XML 35 R11.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Deferred Costs Deferred Costs
12 Months Ended
Dec. 31, 2019
Deferred Costs [Abstract]  
Deferred Costs
5. Deferred Costs
Deferred costs, net of amortization and other assets are as follows (in thousands):
 
December 31,
 
2019
 
2018
Leases in place, net
$
14,968

 
$
21,785

Tenant relationships, net
2,173

 
3,764

Ground lease sandwich interest, net
2,215

 
2,488

Lease origination costs, net
1,038

 
1,261

Legal and marketing costs, net
43

 
59

Other
588

 
716

    Total deferred costs and other assets, net
$
21,025

 
$
30,073


As of December 31, 2019 and 2018, the Company’s intangible accumulated amortization totaled $57.15 million and $50.55 million, respectively. During the years ended December 31, 2019 and 2018, the Company’s intangible amortization expense totaled $9.30 million and $14.43 million, respectively. Amortization expense for the year ended December 31, 2018 includes $1.38 million of accelerated amortization on intangibles related to the SEG early lease termination at Ladson Crossing, South Park, St. Matthews and Tampa Festival. Future amortization of lease origination costs, leases in place, legal and marketing costs, tenant relationships and ground lease sandwich interest is as follows (in thousands):
For the Years Ended December 31,
Leases In
Place, net
 
Tenant
Relationships, net
 
Ground Lease Sandwich Interest, net
 
 Lease
Origination
Costs, net
 
Legal &
Marketing
Costs, net
 
Total
2020
$
4,325

 
$
860

 
$
274

 
$
65

 
$
9

 
$
5,533

2021
2,788

 
448

 
274

 
172

 
9

 
3,691

2022
2,141

 
354

 
274

 
130

 
6

 
2,905

2023
1,661

 
227

 
274

 
112

 
6

 
2,280

2024
1,147

 
128

 
274

 
98

 
3

 
1,650

Thereafter
2,906

 
156

 
845

 
461

 
10

 
4,378

 
$
14,968

 
$
2,173

 
$
2,215

 
$
1,038

 
$
43

 
$
20,437