v3.20.2

Intangible Assets And Liabilities | 6 Months Ended
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Jun. 30, 2020
Goodwill And Intangible Assets Disclosure [Abstract] |
Intangible Assets and Liabilities | 8. Intangible Assets and Liabilities The following is a summary of intangible assets and liabilities and related accumulated amortization:
(in thousands) |  | June 30, 2020 |  |  | December 31, 2019 |
Lease intangibles: |  |  |  |  |  |  |  |
Acquired above-market leases |  | $ | 55,242 |  |  | $ | 62,136 |
Less accumulated amortization |  |  | (17,981 | ) |  |  | (17,433 | )
Acquired above-market leases, net |  |  | 37,261 |  |  |  | 44,703 |
Acquired in-place leases |  |  | 334,590 |  |  |  | 349,645 |
Less accumulated amortization |  |  | (73,110 | ) |  |  | (62,454 | )
Acquired in-place leases, net |  |  | 261,480 |  |  |  | 287,191 |
Total intangible lease assets, net |  | $ | 298,741 |  |  | $ | 331,894 |
Acquired below-market leases |  | $ | 107,645 |  |  | $ | 113,862 |
Less accumulated amortization |  |  | (24,488 | ) |  |  | (21,640 | )
Intangible lease liabilities, net |  | $ | 83,157 |  |  | $ | 92,222 |
Leasing fees |  | $ | 15,796 |  |  | $ | 17,013 |
Less accumulated amortization |  |  | (4,428 | ) |  |  | (4,166 | )
Leasing fees, net |  | $ | 11,368 |  |  | $ | 12,847 |
Amortization of intangible lease assets and liabilities was as follows:
(in thousands) |  |  |  | For the three months ended June 30, |  |  | For the six months ended June 30, |
Intangible |  | Financial Statement Presentation |  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Acquired in-place leases and leasing fees |  | Depreciation and amortization |  | $ | 16,339 |  |  | $ | 5,755 |  |  | $ | 24,034 |  |  | $ | 11,312 |
Above-market and below-market leases |  | Lease revenues, net |  |  | (1,016 | ) |  |  | 720 |  |  |  | 124 |  |  |  | 1,460 |
Estimated future amortization of intangible assets and liabilities at June 30, 2020 is as follows:
(in thousands) |  |  |  |
Remainder of 2020 |  | $ | 11,480 |
2021 |  |  | 22,648 |
2022 |  |  | 22,100 |
2023 |  |  | 21,773 |
2024 |  |  | 21,007 |
Thereafter |  |  | 127,944 |
|  | $ | 226,952 |

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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