Deferred Leasing Costs and Lease Intangibles, net

12 Months Ended

Dec. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Deferred Leasing Costs and Lease Intangibles, net

The following summarizes our deferred leasing costs and lease intangibles as of:



	December 31, 2015			December 31, 2014
Above-market leases	$	38,481		$	10,891
Accumulated amortization	(17,210		)	(5,743		)
Above-market leases, net	21,271			5,148
Deferred leasing costs and in-place lease intangibles	352,276			130,370
Accumulated amortization	(112,337		)	(39,939		)
Deferred leasing costs and in-place lease intangibles, net	239,939			90,431
Below-market ground leases	59,578			7,513
Accumulated amortization	(2,757		)	(1,069		)
Below-market ground leases, net	56,821			6,444
Deferred leasing costs and lease intangibles assets, net	$	318,031		$	102,023

Below-market leases	140,041			57,420
Accumulated amortization	(45,882		)	(16,451		)
Below-market leases, net	94,159			40,969
Above-market ground leases	1,095			—
Accumulated amortization	(46		)	—
Above-market ground leases, net	1,049			—
Lease intangible liabilities, net	$	95,208		$	40,969

The company recognized the following amortization related to deferred leasing cost and lease intangibles:



	For the Year Ended						Consolidated Financial
	2015		2014		2013		Statement Classification
Above-market lease	12,534		2,026		2,542		Rental Revenue
Below-market lease	(34,607	)	(7,661	)	(8,570	)	Rental Revenue
Deferred lease costs and in-place lease intangibles	91,965		20,879		24,374		Depreciation and amortization expense
Above-market ground lease	(46	)	—		—		Office operating expenses
Below-market ground lease	1,688		248		247		Office operating expenses

As of December 31, 2015, the estimated aggregate amortization of deferred leasing costs and lease intangible assets, net for each of the next five years and thereafter are as follows:



Year ended	Above-market leases		Deferred lease cost and in-place lease intangibles		Below-market ground leases
2016	$	11,242	$	76,208	$	2,182
2017	3,700		49,994		2,182
2018	3,030		30,275		2,182
2019	2,515		23,355		2,182
2020	386		13,099		2,182
Thereafter	398		47,008		45,911
	$	21,271	$	239,939	$	56,821

As of December 31, 2015 the estimated amortization of below-market leases, net for each of the next five years and thereafter are as follows:



Year ended	Below-market lease		Above-market ground leases
2016	$	30,319	$	43
2017	21,663		43
2018	13,669		43
2019	10,778		43
2020	7,450		43
Thereafter	10,280		834
	$	94,159	$	1,049