XML 44 R16.htm IDEA: XBRL DOCUMENT
v3.3.1.900

Intangible Assets | 12 Months Ended
--- | ---
Dec. 31, 2015
Goodwill And Intangible Assets Disclosure [Abstract] |
INTANGIBLE ASSETS | 6. INTANGIBLE ASSETS As of December 31, 2015 and 2014, the Company’s intangible assets were comprised of the following (in thousands):
| December 31, 2015 |
| Total Cost |  |  | Accumulated Amortization |  |  | Intangible Assets, net |
Intangible assets, net: |  |  |  |  |  |  |  |  |  |  |
In-place lease value | $ | 161,276 |  |  | $ | (57,063 | ) |  | $ | 104,213 |
Tenant relationship value |  | 20,117 |  |  |  | (15,580 | ) |  |  | 4,537 |
Above market leases acquired |  | 5,333 |  |  |  | (1,879 | ) |  |  | 3,454 |
|  | 186,726 |  |  |  | (74,522 | ) |  |  | 112,204 |
Assets held for sale |  | (2,854 | ) |  |  | 2,273 |  |  |  | (581 | )
Total intangible assets, net | $ | 183,872 |  |  | $ | (72,249 | ) |  | $ | 111,623 |
Acquired lease intangibles, net: |  |  |  |  |  |  |  |  |  |  |
Below market leases acquired | $ | 50,025 |  |  | $ | (24,178 | ) |  | $ | 25,847 |
Assets held for sale |  | (1,069 | ) |  |  | 877 |  |  |  | (192 | )
Total acquired lease intangibles, net | $ | 48,956 |  |  | $ | (23,301 | ) |  | $ | 25,655 |
| December 31, 2014 |
| Total Cost |  |  | Accumulated Amortization |  |  | Intangible Assets, net |
Intangible assets, net: |  |  |  |  |  |  |  |  |  |  |
In-place lease value | $ | 129,411 |  |  | $ | (42,068 | ) |  | $ | 87,343 |
Tenant relationship value |  | 34,172 |  |  |  | (26,344 | ) |  |  | 7,828 |
Above market leases acquired |  | 5,641 |  |  |  | (1,409 | ) |  |  | 4,232 |
Total intangible assets, net | $ | 169,224 |  |  | $ | (69,821 | ) |  | $ | 99,403 |
Acquired lease intangibles, net: |  |  |  |  |  |  |  |  |  |  |
Below market leases acquired | $ | 53,049 |  |  | $ | (27,039 | ) |  | $ | 26,010 |
For the years ended December 31, 2015, 2014, and 2013, the Company wrote-off through the acceleration of amortization approximately $0.5 million, $0.8 million and $1.6 million, respectively, of intangible assets as a result of tenant move-outs prior to the end of the associated lease term. For the years ended December 31 2015, 2014 and 2013, the Company accelerated amortization of a nominal amount of intangible liabilities as a result of tenant move-outs. As of December 31, 2015, the Company’s annual amortization for its intangible assets/liabilities, assuming no early lease terminations, are as follows (in thousands):
| Assets |  |  | Liabilities |
2016 | $ | 36,635 |  |  | $ | 7,595 |
2017 |  | 19,814 |  |  |  | 3,461 |
2018 |  | 12,587 |  |  |  | 2,217 |
2019 |  | 11,288 |  |  |  | 1,885 |
2020 |  | 9,149 |  |  |  | 1,337 |
Thereafter |  | 22,731 |  |  |  | 9,352 |
|  | 112,204 |  |  |  | 25,847 |
Assets held for sale |  | (581 | ) |  |  | (192 | )
Total | $ | 111,623 |  |  | $ | 25,655 |

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 1 -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16265-109275 Reference 2: 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=26713463&loc=d3e16323-109275 Reference 3: 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=26713463&loc=d3e16373-109275 + Details
Name: | us-gaap_IntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration