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Intangible Assets on Real Estate Acquisitions | 9 Months Ended
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Sep. 30, 2012
Intangible Assets on Real Estate Acquisitions |
Intangible Assets on Real Estate Acquisitions | Intangible Assets on Real Estate Acquisitions Intangible assets on real estate acquisitions consisted of the following (in thousands):
|  | September 30, 2012 |  | December 31, 2011
|  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
In-place lease value |  | $ | 134,964 |  |  | $ | 89,808 |  |  | $ | 45,156 |  |  | $ | 151,361 |  |  | $ | 97,594 |  |  | $ | 53,767 |
Tenant relationship value |  | 46,827 |  |  | 22,192 |  |  | 24,635 |  |  | 45,940 |  |  | 23,246 |  |  | 22,694 |
Above-market cost arrangements |  | 12,416 |  |  | 3,789 |  |  | 8,627 |  |  | 12,416 |  |  | 2,857 |  |  | 9,559 |
Above-market leases |  | 8,925 |  |  | 7,278 |  |  | 1,647 |  |  | 10,118 |  |  | 8,037 |  |  | 2,081 |
Market concentration premium |  | 1,333 |  |  | 339 |  |  | 994 |  |  | 1,333 |  |  | 314 |  |  | 1,019 |
|  | $ | 204,465 |  |  | $ | 123,406 |  |  | $ | 81,059 |  |  | $ | 221,168 |  |  | $ | 132,048 |  |  | $ | 89,120 |
Amortization of the intangible asset categories set forth above totaled $16.2 million in the nine months ended September 30, 2012 and $20.7 million in the nine months ended September 30, 2011. The approximate weighted average amortization periods of the categories set forth above follow: in-place lease value: seven years; tenant relationship value: eight years; above-market cost arrangements: 27 years; above-market leases: four years; and market concentration premium: 30 years. The approximate weighted average amortization period for all of the categories combined is ten years. Estimated amortization expense associated with the intangible asset categories set forth above for the next five years is: $4.3 million for the three months ending December 31, 2012; $14.3 million for 2013; $12.3 million for 2014; $10.6 million for 2015; $9.5 million for 2016; and $7.1 million for 2017.

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6905858&loc=d3e16373-109275 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 142 -Paragraph 44, 45, 46 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6905858&loc=d3e16323-109275 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6905858&loc=d3e16265-109275 + Details
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