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Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2015
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 | 5 to 20
Furniture, Fixtures and Equipment | 4 to 10
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, 2015 |  | December 31, 2014
In-Place Leases | $ | 19,438 |  |  | $ | 16,850 |
Above Market Leases | 2,520 |  |  | 3,425 |
Below Market Ground Lease Obligation | 1,778 |  |  | 1,823 |
Tenant Relationships | 9,590 |  |  | 11,428 |
Total Included in Total Assets, Net of $26,432 and $28,808 of Accumulated Amortization | $ | 33,326 |  |  | $ | 33,526 |
Below Market Leases | $ | 11,841 |  |  | $ | 12,726 |
Total Included in Total Liabilities, Net of $8,911 and $8,735 of Accumulated Amortization | $ | 11,841 |  |  | $ | 12,726 |
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, 2015 as follows:
| Estimated Amortization of In-Place Leases and Tenant Relationships |  | Estimated Net Increase to Rental Revenues Related to Above and Below Market Leases
2016 | $ | 5,922 |  |  | $ | 1,106 |
2017 | $ | 5,263 |  |  | $ | 1,049 |
2018 | $ | 3,652 |  |  | $ | 877 |
2019 | $ | 2,951 |  |  | $ | 836 |
2020 | $ | 2,465 |  |  | $ | 757 |
New Accounting Pronouncement, Early Adoption | During the year ended ended December 31, 2015, the Operating Partnership elected early adoption of ASU 2015-02. The election is a full retrospective adoption approach which requires previously reported periods to be restated. The impact of this adoption on the Operating Partnership's previously reported period is as follows:
|  | Balance Sheet as Previously Filed as of December 31, 2014 |  | Impact of the Adoption of ASU 2015-02 |  | Balance Sheet as Adjusted as of December 31, 2014
Total Assets |  | $ | 2,514,246 |  |  | $ | 78,462 |  |  | $ | 2,592,708 |
Total Liabilities |  | $ | 1,413,736 |  |  | $ | 77,382 |  |  | $ | 1,491,118 |
Total Noncontrolling Interest |  | $ | — |  |  | $ | 1,080 |  |  | $ | 1,080 |
Condensed Balance Sheet | The following table summarizes the assets and liabilities of the Other Real Estate Partnerships included in our consolidated balance sheets:
| December 31, 2015 |  | December 31, 2014
ASSETS |  |  |
Assets: |  |  |
Net Investment in Real Estate | $ | 306,866 |  |  | $ | 278,720 |
Other Assets, Net | 20,478 |  |  | 21,078 |
Total Assets | $ | 327,344 |  |  | $ | 299,798 |
LIABILITIES AND PARTNERS’ CAPITAL |  |  |
Liabilities: |  |  |
Mortgage Loans Payable | $ | 77,445 |  |  | $ | 81,231 |
Other Liabilities, Net | 43,103 |  |  | 10,656 |
Partners’ Capital | 206,796 |  |  | 207,911 |
Total Liabilities and Partners’ Capital | $ | 327,344 |  |  | $ | 299,798 |

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