XML 78 R15.htm IDEA: XBRL DOCUMENT v2.4.0.6
Intangible Assets
 6 Months Ended
Jun. 30, 2012
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS
INTANGIBLE ASSETS
As of June 30, 2012 and December 31, 2011, the Company’s intangible assets were comprised of the following (in thousands):
 
June 30, 2012
 
Total Cost
 
Accumulated
Amortization
 
Intangible Assets,
net
In-place lease value
$
82,861

 
$
(54,017
)
 
$
28,844

Tenant relationship value
67,414

 
(44,560
)
 
22,854

Above market leases acquired
8,729

 
(2,500
)
 
6,229

Total
$
159,004

 
$
(101,077
)
 
$
57,927

Below market leases acquired
$
74,100

 
$
(42,574
)
 
$
31,526


 
December 31, 2011
 
Total Cost
 
Accumulated
Amortization
 
Intangible Assets,
net
In-place lease value
$
91,426

 
$
(55,498
)
 
$
35,928

Tenant relationship value
72,813

 
(45,114
)
 
27,699

Above market leases acquired
12,744

 
(5,856
)
 
6,888

Total
$
176,983

 
$
(106,468
)
 
$
70,515

Below market leases acquired
$
75,685

 
$
(40,579
)
 
$
35,106


As of June 30, 2012, the Company’s annual amortization for its intangible assets/liabilities were as follows (in thousands, and assuming no early lease terminations):
 
Assets
 
Liabilities
2012 (six months remaining)
$
8,083

 
$
3,321

2013
12,358

 
6,308

2014
9,549

 
4,741

2015
7,159

 
2,597

2016
4,526

 
1,704

Thereafter
16,252

 
12,855

Total
$
57,927

 
$
31,526