Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Useful Lives of Depreciable Assets

Depreciation expense is computed using the straight-line method based on the following useful lives: 

	Years
Buildings and Improvements	7 to 50
Land Improvements	3 to 16
Furniture, Fixtures and Equipment	3 to 5
Tenant Improvements	Lease Term

Summary of Deferred Leasing Intangibles

Deferred leasing intangibles, net of accumulated amortization, included in our total assets and total liabilities consist of the following: 

	December 31, 2020		December 31, 2019
In-Place Leases	$	18,253	$	20,188
Above Market Leases	1,948		2,197
Below Market Ground Lease Obligation	1,552		1,597
Tenant Relationships	3,458		4,551
Total Included in Total Assets, Net of $24,781 and $29,541 of Accumulated Amortization	$	25,211	$	28,533
Below Market Leases	$	11,064	$	11,893
Total Included in Total Liabilities, Net of $13,849 and $13,045 of Accumulated Amortization	$	11,064	$	11,893

Future Amortization Expense Related to Deferred Leasing Intangibles

We will recognize net amortization expense related to deferred leasing intangibles over the next five years, for properties owned as of December 31, 2020 as follows: 

	Estimated Amortization of In-Place Leases and Tenant Relationships		Estimated Net Increase to Rental Revenues Related to Above and Below Market Leases
2021	$	4,210	$	1,443
2022	$	3,717	$	1,353
2023	$	3,283	$	1,101
2024	$	2,562	$	1,120
2025	$	1,996	$	1,029