Deferred Costs and Intangible Assets

Deferred costs and intangible assets consist of the following:

	March 31, 2017			December 31, 2016
	(Unaudited)
Deferred costs	$	266		$	266
Above-market leases		480			480
Lease origination costs		3,092			3,092
In-place lease		7,347			7,347
Real estate tax abatements		12,571			12,571
Total deferred costs and intangible assets		23,756			23,756
Less accumulated amortization		(10,438	)		(9,803	)
Total deferred costs and intangible assets, net	$	13,318		$	13,953

Amortization of lease origination costs and in-place lease intangible assets was

$230

and

$217

for the

three

months ended

March

31,

2017

and

2016,

respectively. Amortization of real estate abatements of

$392

and

$338

for the

three

months ended

March

31,

2017

and

2016,

respectively, is included in real estate taxes and insurance in the consolidated statements of operations. Amortization of above-market leases of

$13

for the

three

months ended

March

31,

2017,

is included in commercial income in the consolidated statements of operations.

Deferred costs and intangible assets as of

March

31,

2017

amortize in future years as follows: