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Real Estate Acquired (Tables) | 12 Months Ended
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Dec. 31, 2018
Real Estate [Abstract] |
Allocation of purchase prices to acquired assets and liabilities | The purchase price was allocated to the assets acquired and liabilities assumed based on their fair value as shown in the following table.
(in thousands) | 700 N. Glebe Road |  | Thruway Pad |  | Total
Land | $ | 7,236 |  |  | $ | 2,196 |  |  | $ | 9,432 |
Buildings | — |  |  | 874 |  |  | 874 |
In-place Leases | — |  |  | 93 |  |  | 93 |
Above Market Rent | — |  |  | — |  |  | — |
Below Market Rent | — |  |  | (63 | ) |  | (63 | )
Total Purchase Price | $ | 7,236 |  |  | $ | 3,100 |  |  | $ | 10,336 |
The purchase price was allocated to assets acquired and liabilities assumed based on their relative fair values as shown in the following table.
(in thousands) | Ashbrook Marketplace |  | 7316 Wisconsin Avenue |  | Total
Land | $ | 8,776 |  |  | $ | 38,662 |  |  | $ | 47,438 |
Buildings | — |  |  | 979 |  |  | 979 |
In-place Leases | — |  |  | 886 |  |  | 886 |
Above Market Rent | — |  |  | 168 |  |  | 168 |
Below Market Rent | — |  |  | (21 | ) |  | (21 | )
Total Purchase Price | $ | 8,776 |  |  | $ | 40,674 |  |  | $ | 49,450 |
Amortization of intangible assets and deferred income related to in place leases | As of December 31, 2018, scheduled amortization of intangible assets and deferred income related to in place leases is as follows:
(In thousands) | Lease acquisition costs |  | Above market leases |  | Below market leases
2019 | $ | 1,141 |  |  | $ | 102 |  |  | $ | 1,533 |
2020 | 785 |  |  | 52 |  |  | 1,434 |
2021 | 538 |  |  | 36 |  |  | 1,409 |
2022 | 383 |  |  | 33 |  |  | 1,306 |
2023 | 316 |  |  | 33 |  |  | 1,297 |
Thereafter | 1,197 |  |  | 376 |  |  | 4,731 |
Total | $ | 4,360 |  |  | $ | 632 |  |  | $ | 11,710 |

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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=84161108&loc=d3e4845-128472 + Details
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- Definition Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 + Details
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