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Acquisitions (Tables) | 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] |
Business Combination | The following is a summary of the allocation of the fair value of Arrowhead Towne Center:
Property | $ | 426,097 |  |
Deferred charges | 22,307 |  |
Other assets | 2,973 |  |
Total assets acquired | 451,377 |  |
Mortgage note payable | 383,881 |  |
Discount on mortgage note payable | (33,062) |  |
Other accrued liabilities | 9,439 |  |
Total liabilities assumed | 360,258 |  |
Fair value of acquired net assets (at 100% ownership) | $ | 91,119 |  |
The following is a summary of the allocation of the fair value of South Plains Mall:
Property | $ | 183,434 |  |
Deferred charges | 19,223 |  |
Other assets | 4,114 |  |
Total assets acquired | 206,771 |  |
Mortgage note payable | 200,000 |  |
Discount on mortgage note payable | (10,372) |  |
Other accrued liabilities | 8,553 |  |
Total liabilities assumed | 198,181 |  |
Fair value of acquired net assets (at 100% ownership) | $ | 8,590 |  |
The following is a summary of the allocation of the fair value of Lakewood Center, Los Cerritos Center and Washington Square:
Property | $ | 1,526,515 |  |
Deferred charges | 85,661 |  |
Other assets | 19,635 |  |
Total assets acquired | 1,631,811 |  |
Mortgage note payable | 1,312,718 |  |
Discount on mortgage note payable | (31,119) |  |
Other accrued liabilities | 27,711 |  |
Total liabilities assumed | 1,309,310 |  |
Fair value of acquired net assets (at 100% ownership) | $ | 322,501 |  |
Schedule of Allocation of Asset Acquired | The following is a summary of the allocation of the fair value of Crabtree Mall, exclusive of closing costs and credits received:
Property | $ | 252,011 |  |
Deferred charges | 38,446 |  |
Other assets | 8,666 |  |
Total assets acquired | 299,123 |  |
Other accrued liabilities | 9,123 |  |
Total liabilities assumed | 9,123 |  |
Fair value of acquired net assets (at 100% ownership) | $ | 290,000 |  |
The following is a reconciliation of the allocation of the fair value of acquired net assets to total cash paid:
Fair value of acquired net assets (at 100% ownership) | $ | 290,000 |  |
Credits received at closing | (24,612) |  |
Closing and other transaction costs | 1,538 |  |
Total cash paid | $ | 266,926 |  |

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