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Acquisition of Real Estate | 9 Months Ended
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Sep. 30, 2015
Real Estate [Abstract] |
Acquisition of Real Estate | Acquisition of Real Estate During the nine months ended September 30, 2015, the Company acquired the following properties, in separate transactions (dollars in thousands):
|  |  |  | Purchase Price
Property Name | Location | Month Acquired |  | Cash |  | Debt Assumed |  | Total |  | GLA
Retail Building at Bardin Place Center | Arlington, TX | Jun-15 |  | $ | 9,258 |  |  | $ | — |  |  | $ | 9,258 |  |  | 96,127 |
Larchmont Centre | Mt. Laurel, NJ | Jun-15 |  | 11,000 |  |  | 7,000 |  |  | 18,000 |  |  | 103,787 |
Webster Square Shopping Center | Marshfield, MA | Jun-15 |  | 31,950 |  |  | — |  |  | 31,950 |  |  | 182,756 |
|  |  |  | $ | 52,208 |  |  | $ | 7,000 |  |  | $ | 59,208 |  |  | 382,670 |
The purchase price for these acquisitions has been allocated to real estate and related intangible assets acquired and liabilities assumed, as applicable, in accordance with our accounting policies for business combinations. The aggregate purchase price of the properties acquired during the nine months ended September 30, 2015, has been allocated as follows:
Assets |
|  | Land | $ | 13,004 |
|  | Buildings | 35,606 |
|  | Building Improvements | 4,671 |
|  | Tenant Improvements | 2,335 |
|  | Above Market Rents | 95 |
|  | In-Place Leases | 4,101 |
| Real estate, net | 59,812 |
| Deferred charges and prepaid expenses, net | 1,792 |
Total assets | $ | 61,604 |
Liabilities |
|  | Mortgage payable | $ | 7,000 |
|  | Mortgage Fair Value Adjustment | 440 |
| Debt obligations, net | 7,440 |
| Accounts payable, accrued expenses and other liabilities (Below Market Leases) | 1,956 |
Total liabilities | 9,396 |
Net Assets Acquired | $ | 52,208 |
In addition the Company acquired the following land parcels adjacent to existing Company owned shopping centers in connection with its repositioning activities at those centers: (i) during the three months ended September 30, 2015, two land parcels for an aggregate purchase price of $6.5 million; (ii) during the nine months ended September 30, 2015, four land parcels for an aggregate purchase price of $8.6 million; and (iii) during the nine months ended September 30, 2014, three land parcels for an aggregate purchase price of $12.3 million. The real estate operations acquired were not considered material to the Company, individually or in the aggregate, and therefore pro forma financial information is not necessary. During the nine months ended September 30, 2015 the Company incurred acquisition related expenses of $1.6 million. These amounts are included in Other on the unaudited Condensed Consolidated Statements of Operations.

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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1497-128463 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1490-128463 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1392-128463 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 30 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e7008-128479 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1486-128463 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e6927-128479 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=56956791&loc=d3e4845-128472 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1500-128463 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1524-128463 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 30 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e7000-128479 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=56956791&loc=d3e4922-128472 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=56956791&loc=d3e4934-128472 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=56956791&loc=d3e4926-128472 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1383-128463 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e6996-128479 + Details
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