Intangible Assets

12 Months Ended

Dec. 31, 2014

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Intangible Assets

ASSETS

At December 31, 2015 and 2014, intangible assets included the following (in thousands):

	2015		2014
In-place leases, net of accumulated amortization of $88,035 and $62,302 in 2015 and 2014, respectively	$	112,937	$	147,360
Above-market tenant leases, net of accumulated amortization of $15,423 and $13,748 in 2015 and 2014, respectively	8,031		12,017
Goodwill	3,647		3,867
	$	124,615	$	163,244

Intangible assets, other than goodwill, mainly relate to the acquisitions in 2015, 2014, and 2013 (see note 3). Aggregate net amortization expense related to intangible assets and liabilities was $23.7 million, $32.7 million, and $16.9 million for the years ended December 31, 2015, 2014, and 2013, respectively. Over the next five years and thereafter, aggregate amortization of these intangible assets and liabilities is anticipated to be as follows (in thousands):

	Below  Market Rents			Above  Market Ground Lease			Above  Market Rents		In Place  Leases		Total
2016	$	(9,020	)	$	(55	)	$	1,843	$	23,510	$	16,278
2017	(8,569		)	(55		)	1,384		19,893		12,653
2018	(7,793		)	(55		)	1,305		16,763		10,220
2019	(7,314		)	(55		)	883		13,644		7,158
2020	(5,427		)	(55		)	734		10,289		5,541
Thereafter	(18,969		)	(2,225		)	1,882		28,838		9,526
	$	(57,092	)	$	(2,500	)	$	8,031	$	112,937	$	61,376
Weighted average remaining lease term	9 years			48 years			7 years		7 years

Goodwill relates entirely to the Company's office assets. As office assets are sold, either by the Company or by joint ventures in which the Company has an interest, goodwill is allocated to the cost of each sale. The following is a summary of goodwill activity for the years ended December 31, 2015 and 2014 (in thousands):

	2015			2014
Beginning Balance	$	3,867		$	4,131
Allocated to property sales	(220		)	(264		)
Ending Balance	$	3,647		$	3,867