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Intangible Asset, Net—Related Party
 12 Months Ended
Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Asset, Net—Related Party INTANGIBLE ASSET, NET—RELATED PARTY
In connection with the Company’s acquisition of the Management Company (see Note 3), the Company acquired an intangible asset related to the contract value of the incentive compensation provisions of the Management Company’s development management agreement with the Great Park Venture. The carrying amount and accumulated amortization of the intangible asset as of December 31, 2017 and 2016 were as follows (in thousands):
 
2017
 
2016
Gross carrying amount
$
129,705

 
$
129,705

Accumulated amortization
(2,112
)
 
(2,112
)
Net book value
$
127,593

 
$
127,593



No amortization expense was recorded for the year ended December 31, 2017, as the Company did not recognize any economic benefits from incentive compensation. For the year ended December 31, 2016, the Company recorded $2.1 million of amortization expense, included in cost of management services in the accompanying consolidated statement of operations, attributed to a portion of the Legacy Incentive Compensation recognized in the period.