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REAL ESTATE ACTIVITY
 6 Months Ended
Jun. 30, 2026
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):
Six Months Ended June 30,
20262025
Number of properties acquired(1)
10 10 
Number of outparcels and land for future development acquired(2)
1 — 
Contract price$266,902 $266,445 
Total price of acquisitions(3)
268,389 268,108 
(1)During the six months ended June 30, 2026, we acquired a property adjacent to one that was already wholly-owned. Therefore, the property was not an addition to our total property count.
(2)Outparcels acquired are adjacent to shopping centers that we own.
(3)Total price of acquisitions includes closing costs less credits and assumed liabilities.
The aggregate purchase price of the assets acquired during the six months ended June 30, 2026 and 2025 was allocated as follows (in thousands):
June 30, 2026June 30, 2025
ASSETS
   Land and improvements$72,286 $81,522 
   Building and improvements192,453 172,088 
   In-place lease assets24,322 24,282 
   Above-market lease assets2,914 2,021 
Total assets291,975 279,913 
LIABILITIES
   Below-market lease liabilities23,586 11,805 
Total liabilities23,586 11,805 
Net assets acquired$268,389 $268,108 
The weighted-average amortization periods for in-place, above-market, and below-market lease intangibles acquired during the six months ended June 30, 2026 and 2025 were as follows (in years):
June 30, 2026June 30, 2025
Acquired in-place leases107
Acquired above-market leases89
Acquired below-market leases2113
Property Dispositions—The following table summarizes our real estate disposition activity for the six months ended June 30, 2026 and 2025 (dollars in thousands):
Six Months Ended June 30,
20262025
Number of properties sold4 1 
Number of outparcels sold1 — 
Contract price$86,860 $24,850 
Proceeds from sale of real estate, net(1)(2)
83,380 6,438 
Gain on disposal of property, net
26,207 5,543 
(1)Total proceeds from sale of real estate, net includes closing costs less credits and secured loans received.
(2)In January 2025, we sold a property for $24.9 million and provided secured financing, receiving a note receivable of $17.4 million.
Properties Held for Sale—As of June 30, 2026, four properties were classified as held for sale. As of December 31, 2025, there were no properties classified as held for sale. A property classified as held for sale is under contract to sell, with no substantive contingencies, and the prospective buyer has significant funds at risk. Subsequent to June 30, 2026, we sold three of the properties that were classified as held for sale for $39.7 million. A summary of assets and liabilities for the properties classified as held for sale as of June 30, 2026 is below (in thousands):
June 30, 2026
ASSETS
Total investment in real estate assets, net $37,741 
Other assets, net 1,647 
Total assets $39,388 
LIABILITIES
Accounts payable and other liabilities $1,095 
Total liabilities $1,095