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Lease Intangibles
 12 Months Ended
Dec. 31, 2014
Leases [Abstract]  
Leases Intangibles
Lease Intangibles
The following table summarizes the carrying amounts for our acquired real estate leases and assumed real estate lease obligations as of December 31, 2014 and 2013 and (in thousands):
 
 
December 31,
 
December 31, 2013
Properties Held for
Sale
 
 
2014
 
2013
 
Acquired in-place leases
 
$
272,077

 
$
282,754

 
$
9,351

Acquired above market leases
 
121,969

 
127,944

 
2,047

Acquired real estate leases
 
394,046

 
410,698

 
11,398

Accumulated amortization, acquired in-place leases
 
(136,089
)
 
(106,045
)
 
(4,461
)
Accumulated amortization, acquired above market leases
 
(59,670
)
 
(48,841
)
 
—

Acquired real estate leases, net
 
$
198,287

 
$
255,812

 
$
6,937

 
 
 
 
 
 
 
Acquired below market leases
 
56,541

 
56,815

 
4,996

Accumulated amortization
 
(29,757
)
 
(22,880
)
 
(2,926
)
Assumed real estate lease obligations, net
 
$
26,784

 
$
33,935

 
$
2,070


Amortization of the lease intangibles for the years ended December 31, 2014, 2013 and 2012 is as follows (in thousands):
 
 
 
 
December 31,
 
 
Income Statement Location
 
2014
 
2013
 
2012
Amortization of acquired in-place leases
 
Depreciation and amortization
 
$
40,493

 
$
48,023

 
$
46,306

Amortization of acquired in-place leases
 
Discontinued operations
 
—

 
1,720

 
3,909

Amortization of above and below market leases
 
Rental income
 
(10,650
)
 
(10,310
)
 
(10,621
)
Amortization of above and below market leases
 
Discontinued operations
 
—

 
775

 
659



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, 2014 are approximately (in thousands):

2015
 
$
39,533

2016
 
31,702

2017
 
24,151

2018
 
20,066

2019
 
14,765

Thereafter
 
41,286

 
 
$
171,503