OTHER INTANGIBLE ASSETS

A schedule of our intangible assets and liabilities and related accumulated amortization and accretion as of March 31, 2017 and December 31, 2016 is as follows:



	Assets											Liabilities
March 31, 2017	Acquired In-Place Leases			Tax Abatement			Acquired Below-Market Ground Lease			Trade Name and License		Acquired Below-Market Leases
	(in thousands)
Gross balance	$	11,551		$	4,273		$	11,685		$	2,957	$	(6,719	)
Accumulated amortization	(8,659		)	(3,011		)	(1,597		)	—		5,293
	$	2,892		$	1,262		$	10,088		$	2,957	$	(1,426	)
Average useful life (in years)	10			8			84			Indefinite		8



	Assets														Liabilities
December 31, 2016	Acquired Above-Market Leases (1)			Acquired In-Place Leases			Tax Abatement			Acquired Below-Market Ground Lease			Trade Name and License		Acquired Below-Market Leases (1)
	(in thousands)
Gross balance	$	215		$	11,551		$	4,273		$	11,685		$	2,957	$	(18,893	)
Accumulated amortization	(180		)	(8,443		)	(2,873		)	(1,562		)	—		15,317
	$	35		$	3,108		$	1,400		$	10,123		$	2,957	$	(3,576	)
Average useful life (in years)	8			10			8			84			Indefinite		8

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(1)	Acquired above-market leases and certain acquired below-market leases are associated with an office property in San Francisco, California, which we sold in March 2017 (Note 3).

The amortization of the acquired above-market leases which decreased rental and other property income was $3,000 and $38,000 for the three months ended March 31, 2017 and 2016, respectively. The amortization of the acquired in-place leases included in depreciation and amortization expense was $216,000 and $380,000 for the three months ended March 31, 2017 and 2016, respectively. Included in depreciation and amortization expense was franchise affiliation fee amortization of $0 and $33,000 for the three months ended March 31, 2017 and 2016, respectively. Tax abatement amortization of $138,000 for each of the three months ended March 31, 2017 and 2016 was included in rental and other property operating expenses. The amortization of the acquired below-market ground lease of $35,000 for each of the three months ended March 31, 2017 and 2016 was included in rental and other property operating expenses. The amortization of the acquired below-market leases included in rental and other property income was $419,000 and $631,000 for the three months ended March 31, 2017 and 2016, respectively.

A schedule of future amortization and accretion of acquisition related intangible assets and liabilities as of March 31, 2017, is as follows:



	Assets						Liabilities
Years Ending December 31,	Acquired In-Place Leases		Tax Abatement		Acquired Below-Market Ground Lease		Acquired Below-Market Leases
	(in thousands)
2017 (Nine months ending December 31, 2017)	$	655	$	413	$	105	$	(709	)
2018	733		551		140		(517		)
2019	464		298		140		(200		)
2020	207		—		140		—
2021	207		—		140		—
Thereafter	626		—		9,423		—
	$	2,892	$	1,262	$	10,088	$	(1,426	)