Intangible Assets and Liabilities

3 Months Ended

Mar. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS AND LIABILITIES

INTANGIBLE ASSETS AND LIABILITIES

As of March 31, 2015 and December 31, 2014, the Company’s intangible assets/liabilities were comprised of the following (in thousands):

	March 31, 2015
	Total Cost		Accumulated Amortization			Intangible assets/liabilities, net
Intangible assets, net:
In-place lease value	$	126,573	$	(43,942	)	$	82,631
Tenant relationship value	31,390		(24,777		)	6,613
Above market leases acquired	5,641		(1,616		)	4,025
Total intangible assets, net	$	163,604	$	(70,335	)	$	93,269
Acquired lease intangibles, net:
Below market leases acquired	$	52,414	$	(27,901	)	$	24,513

	December 31, 2014
	Total Cost		Accumulated Amortization			Intangible assets/liabilities, net
Intangible assets, net:
In-place lease value	$	129,411	$	(42,068	)	$	87,343
Tenant relationship value	34,172		(26,344		)	7,828
Above market leases acquired	5,641		(1,409		)	4,232
Total intangible assets, net	$	169,224	$	(69,821	)	$	99,403
Acquired lease intangibles, net:
Below market leases acquired	$	53,049	$	(27,039	)	$	26,010

As of March 31, 2015, the Company’s annual amortization for its intangible assets/liabilities were as follows (in thousands, and assuming no prospective early lease terminations):

	Assets		Liabilities
2015 (nine months remaining)	$	15,681	$	3,822
2016	16,800		3,230
2017	15,030		2,641
2018	11,303		2,217
2019	9,990		1,885
Thereafter	24,465		10,718
Total	$	93,269	$	24,513