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IDENTIFIED INTANGIBLE ASSETS AND LIABILITIES | 12 Months Ended
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Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract] |
IDENTIFIED INTANGIBLE ASSETS AND LIABILITIES | IDENTIFIED INTANGIBLE ASSETS AND LIABILITIES The following table summarizes our identified intangible assets and liabilities:
(Amounts in thousands) | December 31, 2018 |  | December 31, 2017
In-place leases | $ | 75,454 |  |  | $ | 88,355 |
Accumulated amortization | (24,713 | ) |  | (21,557 | )
Below-market ground leases(1) | 23,730 |  |  | 23,730 |
Accumulated amortization | (11,791 | ) |  | (10,819 | )
Above-market leases | 7,129 |  |  | 7,356 |
Accumulated amortization | (2,565 | ) |  | (1,228 | )
Other intangible assets | 1,635 |  |  | 1,635 |
Accumulated amortization | (457 | ) |  | (223 | )
Identified intangible assets, net of accumulated amortization | 68,422 |  |  | 87,249 |
Below-market leases | 209,316 |  |  | 246,791 |
Accumulated amortization | (65,058 | ) |  | (65,832 | )
Identified intangible liabilities, net of accumulated amortization | $ | 144,258 |  |  | $ | 180,959 |
(1) Intangible assets related to below-market leases where the Company is a lessee under a ground lease. Amortization of acquired below-market leases, net of acquired above-market leases resulted in additional rental income of $34.0 million, $9.5 million, and $7.8 million for the years ended December 31, 2018, 2017 and 2016, respectively. Amortization of acquired in-place leases and customer relationships resulted in additional depreciation and amortization expense of $15.1 million, $9.3 million, $2.0 million for the years ended December 31, 2018, 2017 and 2016, respectively. Certain shopping centers are subject to ground leases or ground and building leases. Amortization of these acquired below-market leases resulted in additional rent expense of $1.0 million for each of the years ended December 31, 2018, 2017 and 2016, respectively. The following table sets forth the estimated annual amortization expense related to intangible assets and liabilities for the five succeeding years commencing January 1, 2019:
(Amounts in thousands) |  | Below-Market |  | Above-Market |  |  |  | Below-Market
Year |  | Operating Lease Income |  | Operating Lease Expense |  | In-Place Leases |  | Ground Leases
2019 |  | $ | 10,005 |  |  | $ | 1,289 |  |  | $ | 7,431 |  |  | $ | 972 |
2020 |  | 9,837 |  |  | 1,014 |  |  | 6,194 |  |  | 972 |
2021 |  | 9,699 |  |  | 807 |  |  | 4,982 |  |  | 622 |
2022 |  | 9,622 |  |  | 433 |  |  | 4,049 |  |  | 590 |
2023 |  | 9,575 |  |  | 327 |  |  | 3,717 |  |  | 590 |

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