XML 22 R11.htm IDEA: XBRL DOCUMENT
v3.20.2

LEASE INTANGIBLES | 6 Months Ended
--- | ---
Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract] |
LEASE INTANGIBLES | LEASE INTANGIBLES The following table summarizes the net value of other intangible assets acquired and the accumulated amortization for each class of intangible asset:
| June 30, 2020 |  |  |  |  |  | December 31, 2019 |  |  |  |
| Lease Intangibles |  | Accumulated Amortization |  | Lease Intangibles, net |  | Lease Intangibles |  | Accumulated Amortization |  | Lease Intangibles, net
In-place leases | $ | 3,186,889 |  |  | $ | (2,667,835) |  |  | $ | 519,054 |  |  | $ | 4,360,027 |  |  | $ | (3,283,027) |  |  | $ | 1,077,000 |
Leasing costs | 1,800,922 |  |  | (1,500,149) |  |  | 300,773 |  |  | 2,937,976 |  |  | (2,002,711) |  |  | 935,265 |
Above-market leases | 333,485 |  |  | (266,080) |  |  | 67,405 |  |  | 333,485 |  |  | (240,739) |  |  | 92,746 |
| $ | 5,321,296 |  |  | $ | (4,434,064) |  |  | $ | 887,232 |  |  | $ | 7,631,488 |  |  | $ | (5,526,477) |  |  | $ | 2,105,011 |
As of June 30, 2020 there were no gross lease intangible assets included in real estate assets held for sale. As of December 31, 2019, there was $2.3 million gross lease intangible assets included in real estate assets held for sale, with $1.4 million of accumulated amortization related to the lease intangible assets netted against real estate assets held for sale. The net value of acquired intangible liabilities was $226,000 and $310,000 relating to below-market leases as of June 30, 2020 and December 31, 2019, respectively. Future aggregate approximate amortization expense for the Company's lease intangible assets is as follows:
Six months remaining in 2020 | $ | 265,169 |
Years ending December 31: |
2021 | 372,484 |
2022 | 202,479 |
2023 | 17,663 |
2024 | 17,663 |
Thereafter | 11,774 |
Total | $ | 887,232 |
The weighted average remaining amortization period of the intangible assets as of June 30, 2020 is 1.7 years.

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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
Name: | us-gaap_IntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration