OTHER INTANGIBLE ASSETS

9 Months Ended

Sep. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

5. OTHER INTANGIBLE ASSETS

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


	Assets						Liabilities
September 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	(13)		(8,911)		—		1,638
	$	24	$	3,224	$	2,957	$	(730)
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

Amortization of the acquired above-market leases is recorded as a reduction to rental and other property income, and amortization of the acquired in-place leases is included in depreciation and amortization in the accompanying consolidated statements of operations. Amortization of the acquired below-market leases is recorded as an increase to rental and other property income in the accompanying consolidated statements of operations.

For the three and nine months ended September 30, 2020 and 2019, we recognized amortization related to our intangible assets and liabilities as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
	(in thousands)
Acquired above-market lease amortization	$	1	$	17	$	8	$	59
Acquired in-place lease amortization	$	303	$	495	$	1,047	$	1,636
Acquired below-market lease amortization	$	150	$	376	$	552	$	1,310

A schedule of future amortization and accretion of acquired intangible assets and liabilities as of September 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 (Three months ending December 31, 2020)	$	1	$	302	$	(149)
2021	5		899		(347)
2022	5		663		(234)
2023	6		375		—
2024	6		375		—
Thereafter	1		610		—
	$	24	$	3,224	$	(730)