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ACQUISITIONS | 6 Months Ended
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Jun. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] |
ACQUISITIONS | ACQUISITIONS The Company closed on the following wholly owned and unconsolidated asset acquisitions during the six months ended June 30, 2025 (dollars in thousands):
Date |  | Property Name |  | Ownership Interest |  | Metropolitan Statistical Area (MSA) |  | Property Type |  | Retail Square Footage |  | Acquisition Price
January 15, 2025 |  | Village Commons |  | 100% |  | Miami |  | Multi-tenant retail |  | 170,976 |  |  | $ | 68,400 |
April 28, 2025 |  | Legacy West(1) |  | 52% |  | Dallas/Ft. Worth |  | Multi-tenant retail, office & multifamily |  | 342,011 |  |  | 408,200 |
|  |  |  |  |  |  |  |  |  | 512,987 |  |  | $ | 476,600 |
(1)Legacy West also contains 443,553 square feet of office space and 782 multifamily units. The above acquisitions were funded using a combination of available cash on hand, proceeds from dispositions, and borrowings on the Company’s unsecured revolving line of credit. Substantially all of the purchase price was allocated to investment properties. In March 2025, the Company entered into a joint venture with GIC (the “Legacy West Joint Venture”), and on April 28, 2025, the joint venture acquired Legacy West for a gross purchase price of $785.0 million, including the assumption of $304.0 million of debt with an interest rate of 3.80%. The Company owns 52% of the equity in the Legacy West Joint Venture. The Company’s share of the purchase price is $408.2 million, and the acquisition was initially funded with borrowings of $255.0 million on the Company’s unsecured revolving line of credit. See Note 5 to the accompanying consolidated financial statements for details of the Legacy West Joint Venture with GIC. The Company did not acquire any properties during the six months ended June 30, 2024.

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- Definition The entire disclosure for asset acquisition. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 805 -SubTopic 50 -Name Accounting Standards Codification -Section 15 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480123/805-50-15-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 805 -SubTopic 50 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/805-50/tableOfContent + Details
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- References No definition available. + Details
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