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REAL ESTATE PROPERTY ACQUISITIONS AND ACQUIRED INTANGIBLES (Tables) | 6 Months Ended
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Jun. 30, 2025
Asset Acquisition [Abstract] |
Acquired Assets and Assumed Liabilities, prior year | The following table summarizes the allocation of the total consideration for the acquired assets and assumed liabilities in connection with the acquisitions identified in the table above which were acquired during the year ended December 31, 2024.
ACQUIRED ASSETS AND ASSUMED LIABILITIES IN 2024 |  | Cost
|  | (In thousands)
Land |  | $ | 41,815 |
Buildings and building improvements |  | 312,911 |
Tenant and other improvements |  | 27,049 |
Right of use assets — Ground leases (operating) |  | 21,836 |
Total real estate properties acquired |  | 403,611 |
In-place lease intangibles (1) |  | 27,102 |
Above market lease intangibles (1) |  | 121 |
Below market lease intangibles (2) |  | (18,987) |
Operating lease liabilities — Ground leases (3) |  | (21,836) |
Total assets acquired, net of liabilities assumed |  | $ | 390,011 |
(1)In-place lease intangibles and above market lease intangibles are each included in Other assets, net on the Consolidated Balance Sheets. These costs are amortized over the remaining terms of the associated leases in place at the time of acquisition. (2)Below market lease intangibles are included in Other liabilities on the Consolidated Balance Sheets. These costs are amortized over the remaining terms of the associated leases in place at the time of acquisition. (3)Operating lease liabilities — Ground leases are included in Other liabilities on the Consolidated Balance Sheets. These costs are amortized over the remaining terms of the associated leases in place at the time of acquisition.
Real Estate Properties Acquired, prior year | During 2024, EastGroup acquired the following properties:
REAL ESTATE PROPERTIES ACQUIRED IN 2024 |  | Location |  | Size |  | Date Acquired |  | Cost (1)
|  |  |  | (Square feet) |  |  |  | (In thousands)
Operating properties acquired |  |  |  |  |  |  |  |
Spanish Ridge Industrial Park |  | Las Vegas, NV |  | 231,000 |  |  | 01/23/2024 |  | $ | 54,859 |
147 Exchange |  | Raleigh, NC |  | 274,000 |  |  | 05/03/2024 |  | 52,945 |
Hays Commerce Center 3 & 4 |  | Austin, TX |  | 179,000 |  |  | 08/19/2024 |  | 35,781 |
Riverpoint Industrial Park |  | Atlanta, GA |  | 779,000 |  |  | 11/12/2024 |  | 87,576 |
DFW Global Logistics Centre 5-8 (2) |  | Dallas, TX |  | 492,000 |  |  | 11/21/2024 |  | 75,852 |
Akimel Gateway (2) |  | Phoenix, AZ |  | 519,000 |  |  | 12/26/2024 |  | 82,998 |
Total operating property acquisitions (3)(4) |  |  |  | 2,474,000 |  |  |  |  | $ | 390,011 |
(1)Cost is calculated in accordance with FASB ASC 805, Business Combinations, and represents the sum of the purchase price, closing costs and capitalized acquisition costs. (2)This operating property is located on land subject to a ground lease. The right of use assets for ground leases are included in Real estate properties on the Consolidated Balance Sheets. (3)Operating properties are defined as stabilized real estate properties (land including buildings and improvements) in the Company’s operating portfolio; included in Real estate properties on the Consolidated Balance Sheets. (4)Excludes acquired development land as discussed below.

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