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Real Estate Investments (Tables) | 9 Months Ended
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Sep. 30, 2023
Real Estate [Line Items] |
Schedule of Business Acquisitions | The following tables detail the other properties acquired for the periods set forth below:
(in thousands) |  | Nine months ended September 30, 2023 |
Date Purchased |  | Property Name |  | City/State |  | Property Type |  | Regency Ownership |  | Purchase Price (1) |  |  | Debt Assumed, Net of Discounts (1) |  |  | Intangible Assets (1) |  |  | Intangible Liabilities (1) |
Consolidated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
5/1/2023 |  | Sienna Phase 1 |  | Houston, TX |  | Development |  | 75% |  | $ | 2,695 |  |  |  | — |  |  |  | — |  |  |  | — |
5/18/2023 |  | SunVet |  | Holbrook, NY |  | Development |  | 99% |  |  | 24,140 |  |  |  | — |  |  |  | — |  |  |  | — |
Total consolidated |  |  |  |  |  |  |  | $ | 26,835 |  |  |  | — |  |  |  | — |  |  |  | — |
Unconsolidated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
9/19/2023 |  | Old Town Square |  | Chicago, IL |  | Operating |  | 20% |  |  | 27,510 |  |  |  | — |  |  |  | 3,625 |  |  |  | 503 |
Total unconsolidated |  |  |  |  |  |  |  | $ | 27,510 |  |  |  | — |  |  |  | 3,625 |  |  |  | 503 |
Total property acquisitions |  |  |  |  |  |  |  | $ | 54,345 |  |  |  | — |  |  |  | 3,625 |  |  |  | 503 |
(in thousands) |  | Nine months ended September 30, 2022 |
Date Purchased |  | Property Name |  | City/State |  | Property Type |  | Regency Ownership |  | Purchase Price (1) |  |  | Debt Assumed, Net of Discounts (1) |  |  | Intangible Assets (1) |  |  | Intangible Liabilities (1) |
Consolidated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
3/1/2022 |  | Glenwood Green |  | Old Bridge, NJ |  | Development |  | 70% |  | $ | 11,000 |  |  |  | — |  |  |  | — |  |  |  | — |
3/31/2022 |  | Island Village |  | Bainbridge Island, WA |  | Operating |  | 100% |  |  | 30,650 |  |  |  | — |  |  |  | 2,900 |  |  |  | 6,839 |
4/1/2022 |  | Apple Valley (2) |  | Apple Valley, MN |  | Operating |  | 100% |  |  | 34,070 |  |  |  | — |  |  |  | 4,773 |  |  |  | 490 |
4/1/2022 |  | Cedar Commons (2) |  | Minneapolis, MN |  | Operating |  | 100% |  |  | 29,330 |  |  |  | — |  |  |  | 4,369 |  |  |  | 58 |
4/1/2022 |  | Corral Hollow (2) |  | Tracy, CA |  | Operating |  | 100% |  |  | 40,600 |  |  |  | — |  |  |  | 3,410 |  |  |  | 74 |
4/1/2022 |  | Shops at the Columbia (2) |  | Washington, DC |  | Operating |  | 100% |  |  | 14,000 |  |  |  | — |  |  |  | 889 |  |  |  | 181 |
5/6/2022 |  | Baederwood Shoppes |  | Jenkintown, PA |  | Operating |  | 80% |  |  | 51,603 |  |  |  | 22,779 |  |  |  | 5,796 |  |  |  | 1,062 |
Total consolidated |  |  |  |  |  |  |  | $ | 211,253 |  |  |  | 22,779 |  |  |  | 22,137 |  |  |  | 8,704 |
Unconsolidated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
3/25/2022 |  | Naperville Plaza |  | Naperville, IL |  | Operating |  | 20% |  |  | 52,380 |  |  |  | 22,074 |  |  |  | 4,336 |  |  |  | 814 |
6/24/2022 |  | Baybrook East 1B |  | Houston, TX |  | Development |  | 50% |  |  | 5,540 |  |  |  | — |  |  |  | — |  |  |  | — |
Total unconsolidated |  |  |  |  |  |  |  | $ | 57,920 |  |  |  | 22,074 |  |  |  | 4,336 |  |  |  | 814 |
Total property acquisitions |  |  |  |  |  |  |  | $ | 269,173 |  |  |  | 44,853 |  |  |  | 26,473 |  |  |  | 9,518 |
(1) Amounts for purchase price and allocation are reflected at 100%. (2) These properties were part of the four property portfolio purchased from an existing unconsolidated real partnership, RegCal, LLC, in which the Company held a 25% ownership interest. The basis allocated to Real estate assets was $93.2 million on a combined basis, including the Company's carry over basis related to its 25% previously owned equity investment in the partnership.
UBP Acquisition [Member] |
Real Estate [Line Items] |
Components of Purchase Price | the following table provides the components that make up the total purchase price for the UBP acquisition:
(in thousands, except stock price) |  | Purchase Price |
Shares of common stock issued for acquisition |  |  | 13,568 |
Closing stock price on August 17, 2023 |  | $ | 61.03 |
Value of common stock issued for acquisition |  | $ | 828,025 |
Other adjustments |  |  | (9,495 | )
Total value of common stock issued |  | $ | 818,530 |
Debt repaid |  |  | 39,266 |
Preferred stock issuance |  |  | 225,000 |
Transaction costs |  |  | 57,197 |
Other cash payments |  |  | 68 |
Total purchase price |  | $ | 1,140,061 |
Schedule of Total Purchase Price Including Transaction Costs Capitalized and Allocated | The total purchase price, including direct transaction costs capitalized, was allocated as follows:
(in thousands) |  | Purchase Price Allocation |
Real estate assets |  | $ | 1,379,835 |
Investments in unconsolidated real estate partnerships |  |  | 35,942 |
Real estate assets |  |  | 1,415,777 |
Cash, accounts receivable and other assets |  |  | 51,902 |
Lease intangible assets |  |  | 128,663 |
Total assets acquired |  |  | 1,596,342 |
Notes payable |  |  | 284,706 |
Accounts payable, accrued expenses, and other liabilities |  |  | 37,500 |
Lease intangible liabilities |  |  | 69,583 |
Total liabilities assumed |  |  | 391,789 |
Non-controlling interest |  |  | 64,492 |
Total purchase price |  | $ | 1,140,061 |
Schedule of Weighted Average Amortization Period of Intangible Assets and Liabilities | The following table details the weighted average amortization and net accretion periods, in years, of the major classes of intangible assets and intangible liabilities arising from the UBP acquisition:
(in years) |  | Weighted Average Amortization Period |
Assets: |  |  |
In-place leases |  |  | 8.0 |
Above-market leases |  |  | 7.0 |
Liabilities: |  |  |
Below-market leases |  |  | 18.5 |

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