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Intangible Assets and Liabilities (Tables)
9 Months Ended
Sep. 30, 2018
Goodwill And Intangible Assets Disclosure [Abstract]  
Summary of Intangible Assets and Liabilities

The following table summarizes our intangible assets (acquired above-market leases and acquired in-place leases) and intangible liabilities (acquired below-market leases) and the related amortization as of the dates and for the periods set forth below.

 

 

As of

 

(Amounts in thousands)

September 30, 2018

 

 

December 31, 2017

 

Intangible assets:

 

 

 

 

 

 

 

Gross amount

$

518,207

 

 

$

553,063

 

Accumulated amortization

 

(230,985

)

 

 

(200,857

)

 

$

287,222

 

 

$

352,206

 

Intangible liabilities:

 

 

 

 

 

 

 

Gross amount

$

186,550

 

 

$

205,101

 

Accumulated amortization

 

(84,271

)

 

 

(75,073

)

 

$

102,279

 

 

$

130,028

 

 

 

For the Three Months Ended

 

 

For the Nine Months Ended

 

 

September 30,

 

 

September 30,

 

(Amounts in thousands)

2018

 

 

2017

 

 

2018

 

 

2017

 

Amortization of above and below-market leases, net

   (component of “rental income”)

$

3,887

 

 

$

3,175

 

 

$

12,611

 

 

$

14,164

 

Amortization of acquired in-place leases

   (component of “depreciation and amortization”)

$

14,865

 

 

$

17,929

 

 

$

44,879

 

 

$

58,352

 

 

Schedule of Estimated Annual Amortization of Acquired Below-Market Leases, Net of Acquired Above-Market Leases and In Place Leases

 

The table below sets forth annual amortization of acquired above and below-market leases, net and amortization of acquired in-place leases for each of the five succeeding years commencing from January 1, 2019.

  

(Amounts in thousands)

For the Year Ending December 31,

 

Above and

Below-Market

Leases, Net

 

 

In-Place Leases

 

2019

 

$

11,851

 

 

$

49,378

 

2020

 

 

6,654

 

 

 

38,738

 

2021

 

 

3,361

 

 

 

28,150

 

2022

 

 

892

 

 

 

23,598

 

2023

 

 

4,407

 

 

 

18,917