Real Estate

9 Months Ended

Sep. 30, 2025

In July 2025, the Company acquired The Link in Uptown Dallas. The assets acquired and liabilities assumed were recorded at relative fair value as determined by management, with the assistance of third party specialists, based on information available at the acquisition date and on current assumptions of future operations. The following table summarizes the acquisition ($ in thousands):


	The Link
Closing Purchase Price	$	218,000
Acquisition Date	July 2025
Square Feet	292,000
Market	Dallas
Purchase Price Allocation
Tangible assets
Operating properties	$	222,890







Intangible and other assets

In-place leases (1)	19,260


Prepaid expenses	48
	19,308




Intangible and other liabilities
Below market leases (1)	(21,409)

Accounts payable and other liabilities	(5,775)

	(27,184)

Total net assets acquired (2)	$	215,014

(1) The intangible assets and liabilities will be amortized over a weighted average remaining lease term of 9.3 years from the acquisition date.

(2) Represents net purchase price, including acquisition costs of $280,000 as well as net operating liabilities of $3.3 million acquired through closing prorations.