XML 59 R20.htm IDEA: XBRL DOCUMENT v3.2.0.727
Lease Intangibles (Tables)
6 Months Ended
Jun. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Lease Intangibles and Value of Assumed Lease Obligations

Lease intangibles and the value of assumed lease obligations as of June 30, 2015 and December 31, 2014 were comprised as follows (in thousands):

 

June 30, 2015

   Above
Market
Leases
    In Place
Leases
    Leasing
Commissions
    Total     Below
Market
Leases
    Below
Market
Ground
Lease
    Total  

Cost

   $ 4,868        35,418        14,025        54,311        (1,456     (138     (1,594

Accumulated amortization

     (2,388     (13,630     (4,710     (20,728     379        22        401   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
   $ 2,480        21,788        9,315        33,583        (1,077     (116     (1,193
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

December 31, 2014

   Above
Market
Leases
    In Place
Leases
    Leasing
Commissions
    Total     Below
Market
Leases
    Below
Market
Ground
Lease
    Total  

Cost

   $ 4,762        28,505        12,926        46,193           (746     (138        (884

Accumulated amortization

     (1,985     (11,159     (3,658     (16,802     258        20        278   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
   $ 2,777        17,346        9,268        29,391        (488     (118     (606
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

Estimated Aggregate Amortization Expense for Lease Intangibles

The estimated aggregate amortization expense for lease intangibles for the five succeeding years and in the aggregate are as follows (in thousands):

 

2015

   $ 4,678   

2016

     8,855   

2017

     6,217   

2018

     3,742   

2019

     3,377   

Thereafter

     5,521   
  

 

 

 
   $ 32,390