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Acquired In-Place Leases and Above/Below Market Leases (Notes)
 12 Months Ended
Dec. 31, 2018
Leases [Abstract]  
ACQUIRED IN-PLACE LEASES AND ABOVE/BELOW MARKET LEASES
ACQUIRED IN-PLACE LEASES AND ABOVE/BELOW MARKET LEASES
The following summarizes our acquired lease intangibles, which are included in other assets and other liabilities and deferred credits (in thousands):
    
 
December 31, 2018
 
December 31, 2017
In-place leases
$
40,884

 
$
54,206

Accumulated amortization
(34,603
)
 
(45,835
)
Above market leases
11,963

 
21,262

Accumulated amortization
(11,445
)
 
(20,084
)
Acquired lease intangible assets, net
$
6,799

 
$
9,549

Below market leases
$
63,172

 
$
67,423

Accumulated accretion
(37,220
)
 
(37,241
)
Acquired lease intangible liabilities, net
$
25,952

 
$
30,182



The value allocated to in-place leases is amortized over the related lease term as depreciation and amortization expense in the statement of income. Above and below market leases are amortized over the related lease term as additional rental income for below market leases or a reduction of rental income for above market leases in the statement of income. Rental income (loss) includes net amortization from acquired above and below market leases of $3.6 million, $3.3 million and $3.5 million in 2018, 2017 and 2016, respectively. The remaining weighted-average amortization period as of December 31, 2018, is 7.8 years, 1.2 years and 5.9 years for in-place leases, above market leases and below market leases, respectively. Below market leases include $14.6 million related to below market renewal options, and the weighted-average period prior to the commencement of the renewal options is 8.5 years.
Increases (decreases) in net income as a result of amortization of our in-place leases, above market leases and below market leases are as follows (in thousands): 
    
 
Year Ended December 31,
  
2018
 
2017
 
2016
Amortization of in-place leases
$
(2,090
)
 
$
(8,769
)
 
$
(4,029
)
Amortization of above market leases
(660
)
 
(934
)
 
(1,248
)
Amortization of below market leases
4,230

 
4,239

 
4,719

Net income (loss)
$
1,480

 
$
(5,464
)
 
$
(558
)

As of December 31, 2018, the amortization for acquired leases during the next five years and thereafter, assuming no early lease terminations, is as follows (in thousands): 
    
 
In-Place
Leases
 
Above Market
Leases
 
Below Market
Leases
Year Ending December 31,
 
 
 
 
 
2019
$
1,620

 
$
339

 
$
3,478

2020
1,053

 
58

 
2,647

2021
719

 
28

 
2,414

2022
632

 
28

 
2,242

2023
539

 
27

 
2,073

Thereafter
1,718

 
38

 
13,098

 
$
6,281

 
$
518

 
$
25,952