Intangible Assets, Liabilities, and Deferred Leasing Costs

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets, Liabilities, and Deferred Leasing Costs

The following table summarizes the Company’s identified intangible assets, liabilities, and deferred leasing costs as of December 31, 2019 and 2018:



	As of December 31,
	2019			2018
Intangible assets:
In-place leases	$	158,002		$	156,004
Above-market leases	16,625			22,353
Intangible assets	174,627			178,357
Accumulated amortization:
In-place leases	(51,471		)	(58,203		)
Above-market leases	(6,796		)	(12,149		)
Accumulated amortization	(58,267		)	(70,352		)
Intangible assets, net	$	116,360		$	108,005

Intangible liabilities:
Below-market leases	$	69,161		$	74,312
Accumulated amortization	(26,519		)	(27,327		)
Intangible liabilities, net	$	42,642		$	46,985

Deferred leasing costs:
Leasing costs	$	14,806		$	18,236
Accumulated amortization	(3,896		)	(8,018		)
Deferred leasing costs, net	$	10,910		$	10,218

The following table provides a summary of the amortization related to intangible assets, liabilities, and deferred leasing costs for the years ended December 31, 2019, 2018 and 2017:



	Year ended December 31,
	2019		2018		2017
Intangible assets:
In-place leases	$	24,601	$	22,523	$	22,580
Above-market leases	2,613		3,036		3,053
Amortization of intangible assets	$	27,214	$	25,559	$	25,633
Intangible liabilities:
Amortization of below-market leases	$	8,736	$	8,570	$	8,563
Deferred leasing costs:
Amortization of deferred leasing costs	$	2,311	$	2,036	$	1,806

The following table provides a summary of the amortization during the next five years and thereafter related to deferred costs and intangible assets and liabilities as of December 31, 2019:



Year ending December 31,	In-place leases		Above market leases		Deferred leasing costs		Below market leases
2020	$	20,164	$	2,124	$	3,212	$	7,572
2021	16,923		1,786		1,667		6,314
2022	12,919		1,265		1,493		4,839
2023	10,952		1,046		1,187		3,792
2024	9,542		824		820		3,095
Thereafter	36,031		2,784		2,531		17,030
Total	$	106,531	$	9,829	$	10,910	$	42,642