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Properties, Net (Tables)

9 Months Ended

Sep. 30, 2024

Real Estate [Abstract]

Schedule of Operating Properties, Net

Operating properties, net consisted of the following (in thousands): 

			September 30, 2024						December 31, 2023
Land			$	491,304					$	482,964
Buildings and improvements			4,301,385						4,164,004
Less: Accumulated depreciation			(1,502,730)						(1,400,162)
Operating properties, net			$	3,289,959					$	3,246,806

Schedule of Allocation of Acquisition Costs

The table below sets forth the allocation of the aggregate purchase price and transaction costs associated with these acquisitions (in thousands):

Land, operating properties			$	8,361
Building and improvements			16,635
Intangible assets on real estate acquisitions			7,248
Total acquisition cost			$	32,244

Schedule of Intangible Assets Acquired

Intangible assets recorded in connection with these acquisitions included the following (dollars in thousands):

									Weighted Average Amortization Period  (in Years)
Tenant relationship value			$	3,752					12.4
In-place lease value			2,229						2.4
Above-market leases			1,267						2.4
			$	7,248					7.6

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- Definition

Tabular disclosure of asset acquisition.

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-Topic 805
-SubTopic 50
-Name Accounting Standards Codification
-Section 15
-Paragraph 3
-Publisher FASB
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Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Tabular disclosure of the characteristics, including initial carrying value, residual amount, weighted average useful life, of finite-lived intangible assets acquired during the period by major class. A major class is composed of intangible assets that can be grouped together because they are similar, either by nature or by their use in the operations of the company.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Section 50
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