Quarterly report pursuant to Section 13 or 15(d)

Deferred Costs

v3.19.1
Deferred Costs
3 Months Ended
Mar. 31, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Deferred Costs
Deferred Costs
Deferred costs, net of amortization and other assets are as follows (in thousands):
 
March 31, 2019
 
December 31, 2018
 
(unaudited)
 
 
Leases in place, net
$
19,836

 
$
21,785

Tenant relationships, net
3,228

 
3,764

Ground lease sandwich interest, net
2,420

 
2,488

Lease origination costs, net
1,192

 
1,261

Legal and marketing costs, net
54

 
59

Other
1,273

 
716

    Total deferred costs and other assets, net
$
28,003

 
$
30,073


As of March 31, 2019 and December 31, 2018, the Company’s intangible accumulated amortization totaled $52.16 million and $50.55 million, respectively. During the three months ended March 31, 2019 and 2018, the Company’s intangible amortization expense totaled $2.63 million and $4.30 million, respectively. Future amortization of lease origination costs, leases in place, legal and marketing costs, tenant relationships, and ground lease sandwich interests is as follows (in thousands, unaudited):
 
Leases In
Place, net
 
Tenant
Relationships, net
 
Ground Lease Sandwich Interest, net
 
 Lease
Origination
Costs, net
 
Legal &
Marketing
Costs, net
 
Total
For the remaining nine months ending December 31, 2019
$
4,486

 
$
1,040

 
$
205

 
$
169

 
$
9

 
$
5,909

For the years ending:
 
 
 
 
 
 
 
 
 
 
 
December 31, 2020
4,539

 
863

 
274

 
188

 
11

 
5,875

December 31, 2021
2,840

 
451

 
274

 
175

 
9

 
3,749

December 31, 2022
2,172

 
357

 
274

 
134

 
6

 
2,943

December 31, 2023
1,691

 
230

 
274

 
116

 
6

 
2,317

December 31, 2024
1,177

 
130

 
274

 
101

 
3

 
1,685

Thereafter
2,931

 
157

 
845

 
309

 
10

 
4,252

 
$
19,836

 
$
3,228

 
$
2,420

 
$
1,192

 
$
54

 
$
26,730