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Intangibles | 3 Months Ended
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Mar. 31, 2020
Intangibles |
Intangibles | Intangibles Intangible assets primarily consist of lease-up intangibles and above market tenant lease intangibles. The following table summarizes the Company’s intangible lease assets (in thousands):
Intangible lease assets |  | March 31, 2020 |  | December 31, 2019
Gross intangible lease assets |  | $ | 887,516 |  |  | $ | 615,538 |
Accumulated depreciation and amortization |  | (337,168 | ) |  | (283,845 | )
Intangible assets, net |  | $ | 550,348 |  |  | $ | 331,693 |
Intangible liabilities primarily consist of below market lease intangibles. The following table summarizes the Company’s intangible lease liabilities (in thousands):
Intangible lease liabilities |  | March 31, 2020 |  | December 31, 2019
Gross intangible lease liabilities |  | $ | 113,213 |  |  | $ | 113,213 |
Accumulated depreciation and amortization |  | (41,076 | ) |  | (38,222 | )
Intangible liabilities, net |  | $ | 72,137 |  |  | $ | 74,991 |
During the three months ended March 31, 2020, including intangible assets that were recognized in conjunction with consolidating 13 CCRCs in which the Company acquired Brookdale’s interest as part of the 2019 Brookdale MTCA (see Note 3), the Company acquired intangible assets of $273 million, with a weighted average amortization period of 6 years. No intangible liabilities were acquired during the three months ended March 31, 2020. On January 1, 2019, in conjunction with the adoption of ASU 2016-12 (see Note 2), the Company reclassified $39 million of intangible assets, net and $6 million of intangible liabilities, net related to above and below market ground leases to right-of-use asset, net.

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