5. OTHER INTANGIBLE ASSETS

A schedule of our intangible assets and liabilities and related accumulated amortization and accretion as of June 30, 2015 and December 31, 2014 is as follows:

	Assets															Liabilities
June 30, 2015	Acquired Above-Market Leases			Acquired In-Place Leases			Tax Abatement			Franchise Affiliation Fee			Acquired Below-Market Ground Lease			Acquired Below-Market Leases
	(in thousands)
Gross balance	$	1,072		$	21,431		$	4,273		$	3,936		$	11,685		$	(19,750	)
Accumulated amortization		(867	)		(16,269	)		(2,047	)		(3,179	)		(1,352	)		12,403

	$	205		$	5,162		$	2,226		$	757		$	10,333		$	(7,347	)


Average useful life (in years)		6			8			8			10			84			8

	Assets															Liabilities
December 31, 2014	Acquired Above-Market Leases			Acquired In-Place Leases			Tax Abatement			Franchise Affiliation Fee			Acquired Below-Market Ground Lease			Acquired Below-Market Leases
	(in thousands)
Gross balance	$	2,402		$	22,680		$	4,273		$	3,936		$	11,685		$	(20,333	)
Accumulated amortization		(2,039	)		(16,470	)		(1,771	)		(2,981	)		(1,282	)		11,676

	$	363		$	6,210		$	2,502		$	955		$	10,403		$	(8,657	)


Average useful life (in years)		7			8			8			10			84			8

The amortization of the above-market leases which decreased rental and other property income was $79,000 and $98,000 for the three months ended June 30, 2015 and 2014, respectively, and $158,000 and $435,000 for the six months ended June 30, 2015 and 2014, respectively. The amortization of the below-market leases included in rental and other property income was $655,000 and $697,000 for the three months ended June 30, 2015 and 2014, respectively, and $1,310,000 and $1,345,000 for the six months ended June 30, 2015 and 2014, respectively. The amortization of in-place leases included in depreciation and amortization expense was $519,000 and $587,000 for the three months ended June 30, 2015 and 2014, respectively, and $1,048,000 and $1,199,000 for the six months ended June 30, 2015 and 2014, respectively. Included in depreciation and amortization expense is franchise affiliation fee amortization of $99,000 for each of the three months ended June 30, 2015 and 2014, and $198,000 for each of the six months ended June 30, 2015 and 2014. The amortization of advance bookings included in depreciation and amortization expense was $0 and $67,000 for the three months ended June 30, 2015 and 2014, respectively, and $0 and $134,000 for the six months ended June 30, 2015 and 2014, respectively. Tax abatement amortization of $138,000 for each of the three months ended June 30, 2015 and 2014, and $276,000 for each of the six months ended June 30, 2015 and 2014 is included in rental and other property operating expenses. Amortization of below-market ground lease obligation of $35,000 for each of the three months ended June 30, 2015 and 2014, and $70,000 for each of the six months ended June 30, 2015 and 2014 is included in rental and other property operating expenses.

A schedule of future amortization and accretion of acquisition related intangible assets and liabilities as of June 30, 2015 is as follows:

	Assets										Liabilities
Years Ending December 31,	Acquired Above-Market Leases		Acquired In-Place Leases		Tax Abatement		Franchise Affiliation Fee		Acquired Below-Market Ground Lease		Acquired Below-Market Leases
	(in thousands)
2015 (Six months ending December 31, 2015)	$	83	$	793	$	275	$	196	$	70	$	(1,259	)
2016		88		1,346		551		394		140		(2,502	)
2017		26		915		551		167		140		(2,399	)
2018		8		666		551		—		140		(963	)
2019		—		488		298		—		140		(224	)
Thereafter		—		954		—		—		9,703		—

	$	205	$	5,162	$	2,226	$	757	$	10,333	$	(7,347	)