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v3.25.2

REAL ESTATE PROPERTIES (Details) $ in Thousands | 3 Months Ended | 6 Months Ended |
--- | --- | --- | ---
Jun. 30, 2025 USD ($) | Jun. 30, 2024 USD ($) | Jun. 30, 2025 USD ($) Integer | Jun. 30, 2024 USD ($) | Dec. 31, 2024 USD ($)
Real Estate Properties [Line Items] |  |  |  |  |  |
Number of Reporting Units | Integer |  |  |  | 1 |  |
Depreciation Expense |  | $ 43,093 | $ 37,646 | $ 85,401 | $ 74,851 |
Real Estate Properties |  |  |  |  |  |
Land |  | 905,877 |  | 905,877 |  | $ 888,140
Building and building improvements |  | 3,951,399 |  | 3,951,399 |  | 3,815,850
Tenant and other improvements |  | 801,009 |  | 801,009 |  | 761,061
Right of use assets - Ground leases (operating) | [1] | 36,666 |  | 36,666 |  | 38,393
Development and value-add properties | [2] | 678,013 |  | 678,013 |  | 674,472
Real estate, development and value-add properties |  | 6,372,964 |  | 6,372,964 |  | 6,177,916
Less accumulated depreciation |  | (1,498,548) |  | (1,498,548) |  | (1,415,576)
Real estate, net |  | $ 4,874,416 |  | $ 4,874,416 |  | $ 4,762,340
Building [Member] |  |  |  |  |  |
Real Estate Properties [Line Items] |  |  |  |  |  |
Property, Plant and Equipment, Useful Life |  | 40 years |  | 40 years |  |
Minimum [Member] | Building and Building Improvements |  |  |  |  |  |
Real Estate Properties [Line Items] |  |  |  |  |  |
Property, Plant and Equipment, Useful Life |  | 3 years |  | 3 years |  |
Maximum [Member] | Building and Building Improvements |  |  |  |  |  |
Real Estate Properties [Line Items] |  |  |  |  |  |
Property, Plant and Equipment, Useful Life |  | 15 years |  | 15 years |  |
[1] | EastGroup applies the principles of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 842, Leases, and its related Accounting Standards Updates (“ASUs”) to account for its ground leases, which are classified as operating leases. The related operating lease liabilities for ground leases are included in Other liabilities on the Consolidated Balance Sheets.
[2] | Value-add properties are defined in Note 6.

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