Annual report pursuant to Section 13 and 15(d)

Intangible Assets on Real Estate Acquisitions

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Intangible Assets on Real Estate Acquisitions
 12 Months Ended
Dec. 31, 2020
Intangible Assets on Real Estate Acquisitions  
Intangible Assets on Real Estate Acquisitions Intangible Assets on Real Estate Acquisitions
Intangible assets on real estate acquisitions consisted of the following (in thousands):
December 31, 2020 December 31, 2019
Gross Carrying Amount Accumulated Amortization Net
Carrying Amount		 Gross Carrying Amount Accumulated Amortization Net
Carrying Amount
In-place lease value $ 131,974  $ 123,291  $ 8,683  $ 131,975  $ 120,894  $ 11,081 
Tenant relationship value 59,069  49,055  10,014  59,131  43,544  15,587 
Above-market leases 13,718  13,380  338  13,718  13,318  400 
Other 1,333  1,024  309  1,333  1,009  324 
$ 206,094  $ 186,750  $ 19,344  $ 206,157  $ 178,765  $ 27,392 
Amortization of intangible assets on real estate acquisitions totaled $8.0 million in 2020, $8.7 million in 2019 and $15.6 million in 2018. The approximate weighted average amortization periods of the categories set forth above follow: in-place lease value: six years; tenant relationship value: eight years; above-market leases: eight years; and other: 22 years. The approximate weighted average amortization period for all of the categories combined is seven years. The estimated amortization (to amortization associated with real estate operations, rental revenue and property operating expenses) associated with the intangible asset categories set forth above for the next five years is: $4.7 million for 2021; $3.2 million for 2022; $2.8 million for 2023; $2.3 million for 2024; and $2.0 million for 2025.