INTANGIBLE ASSETS

Intangible assets consist of the following (in thousands, except amortization period data):



	September 30, 2016			December 31, 2015			Weighted- Average Amortization Period (in years)
Capitalized product development cost	$	2,275		$	2,243		4
Accumulated amortization	(2,205		)	(2,172		)
Capitalized product development cost, net	70			71

Building photography	17,375			17,677			4
Accumulated amortization	(16,246		)	(15,875		)
Building photography, net	1,129			1,802

Acquired database technology	78,332			77,905			5
Accumulated amortization	(69,870		)	(62,818		)
Acquired database technology, net	8,462			15,087

Acquired customer base	221,385			221,409			10
Accumulated amortization	(145,859		)	(129,782		)
Acquired customer base, net	75,526			91,627

Acquired trade names and other intangible assets	153,736			153,910			13
Accumulated amortization	(31,810		)	(24,179		)
Acquired trade names and other intangible assets, net	121,926			129,731

Intangible assets, net	$	207,113		$	238,318

In February 2015, as a result of the Company's product development efforts, it launched an improved Apartments.com website with a cleaner look, information about actual rental availabilities, rents and other fees, and better search functionality. In conjunction with the launch, the Company ceased using the database technology acquired in the acquisition of Apartments.com. The Company evaluated the acquired database technology for impairment during the first quarter of 2015 and determined that the carrying value of the acquired database technology was impaired as the Company had ceased using the asset. The Company recorded an impairment charge of approximately $1 million in cost of revenues in the condensed consolidated statements of operations within the Company's North America operating segment for the nine months ended September 30, 2015.

In June 2015, following the June 1, 2015 acquisition of Apartment Finder, the Company decided to cease providing certain Apartment Finder services. Additionally, in June 2015, the Company decided to cease development work related to a development project within Apartment Finder. The Company evaluated the acquired customer base and acquired database technology for impairment during the second quarter of 2015 and, based on that evaluation, determined that the customer base and database technology assets associated with the ceased services and development work were impaired as they were not expected to provide any economic benefit to the Company. The Company recorded an impairment charge of approximately $1 million, most of which was recorded in general and administrative expenses in the condensed consolidated statements of operations within the Company's North America operating segment for the nine months ended September 30, 2015.


7.	INTANGIBLE ASSETS — (CONTINUED)

Intangible assets are reviewed for impairment at least annually and more frequently whenever events or changes in circumstances indicate that the carrying value of such assets may not be recoverable. During the first quarter of 2016, the Company determined that the acquired trade names recorded in connection with the LoopNet acquisition on April 30, 2012 should be reclassified from an indefinite-lived intangible asset to a definite-lived intangible asset due to work being performed to integrate the backend systems of LoopNet and CoStar, which may result in a future re-branding effort if aspects of the two services are ultimately combined. The Company estimated the fair value of the LoopNet trade names using the relief from royalty method and concluded that no impairment existed as of March 31, 2016. The Company estimated a useful life of fifteen years for the LoopNet trade names, which are being amortized on a straight-line basis.