Lease Intangibles (Tables)

12 Months Ended

Dec. 31, 2014

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, 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

Schedule of Amortization of Lease Intangibles

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

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, 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