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ACQUISITION AND DISPOSITION OF REAL ESTATE AND PROPERTIES HELD FOR SALE (Tables) | 3 Months Ended
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Mar. 31, 2015
ACQUISITION AND DISPOSITION OF REAL ESTATE AND DISCONTINUED OPERATIONS ABSTRACT |
Schedule of Business Acquisitions, by Acquisition | The following table summarizes the Company's preliminary allocations of the purchase prices of assets acquired and liabilities assumed during 2015 which have yet to be finalized:
(dollars in thousands) | Preliminary Purchase Price Allocations
Land | $ | 57,509 |
Buildings and improvements | 172,527 |
Above-below market debt assumed (included in Mortgage and other notes payable) | (9,765 | )
Total consideration | $ | 220,271 |
The following table summarizes the preliminary allocations of the purchase prices of these properties as recorded as of December 31, 2014, and the finalized allocations as adjusted as of March 31, 2015:
(dollars in thousands) | Purchase Price Allocations as Originally Reported | Adjustments | Finalized Purchase Price Allocations
Land | $ | 22,625 |  | $ | 10,765 |  | $ | 33,390 |
Buildings and improvements | 67,875 |  | (12,626 | ) | 55,249 |
Acquisition-related intangible assets (in Acquired lease intangibles, net) | — |  | 4,705 |  | 4,705 |
Acquisition-related intangible liabilities (in Acquired lease intangibles, net) | — |  | (2,844 | ) | (2,844 | )
Total consideration | $ | 90,500 |  | $ | — |  | $ | 90,500 |
During 2015, the Company acquired the following properties through its Core Portfolio and Fund IV as follows:
(dollars in thousands) |  |  |  |  |  |  |
Property | GLA |  | Percent Owned |  | Type | Month of Acquisition | Purchase Price |  | Location | Assumption of Debt |
Core Portfolio: |  |  |  |  |  |  |
City Center | 205,000 |  | 100 | % | Urban Retail Center | March | $ | 155,000 |  | San Fransisco, CA | $ | — |
163 Highland Avenue | 40,500 |  | 100 | % | Suburban Shopping Center | March | 24,000 |  | Needham, MA | 9,765 |
Total Core Portfolio | 245,500 |  |  |  |  | $ | 179,000 |  |  | $ | 9,765 |
Fund IV: |  |  |  |  |  |  |
1035 Third Avenue (1) | 53,294 |  | 100 | % | Street Retail | January | $ | 51,036 |  | New York, NY | $ | — |
Total Fund IV | 53,294 |  |  |  |  | $ | 51,036 |  |  | $ | — |
Total | 298,794 |  |  |  |  | $ | 230,036 |  |  | $ | 9,765 |
Note: (1) GLA includes a portion of office space and a below-grade operator controlled parking garage.
Schedule Of Property Dispositions | During 2015, the Company disposed of the following property:
(dollars in thousands) |  |  |  |  |
Dispositions | GLA | Sale Price | Gain on Sale | Month Sold | Owner
Lincoln Park Centre | 61,761 |  | $ | 64,000 |  | $ | 27,143 |  | January | Fund III
Disclosure of Long Lived Assets Held-for-sale | The assets and liabilities relating to those properties are summarized as follows:
(dollars in thousands) | December 31, 2014
Assets of properties held for sale | $ | 56,073 |
Liabilities of properties held for sale | $ | 25,500 |

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- Definition Tabular disclosure of long lived assets held for sale. Disclosure may include the description of the facts and circumstances leading to the expected disposal, manner and timing of disposal, the carrying value of the assets held for sale, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2941-110230 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760 + Details
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