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LEASE INTANGIBLES (Tables)

6 Months Ended

Jun. 30, 2020

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, 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

Amortization Expense for the Company Lease Intangible Assets

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

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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://fasb.org/us-gaap/role/ref/legacyRef
-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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Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 2
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