Acquired Intangibles Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [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 (in thousands):

		December 31, 2020						December 31, 2019
	Useful Lives	Gross Carrying Value		Accumulated Amortization		Net Carrying Value		Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Customer Relationships	12 years	$	95,705	$	(44,361)	$	51,344	$	95,705	$	(36,411)	$	59,294
In-Place Leases	0.5 to 10 years	34,813		(26,812)		8,001		34,588		(22,522)		12,066
Solar Power Agreement (1)	17 years	13,747		(5,256)		8,491		13,747		(4,448)		9,299
Acquired Favorable Leases
Acquired above market leases - as Lessor	0.5 to 8 years	5,070		(4,816)		254		5,035		(4,015)		1,020
Total Intangible Assets		$	149,335	$	(81,245)	$	68,090	$	149,075	$	(67,396)	$	81,679
Solar Power Agreement (1)	17 years	13,747		(5,256)		8,491		13,747		(4,448)		9,299
Acquired Unfavorable Leases
Acquired below market leases - as Lessor	2 to 4 years	1,117		(1,113)		4		1,092		(967)		125
Acquired above market leases - as Lessee	11 to 12 years	2,453		(1,199)		1,254		2,453		(983)		1,470
Total Intangible Liabilities (2)		$	17,317	$	(7,568)	$	9,749	$	17,292	$	(6,398)	$	10,894

(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 statements 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 Decrease		Net Rental Expense Decrease
2021	$	164	$	(216)
2022	55		(216)
2023	25		(216)
2024	6		(216)
2025	—		(216)
Thereafter	—		(174)
Total	$	250	$	(1,254)

Schedule of estimated amortization of all other identified intangible assets

Year Ending December 31,
2021	$	10,634
2022	10,088
2023	10,084
2024	8,967
2025	7,978
Thereafter	11,594
Total	$	59,345