XML 49 R32.htm IDEA: XBRL DOCUMENT v3.10.0.1
Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary of intangible assets
At December 31, 2018 and 2017, intangible assets included the following (in thousands):
 
 
2018
 
2017
In-place leases, net of accumulated amortization of $125,130 and $91,548 in 2018 and 2017, respectively
 
$
105,964

 
$
139,548

Above-market tenant leases, net of accumulated amortization of $19,502 and $13,038 in 2018 and 2017, respectively
 
20,453

 
26,917

Below-market ground lease, net of accumulated amortization of $621 and $345 in 2018 and 2017, respectively
 
17,792

 
18,067

Goodwill
 
1,674

 
1,674

 
 
$
145,883

 
$
186,206
Aggregate amortization of intangible assets and liabilities
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
 
Below Market Ground Lease
 
Above Market
Rents
 
In Place Leases
 
Total
2019
$
(11,645
)
 
$
(46
)
 
$
276

 
$
5,308

 
$
26,161

 
$
20,054

2020
(10,519
)
 
(46
)
 
276

 
4,433

 
21,230

 
15,374

2021
(8,753
)
 
(46
)
 
276

 
3,374

 
16,366

 
11,217

2022
(6,185
)
 
(46
)
 
276

 
2,292

 
11,309

 
7,646

2023
(4,844
)
 
(46
)
 
276

 
1,710

 
8,843

 
5,939

Thereafter
(13,272
)
 
(1,488
)
 
16,412

 
3,336

 
22,055

 
27,043

 
$
(55,218
)
 
$
(1,718
)
 
$
17,792

 
$
20,453

 
$
105,964

 
$
87,273

Weighted average remaining lease term
6 years

 
37 years

 
65 years

 
6 years

 
6 years

 
10 years