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Acquired Intangibles Assets and Liabilities (Tables)
9 Months Ended
Sep. 30, 2019
Acquired Intangible Assets and Liabilities [Abstract]  
Schedule of carrying values for the major classes of intangible assets and liabilities Summarized below are the carrying values for the major classes of intangible assets and liabilities (unaudited and in thousands):

September 30, 2019

December 31, 2018

Gross

Gross

Carrying

Accumulated

Net Carrying

Carrying

Accumulated

Net Carrying

    

Useful Lives

    

Value

    

Amortization

    

Value

    

Value

    

Amortization

    

Value

Customer Relationships

12 years

$

95,705

$

(34,424)

$

61,281

$

95,705

$

(28,461)

$

67,244

In-Place Leases

0.3 to 10 years

34,518

(21,272)

13,246

32,066

(17,670)

14,396

Solar Power Agreement (1)

17 years

13,747

(4,246)

9,501

13,747

(3,639)

10,108

Platform Intangible

3 years

9,600

(9,600)

Acquired Favorable Leases

Acquired below market leases - as Lessee

46 years

2,301

2,301

Acquired above market leases - as Lessor

0.5 to 8 years

5,024

(3,810)

1,214

4,649

(3,247)

1,402

Tradenames

3 years

3,100

(3,100)

Total Intangible Assets

$

148,994

$

(63,752)

$

85,242

$

161,168

$

(65,717)

$

95,451

Solar Power Agreement (1)

17 years

13,747

(4,246)

9,501

13,747

(3,639)

10,108

Acquired Unfavorable Leases

Acquired below market leases - as Lessor

1 to 4 years

1,084

(885)

199

809

(611)

198

Acquired above market leases - as Lessee

11 to 12 years

2,453

(929)

1,524

2,453

(767)

1,686

Total Intangible Liabilities (2)

$

17,284

$

(6,060)

$

11,224

$

17,009

$

(5,017)

$

11,992

(1)Amortization related to the Solar Power Agreement asset and liability is recorded at the same rate and therefore has no net impact on the statement of operations.
(2)Intangible liabilities are included within the “Advance rents, security deposits and other liabilities” line item of the consolidated balance sheets.
Schedule of estimated amortization of acquired favorable and unfavorable leases

Net Rental Revenue

Net Rental Expense

Decrease

Increase/(Decrease)

2019 (October - December)

$

125

$

(56)

2020

659

(216)

2021

151

(216)

2022

51

(216)

2023

24

(216)

Thereafter

5

(604)

Total

$

1,015

$

(1,524)

Schedule of estimated amortization of all other identified intangible assets

2019 (October - December)

$

3,214

2020

12,080

2021

10,580

2022

10,069

2023

10,065

Thereafter

28,519

Total

$

74,527