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Acquisition of Rental Property (Tables) | 12 Months Ended
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Dec. 31, 2018
Acquisition of Rental Property [Abstract] |
Schedule of Business Acquisitions | The following table illustrates the fair value of the aggregate consideration transferred to acquire the equity interests of the Savannah and Westgate properties at the acquisition date for the year ended 2016 (in thousands):
Cash transferred for equity interests | $ | 54,000 |
Fair value of our previously held interests | 145,581 |
Fair value of net assets | $ | 199,581 |
Schedule of Purchase Price Allocation | The following table illustrates the aggregate fair value of the amounts of the identifiable assets acquired and liabilities assumed and recognized at the acquisition date for the Savannah and Westgate properties acquired during the year ended 2016:
|  | Fair Value (in thousands) |  | Weighted-Average Amortization Period (in years)
Cash |  | $ | 8,781 |  |  |
Land |  | 27,593 |  |  |
Buildings, improvements and fixtures |  | 308,117 |  |  |
Deferred lease costs and other intangibles |  |  |  |
Above market lease value |  | 15,882 |  |  | 7.2
Lease in place value |  | 13,972 |  |  | 5.9
Lease and legal costs |  | 10,264 |  |  | 6.4
Total deferred lease costs and other intangibles |  | 40,118 |  |  |
Prepaids and other assets |  | 477 |  |  |
Debt |  | (158,994 | ) |  |
Accounts payable and accrued expenses |  | (7,183 | ) |  |
Other liabilities (below market lease value) |  | (19,328 | ) |  | 12.0
Total fair value of net assets |  | $ | 199,581 |  |  |

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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1486-128463 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=84161108&loc=d3e4845-128472 + Details
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