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Acquired Properties (Tables)

6 Months Ended

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

X

- 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

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- References

No definition available.

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X

- 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

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