
	Gross Asset (Liability)		Accumulated (Amortization)/ Accretion		Net Carrying Amount		Gross Asset (Liability)		Accumulated (Amortization)/ Accretion		Net Carrying Amount
thousands
Intangible Assets:
Indefinite lived intangibles	$	25,028	$	—	$	25,028	$	25,028	$	—	$	25,028
Goodwill	1,307		—		1,307		1,307		—		1,307
Other intangibles	9,251		(2,991)		6,260		10,278		(3,338)		6,940
Tenant leases:
In-place value	63,584		(14,423)		49,161		66,606		(12,135)		54,471
Above-market	1,985		(1,670)		315		2,247		(1,691)		556
Below-market	(4,839)		3,198		(1,641)		(7,008)		4,912		(2,096)
Total indefinite lived intangibles					$	26,335					$	26,335
Total amortizing intangibles					$	54,095					$	59,871

Schedule of future net amortization and accretion expense

Future net amortization and accretion expense is estimated as shown below:

thousands	2021		2022		2023		2024		Thereafter
Net amortization and accretion expense	$	5,287	$	4,901	$	4,481	$	4,485	$	34,941