3.	INTANGIBLE ASSETS

Intangible Assets, Net consists of the following:


	September 30, 2014			December 31, 2013
Finite-Lived Intangible Assets/Contractual Rights	$	1,464,017		$	1,594,128
Accumulated Amortization		(980,178	)		(1,033,380	)

Intangible Assets, Net	$	483,839		$	560,748

Amortization expense associated with Blackstone’s intangible assets was $25.1 million and $76.9 million for the three and nine month periods ended September 30, 2014, respectively, and $24.8 million and $69.3 million for the three and nine month periods ended September 30, 2013, respectively.

Amortization of Intangible Assets held at September 30, 2014 is expected to be $102.2 million, $95.9 million, $85.6 million, $46.5 million and $46.5 million for each of the years ending December 31, 2014, 2015, 2016, 2017 and 2018, respectively. Blackstone’s intangible assets as of September 30, 2014 are expected to amortize over a weighted-average period of 7.0 years.