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Acquired Properties (Tables) | 6 Months Ended
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Jun. 30, 2017
Business Combinations [Abstract] |
Schedule of Business Acquisitions | The following table reflects the multi-tenant retail assets acquired during the six months ended June 30, 2017.
Asset |  | Location |  | Acquisition Date |  | Gross Acquisition Price |  | Square Feet
Campus Marketplace |  | San Marcos, CA |  | 1/6/2017 |  | $ | 73,350 |  |  | 144,000
Paraiso Parc and Westfork Plaza |  | Pembroke Pines, FL |  | 2/1/2017 |  | 163,000 |  |  | 369,000
The Shops at Town Center |  | Germantown, MD |  | 2/21/2017 |  | 53,550 |  |  | 125,000
|  |  |  |  |  | $ | 289,900 |  |  | 638,000
The following table summarizes the estimated fair value of the multi-tenant retail assets acquired and liabilities assumed for the six months ended June 30, 2017, as listed above.
| 2017 Acquisitions
Land | $ | 75,194 |
Building and other improvements | 181,389 |
Total investment properties | 256,583 |
Intangible assets (a) | 25,193 |
Intangible liabilities (b) | (8,516 | )
Net other assets and liabilities | 16,640 |
Total fair value of assets acquired and liabilities assumed | $ | 289,900 |
(a) | Intangible assets include in-place leases and above market leases.
(b) | Intangible liabilities include below market leases.
The following table reflects the multi-tenant retail assets acquired during the six months ended June 30, 2016.
Asset |  | Location |  | Acquisition Date |  | Gross Acquisition Price |  | Square Feet
Shops at the Galleria |  | Bee Cave, TX |  | 4/1/2016 |  | $ | 132,000 |  |  | 538,000
Renaissance Center |  | Durham, NC |  | 4/1/2016 |  | 129,200 |  |  | 363,000
Stevenson Ranch |  | Stevenson, CA |  | 4/15/2016 |  | 72,500 |  |  | 187,000
|  |  |  |  |  | $ | 333,700 |  |  | 1,088,000
The following table summarizes the estimated fair value of the multi-tenant retail assets acquired and liabilities assumed for the six months ended June 30, 2016, as listed above. In addition, The Company assumed mortgage debt of $16,000 on one acquisition reported as part of non-cash financing activities.
| 2016 Acquisitions
Land | $ | 108,340 |
Building and other improvements | 211,014 |
Total investment properties | 319,354 |
Intangible assets (a) | 28,944 |
Intangible liabilities (b) | (14,858 | )
Net other assets and liabilities | 260 |
Total fair value of assets acquired and liabilities assumed | $ | 333,700 |
(a) | Intangible assets include in-place leases, above market leases, tenant improvement allowance and leasing commissions.
(b) | Intangible liabilities include below market leases.
Schedule of Pro Forma Information | The following unaudited pro-forma results of operations reflect these transactions as if each had occurred on January 1, 2016. The pro-forma information is not necessarily indicative of the results that actually would have occurred nor does it indicate future operating results.
| Three months ended June 30, 2016 |  | Six months ended June 30, 2016
Revenues | $ | 62,993 |  |  | $ | 131,723 |
Net income from continuing operations | $ | 19,697 |  |  | $ | 35,282 |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2)-(3) -URI http://asc.fasb.org/extlink&oid=65885119&loc=d3e1392-128463 + Details
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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=65885119&loc=d3e1486-128463 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=65885119&loc=d3e1392-128463 + Details
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