• Filing Date: 2019-03-08
  • Form Type: 10-K
  • Description: Annual report
v3.10.0.1
Intangible Assets, net
12 Months Ended
Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets, net
Note 11 — Intangible Assets, net
The Company’s intangible assets, net consist of the following:

 
 
 
December 31,
 
 
 
2018
 
 
2017
 
Anchor tenant relationships
 
$
1,761
 
 
$
1,761
 
In-place leases
 
 
4,215
 
 
 
3,806
 
Total, at cost
 
 
5,976
 
 
 
5,567
 
Less: accumulated amortization
 
 
(1,176
)
 
 
(572
)
Intangible assets, net
 
$
4,800
 
 
$
4,995
 
Recognized with the acquisitions of commercial real estate in 2018 and 2017 as described in 
Real Estate Investments
 in Note 5 — “Investments” were $409 and $636, respectively, of 
in-place
 leases. In connection with the 2016 business acquisitions described in Note 7 — “Business Acquisitions,” the Company recognized $5,199 of intangible assets. For the years ended December 31, 2018, 2017 and 2016, amortization expense associated with intangible assets was $604, $503 and $77, respectively. The remaining weighted-average amortization period as of December 31, 2018 was 15.1 years and 11.8 years for anchor tenant relationships and 
in-place
 leases, respectively, or a combined weighted average of 12.8 years.
Amortization expense for intangible assets after December 31, 2018 is as follows:
 
Year
 
Amount
 
2019
 
$
612
 
2020
 
 
618
 
2021
 
 
513
 
2022
 
 
439
 
2023
 
 
331
 
Thereafter
 
 
2,287
 
Total
 
$
4,800