Annual report pursuant to Section 13 and 15(d)

Intangible Assets on Real Estate Acquisitions (Tables)

v3.19.3.a.u2
Intangible Assets on Real Estate Acquisitions (Tables)
 12 Months Ended
Dec. 31, 2019
Intangible Assets on Real Estate Acquisitions  
Schedule of intangible assets on real estate acquisitions

Intangible assets on real estate acquisitions consisted of the following (in thousands):
 
 
December 31, 2019
 
December 31, 2018
 
 
Gross Carrying Amount
 
Accumulated Amortization
 
Net
 Carrying Amount
 
Gross Carrying Amount
 
Accumulated Amortization
 
Net
Carrying Amount
In-place lease value
 
$
131,975

 
$
120,894

 
$
11,081

 
$
132,276

 
$
117,520

 
$
14,756

Tenant relationship value
 
59,131

 
43,544

 
15,587

 
60,028

 
39,703

 
20,325

Above-market leases
 
13,718

 
13,318

 
400

 
13,841

 
13,164

 
677

Below-market cost arrangements (1)
 
—

 
—

 
—

 
8,880

 
1,507

 
7,373

Other
 
1,333

 
1,009

 
324

 
1,333

 
994

 
339

 
 
$
206,157

 
$
178,765

 
$
27,392

 
$
216,358

 
$
172,888

 
$
43,470



(1)
These assets pertain to ground leases. Upon our adoption of lease accounting guidance effective January 1, 2019, the net carrying amount was reclassified to property operating lease right-of-use assets associated with these leases.