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OTHER INTANGIBLE ASSETS
 9 Months Ended
Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
OTHER INTANGIBLE ASSETS
OTHER INTANGIBLE ASSETS
A schedule of our intangible assets and liabilities and related accumulated amortization and accretion as of September 30, 2019 and December 31, 2018 is as follows:
 
 
Assets
 
Liabilities
September 30, 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
 
(38
)
 
(8,906
)
 
—

 
1,959

 
 
$
36

 
$
4,747

 
$
2,957

 
$
(1,562
)
Average useful life (in years)
 
5

 
8

 
Indefinite

 
4

 
 
Assets
 
Liabilities
December 31, 2018
 
Acquired
Above-Market
Leases
 
Acquired
In-Place
Leases
 
Trade Name and License
 
Acquired
Below-Market
Leases
 
 
(in thousands)
Gross balance
 
$
146

 
$
16,210

 
$
2,957

 
$
(6,618
)
Accumulated amortization
 
(51
)
 
(9,731
)
 
—

 
3,746

 
 
$
95

 
$
6,479

 
$
2,957

 
$
(2,872
)
Average useful life (in years)
 
3

 
8

 
Indefinite

 
4

The amortization of the acquired above-market leases, which decreased rental and other property income, was $17,000 and $14,000 for the three months ended September 30, 2019 and 2018, respectively, and $59,000 and $40,000 for the nine months ended September 30, 2019 and 2018, respectively. The amortization of the acquired in-place leases included in depreciation and amortization expense was $495,000 and $927,000 for the three months ended September 30, 2019 and 2018, respectively, and $1,636,000 and $2,769,000 for the nine months ended September 30, 2019 and 2018, respectively. The amortization of the acquired below-market leases included in rental and other property income was $376,000 and $478,000 for the three months ended September 30, 2019 and 2018, respectively, and $1,310,000 and $1,711,000 for the nine months ended September 30, 2019 and 2018, respectively.







A schedule of future amortization and accretion of acquisition related intangible assets and liabilities as of September 30, 2019, is as follows:
 
 
Assets
 
Liabilities
Years Ending December 31,
 
Acquired
Above-Market
Leases
 
Acquired
In-Place
Leases
 
Acquired
Below-Market
Leases
 
 
(in thousands)
2019 (Three months ending December 31, 2019)
 
$
4

 
$
476

 
$
(280
)
2020
 
9

 
1,349

 
(701
)
2021
 
5

 
899

 
(347
)
2022
 
5

 
663

 
(234
)
2023
 
6

 
375

 
—

Thereafter
 
7

 
985

 
—

 
 
$
36

 
$
4,747

 
$
(1,562
)