XML 47 R33.htm IDEA: XBRL DOCUMENT v3.10.0.1
Lease Intangibles (Tables)
12 Months Ended
Dec. 31, 2018
Leases [Abstract]  
Summary of the Carrying Amounts for Acquired Real Estate Leases and Assumed Real Estate Lease Obligations
The following table summarizes the carrying amounts for our acquired real estate leases and assumed real estate lease obligations as of December 31, 2018, and 2017, and (in thousands):
 
 
December 31,
 
 
2018
 
2017
Acquired in-place leases
 
$
3,691

 
$
56,853

Acquired above market leases
 

 
21,021

Acquired real estate leases
 
3,691

 
77,874

Accumulated amortization, acquired in-place leases
 
(3,416
)
 
(41,978
)
Accumulated amortization, acquired above market leases
 

 
(12,049
)
Acquired real estate leases, net
 
$
275

 
$
23,847

 
 
 
 
 
Acquired below market leases
 
$
1,570

 
$
6,093

Accumulated amortization
 
(1,453
)
 
(5,092
)
Assumed real estate lease obligations, net
 
$
117

 
$
1,001

Schedule of Amortization of Lease Intangibles
Amortization of the lease intangibles for the years ended December 31, 2018, 2017, and 2016, is as follows (in thousands):
 
 
 
 
December 31,
 
 
Income Statement Location
 
2018
 
2017
 
2016
Amortization of acquired in-place leases
 
Depreciation and amortization
 
$
2,133

 
$
7,220

 
$
14,598

Amortization of above and below market leases
 
Increase (decrease) to rental income
 
(54
)
 
(1,774
)
 
(6,531
)
Schedule of Future Amortization of Net Intangible Lease Assets and Liabilities
Future amortization of net intangible lease assets and liabilities to be recognized by us during the current terms of our leases as of December 31, 2018, are approximately (in thousands):
2019
 
$
158

2020
 

2021
 

2022
 

2023
 

Thereafter
 

 
 
$
158