INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Intangible Assets and Liabilities

As of December 31, 2020 and 2019, the Company’s intangible assets were comprised of the following (in thousands):

	December 31, 2020
	Total Cost		Accumulated Amortization		Intangible Assets, net
Intangible assets, net:
In-place lease value	$	91,552	$	(43,400)	$	48,152
Tenant relationship value	2,091		(1,938)		153
Above market leases acquired	530		(265)		265
Total intangible assets, net	$	94,173	$	(45,603)	$	48,570
	Total Cost		Accumulated Amortization		Intangible Liabilities, net
Intangible liabilities, net:
Below market leases acquired	$	31,263	$	(12,815)	$	18,448

	December 31, 2019
	Total Cost		Accumulated Amortization		Intangible Assets, net
Intangible assets, net:
In-place lease value	$	167,357	$	(84,123)	$	83,234
Tenant relationship value	5,268		(4,815)		453
Above market leases acquired	4,956		(3,792)		1,164
Total intangible assets, net	$	177,581	$	(92,730)	$	84,851
	Total Cost		Accumulated Amortization		Intangible Liabilities, net
Intangible liabilities, net:
Below market leases acquired	$	44,757	$	(22,494)	$	22,263

Summary of Amortization for Intangible Assets and Liabilities

As of December 31, 2020, the Company’s annual amortization for its intangible assets/liabilities, assuming no early lease terminations, are as follows (dollars in thousands):

	Assets		Liabilities
2021	$	16,190	$	4,902
2022	10,354		2,723
2023	7,564		1,651
2024	5,214		1,425
2025	4,027		1,148
Thereafter	5,221		6,599
Total	$	48,570	$	18,448