5. OTHER INTANGIBLE ASSETS

A schedule of our intangible assets and liabilities and related accumulated amortization and accretion as of March 31, 2016 and December 31, 2015 is as follows:

	Assets												Liabilities
March 31, 2016	Acquired Above-Market Leases			Acquired In-Place Leases			Tax Abatement			Acquired Below-Market Ground Lease			Acquired Below-Market Leases
	(in thousands)
Gross balance	$	966		$	21,398		$	4,273		$	11,685		$	(19,722	)
Accumulated amortization		(881	)		(17,323	)		(2,460	)		(1,457	)		14,267

	$	85		$	4,075		$	1,813		$	10,228		$	(5,455	)


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

	Assets															Liabilities
December 31, 2015	Acquired Above-Market Leases			Acquired In-Place Leases			Tax Abatement			Franchise Affiliation Fee(1)			Acquired Below-Market Ground Lease			Acquired Below-Market Leases
	(in thousands)
Gross balance	$	966		$	21,398		$	4,273		$	3,936		$	11,685		$	(19,722	)
Accumulated amortization		(843	)		(16,943	)		(2,322	)		(3,375	)		(1,422	)		13,636

	$	123		$	4,455		$	1,951		$	561		$	10,263		$	(6,086	)


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


(1)	Franchise affiliation fee is associated with the Courtyard Oakland, which was sold in February 2016 (see Note 3).

The amortization of the above-market leases which decreased rental and other property income was $38,000 and $79,000 for the three months ended March 31, 2016 and 2015, respectively. The amortization of the below-market leases included in rental and other property income was $631,000 and $655,000 for the three months ended March 31, 2016 and 2015, respectively. The amortization of in-place leases included in depreciation and amortization expense was $380,000 and $529,000 for the three months ended March 31, 2016 and 2015, respectively. Included in depreciation and amortization expense is franchise affiliation fee amortization of $33,000 and $99,000 for the three months ended March 31, 2016 and 2015, respectively. Tax abatement amortization of $138,000 for each of the three months ended March 31, 2016 and 2015, and the amortization of below-market ground lease obligation of $35,000 for each of the three months ended March 31, 2016 and 2015 are included in rental and other property operating expenses.

A schedule of future amortization and accretion of acquisition related intangible assets and liabilities as of March 31, 2016 is as follows:

	Assets								Liabilities
Years Ending December 31,	Acquired Above-Market Leases		Acquired In-Place Leases		Tax Abatement		Acquired Below-Market Ground Lease		Acquired Below-Market Leases
	(in thousands)
2016 (Nine months ending December 31, 2016)	$	50		1,014	$	413	$	105	$	(1,879	)
2017		26		964		551		140		(2,405	)
2018		9		705		551		140		(971	)
2019		—		436		298		140		(200	)
2020		—		178		—		140		—
Thereafter		—		778		—		9,563		—

	$	85	$	4,075	$	1,813	$	10,228	$	(5,455	)