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Lease Intangibles (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2017

Dec. 31, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Net Value of Other Intangible Assets

The following table summarizes the net value of other intangible assets acquired and the accumulated amortization for each class of intangible asset:

		June 30, 2017												December 31, 2016
		Lease Intangibles				Accumulated Amortization				Lease Intangibles, net				Lease Intangibles				Accumulated Amortization				Lease Intangibles, net
In-place leases		$	6,635,928			$	(4,150,414	)		$	2,485,514			$	6,872,980			$	(3,840,670	)		$	3,032,310
Leasing costs			4,622,792				(2,709,250	)			1,913,542				4,813,951				(2,517,759	)			2,296,192
Above-market leases			2,124,360				(1,641,992	)			482,368				2,124,360				(1,586,328	)			538,032
		$	13,383,080			$	(8,501,656	)		$	4,881,424			$	13,811,291			$	(7,944,757	)		$	5,866,534

Lease intangibles consist of the following:

		December 31, 2016												December 31, 2015
		Lease Intangibles				Accumulated Amortization				Lease Intangibles, net				Lease Intangibles				Accumulated Amortization				Lease Intangibles, net
In-place leases		$	6,872,980			$	(3,840,670	)		$	3,032,310			$	6,903,882			$	(2,647,002	)		$	4,256,880
Leasing costs			4,813,951				(2,517,759	)			2,296,192				4,816,858				(1,766,578	)			3,050,280
Above-market leases			2,124,360				(1,586,328	)			538,032				2,124,360				(1,415,762	)			708,598
		$	13,811,291			$	(7,944,757	)		$	5,866,534			$	13,845,100			$	(5,829,342	)		$	8,015,758

Amortization Expense for the Company Lease Intangible Assets

Aggregate approximate amortization expense for the Company’s lease intangible assets is as follows:

Six months remaining in 2017		$	749,854
Years ending December 31:
2018			1,320,270
2019			1,066,827
2020			850,757
2021			554,344
Thereafter			339,372
Total		$	4,881,424

Aggregate approximate amortization expense for the Company’s lease intangible assets is as follows:

Years ending December 31:
2017		$	1,652,832
2018			1,380,667
2019			1,127,224
2020			895,185
2021			585,710
Thereafter			224,916
Total		$	5,866,534

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- References

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- Definition

Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-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

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275

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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://www.xbrl.org/2003/role/presentationRef
-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

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