OTHER INTANGIBLE ASSETS

6 Months Ended

Jun. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

A schedule of our intangible assets and liabilities and related accumulated amortization and accretion as of June 30, 2020 and December 31, 2019 is as follows:


	Assets								Liabilities
June 30, 2020	Acquired Above-Market Leases		Acquired In-Place Leases		Trade Name and License		Acquired Below-Market Leases
	(in thousands)
Gross balance	$	37	$	12,135	$	2,957	$	(2,368)
Accumulated amortization	(12)		(8,608)		—		1,488
	$	25	$	3,527	$	2,957	$	(880)
Average useful life (in years)	7		9		Indefinite		4


	Assets								Liabilities
December 31, 2019	Acquired Above-Market Leases		Acquired In-Place Leases		Trade Name and License		Acquired Below-Market Leases
	(in thousands)
Gross balance	$	74	$	13,653	$	2,957	$	(3,521)
Accumulated amortization	(42)		(9,382)		—		2,239
	$	32	$	4,271	$	2,957	$	(1,282)
Average useful life (in years)	5		8		Indefinite		4

The amortization of the acquired above-market leases, which decreased rental and other property income, was $1,000 and $21,000 for the three months ended June 30, 2020 and 2019, respectively, and $7,000 and $42,000 for the six months ended June 30, 2020 and 2019, respectively. The amortization of the acquired in-place leases included in depreciation and amortization expense was $303,000 and $540,000 for the three months ended June 30, 2020 and 2019, respectively, and $744,000 and $1,141,000 for the six months ended June 30, 2020 and 2019, respectively. The amortization of the acquired below-market leases included in rental and other property income was $148,000 and $421,000 for the three months ended June 30, 2020 and 2019, respectively, and $402,000 and $934,000 for the six months ended June 30, 2020 and 2019, respectively.

A schedule of future amortization and accretion of acquisition related intangible assets and liabilities as of June 30, 2020, is as follows:


	Assets						Liabilities
Years Ending December 31,	Acquired Above-Market Leases		Acquired In-Place Leases		Acquired Below-Market Leases
	(in thousands)
2020 (Six months ending December 31, 2020)	$	2	$	605	$	(299)
2021	5		899		(347)
2022	5		663		(234)
2023	6		375		—
2024	6		375		—
Thereafter	1		610		—
	$	25	$	3,527	$	(880)