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Intangibles | 6 Months Ended
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Jun. 30, 2020
Intangibles [Abstract] |
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 |  | June 30, 2020 |  | December 31, 2019
Gross intangible lease assets |  | $ | 788,731 |  |  | $ | 615,538 |
Accumulated depreciation and amortization |  | (251,176 | ) |  | (283,845 | )
Intangible assets, net |  | $ | 537,555 |  |  | $ | 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 |  | June 30, 2020 |  | December 31, 2019
Gross intangible lease liabilities |  | $ | 154,378 |  |  | $ | 113,213 |
Accumulated depreciation and amortization |  | (43,646 | ) |  | (38,222 | )
Intangible liabilities, net |  | $ | 110,732 |  |  | $ | 74,991 |
During the six months ended June 30, 2020, in conjunction with the Company’s acquisitions of real estate (including the consolidation of 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 $295 million and intangible liabilities of $42 million. The intangible assets and liabilities acquired have a weighted average amortization period of 7 years and 10 years, respectively. 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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