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Acquisition of Real Estate (Tables)

6 Months Ended

Jun. 30, 2019

Real Estate [Abstract]

Schedule of Business Acquisitions, by Acquisition

During the six months ended June 30, 2019, the Company acquired the following assets, in separate transactions:

Description(1)		Location		Month Acquired		GLA			Aggregate Purchase Price(2)
Land adjacent to Parmer Crossing		Austin, TX		Apr-19		N/A			$	2,197
Centennial Shopping Center		Englewood, CO		Apr-19		113,682			18,011
Plymouth Square Shopping Center(3)		Conshohocken, PA		May-19		235,728			56,909
Leases at Baytown Shopping Center		Baytown, TX		Jun-19		N/A			2,517
						349,410			$	79,634

⁽¹⁾  No debt was assumed related to any of the listed acquisitions.

⁽²⁾  Aggregate purchase price includes $1.2 million of transaction costs.

⁽³⁾  GLA excludes square footage related to the anticipated relocation of the Company's regional office. Total acquired GLA is 288,718 square feet.

During the six months June 30, 2018, the Company acquired the following assets, in separate transactions:

Description(1)		Location		Month Acquired		GLA			Aggregate Purchase Price(2)
Land adjacent to Arborland Center		Ann Arbor, MI		Jun-18		N/A			$	5,554
Outparcel adjacent to Lehigh Shopping Center		Bethlehem, PA		Jun-18		12,739			1,899
						12,739			$	7,453

⁽¹⁾  No debt was assumed related to any of the listed acquisitions.

⁽²⁾  Aggregate purchase price includes $0.1 million of transaction costs.

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The aggregate purchase price of the assets acquired during the six months ended June 30, 2019 and 2018, respectively, has been allocated as follows:

			Six Months Ended June 30,
Assets			2019				2018
	Land		$	25,953			$	5,554
	Buildings		45,781				1,431
	Building and tenant improvements		5,832				238
	Above-market leases(1)		155				—
	In-place leases(2)		6,923				304
Total assets			84,644				7,527
Liabilities
	Below-market leases(3)		5,010				74
	Other liabilities		—				—
Total liabilities			5,010				74
Net assets acquired			$	79,634			$	7,453

⁽¹⁾  The weighted average amortization period at the time of acquisition for above-market leases related to assets acquired during the six months ended June 30, 2019 was 10.4 years.

⁽²⁾  The weighted average amortization period at the time of acquisition for in-place leases related to assets acquired during the six months ended June 30, 2019 and 2018 was 8.8 years and 4.8 years, respectively.

⁽³⁾ 

The weighted average amortization period at the time of acquisition for below-market leases related to assets acquired during the six months ended June 30, 2019 and 2018 was 24.3 years and 4.8 years, respectively.

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- References

No definition available.

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- Definition

Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1486-128463

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

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- Definition

Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=116869197&loc=d3e4845-128472

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