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Real Estate Activity
 9 Months Ended
Sep. 30, 2024
Real Estate Investments, Net [Abstract]  
Real Estate Activity
4. REAL ESTATE ACTIVITY
Acquisitions—The following table summarizes our real estate acquisition activity (dollars in thousands):
Nine Months Ended September 30,
20242023
Number of properties acquired8 5 
Number of outparcels acquired(1)(2)
4 1 
Contract price$203,402 $92,060 
Total price of acquisitions(3)
205,002 83,073 
(1)Outparcels acquired are adjacent to shopping centers that we own.
(2)During the nine months ended September 30, 2024, we acquired an outparcel adjacent to a property that is owned by our unconsolidated joint venture, GRP I. Therefore, the outparcel is an addition to our total property count.
(3)Total price of acquisitions includes closing costs less credits and assumed liabilities.
The aggregate purchase price of the assets acquired during the nine months ended September 30, 2024 and 2023 were allocated as follows (in thousands):
September 30, 2024September 30, 2023
ASSETS
   Land and improvements$68,403 $29,084 
   Building and improvements130,577 59,287 
   In-place lease assets20,413 7,954 
   Above-market lease assets1,168 640 
   Below-market debt— 444 
Total assets220,561 97,409 
LIABILITIES
   Debt obligations, net— 9,614 
   Below-market lease liabilities15,334 4,722 
   Other liabilities assumed225 — 
Total liabilities15,559 14,336 
Net assets acquired$205,002 $83,073 
The weighted-average amortization periods for in-place, above-market, and below-market lease intangibles and below-market debt acquired during the nine months ended September 30, 2024 and 2023 are as follows (in years):
September 30, 2024September 30, 2023
Acquired in-place leases1211
Acquired above-market leases87
Acquired below-market leases1716
Assumed below-market debt—2
Property Dispositions—We sold no properties during the nine months ended September 30, 2024, but we recognized a minimal loss on disposal of property due to miscellaneous write-off activity and expenses related to previous and future potential dispositions. During the nine months ended September 30, 2023, we sold one property and two outparcels at a contract price of $6.3 million, received $7.1 million in proceeds, and recognized a gain on disposal of property of $1.1 million which was primarily due to land acquired from us by local authorities.