Lease Intangibles

3 Months Ended

Mar. 31, 2019

Goodwill And Intangible Assets Disclosure [Abstract]

5. LEASE INTANGIBLES

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

	March 31, 2019							December 31, 2018
	Lease Intangibles		Accumulated Amortization			Lease Intangibles, net		Lease Intangibles		Accumulated Amortization			Lease Intangibles, net
In-place leases	$	4,958,477	$	(3,590,585	)	$	1,367,892	$	4,958,477	$	(3,467,781	)	$	1,490,696
Leasing costs		3,628,080		(2,496,491	)		1,131,589		3,628,080		(2,405,514	)		1,222,566
Above-market leases		439,878		(309,121	)		130,757		439,878		(291,666	)		148,212
	$	9,026,435	$	(6,396,197	)	$	2,630,238	$	9,026,435	$	(6,164,961	)	$	2,861,474

As of March 31, 2019 and December 31, 2018, $953,062 and $1,000,618, of net lease intangible assets were included in real estate assets held for sale, respectively.

The net value of acquired intangible liabilities was $448,328 and $495,927 relating to below-market leases as of March 31, 2019 and December 31, 2018, respectively.

Future aggregate approximate amortization expense for the Company's lease intangible assets is as follows:

Nine months remaining in 2019	$	645,431
Years ending December 31:
2020		687,974
2021		488,320
2022		378,394
2023		173,785
Thereafter		256,334
Total	$	2,630,238

The weighted average remaining amortization period of the intangible assets as of March 31, 2019 is 3.4 years.