Acquired Assets

The Company records identifiable assets, liabilities and noncontrolling interests acquired at fair value. During the nine months ended September 30, 2017, the Company acquired six wholly owned and two consolidated multi-tenant retail assets for a gross acquisition price of $633,425. Under the newly adopted ASU No. 2017-01, the Company determined these transactions should be accounted for as acquisitions of assets. Accordingly, the Company capitalized transaction costs of approximately $524 and $1,692, respectively, during the three and nine months ended September 30, 2017.

The following table reflects the multi-tenant retail assets acquired during the nine months ended September 30, 2017.



Asset	Location	Acquisition Date	Gross Acquisition Price		Square Feet
Campus Marketplace (a)	San Marcos, CA	1/6/2017	$	73,350	144,000
Paraiso Parc and Westfork Plaza	Pembroke Pines, FL	2/1/2017	163,000		386,000
The Shops at Town Center	Germantown, MD	2/21/2017	53,550		125,000
Cary Park Town Center	Cary, NC	8/14/2017	25,000		93,000
The Parke	Cedar Park, TX	8/18/2017	112,250		364,000
The Plaza Midtown	Atlanta, GA	8/18/2017	31,800		70,000
River Oaks (b)	Santa Clarita, CA	9/14/2017	115,000		275,000
Kyle Marketplace (b)	Kyle, TX	9/21/2017	59,475		226,000
			$	633,425	1,683,000


(a)	As part of this acquisition, the Company assumed mortgage debt of $41,717 as reported within non-cash financing activities on the consolidated statements of cash flows for the nine months ended September 30, 2017.


(b)	These assets are held at a wholly owned subsidiary of the EAT as Parked Assets in anticipation of completing a Reverse 1031 Exchange in 2018 (See "Note 5. Investment in Consolidated and Unconsolidated Entities")

The following table summarizes the estimated fair value of the multi-tenant retail assets acquired and liabilities assumed for the nine months ended September 30, 2017, as listed above.



	2017 Acquisitions
Land	$	125,990
Building and other improvements	440,204
Total investment properties	566,194
Intangible assets (a)	69,306
Intangible liabilities (b)	(19,099		)
Net other assets and liabilities	17,024
Total fair value of assets acquired and liabilities assumed	$	633,425


(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 nine months ended September 30, 2016 that were accounted for as business combinations.



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 (a)	Durham, NC	4/1/2016	129,200		363,000
Stevenson Ranch	Stevenson, CA	4/15/2016	72,500		187,000
The Pointe at Creedmoor	Raleigh, NC	7/12/2016	16,977		60,000
Windward Commons	Alpharetta, GA	8/23/2016	27,650		117,000
Old Grove Marketplace	Oceanside, CA	8/25/2016	23,250		81,000
			$	401,577	1,346,000


(a)	As part of this acquisition, the Company assumed mortgage debt of $16,000 as reported within non-cash financing activities on the consolidated statements of cash flows for the nine months ended September 30, 2016.

The following table summarizes the estimated fair value of the multi-tenant retail assets acquired and liabilities assumed for the nine months ended September 30, 2016, as listed above.



	2016 Acquisitions
Land	$	141,215
Building and other improvements	239,149
Total investment properties	380,364
Intangible assets (a)	37,432
Intangible liabilities (b)	(16,477		)
Net other assets and liabilities	258
Total fair value of assets acquired and liabilities assumed	$	401,577


(a)	Intangible assets include in-place leases and above market leases.


(b)	Intangible liabilities include below market leases.

For assets acquired during the nine months ended September 30, 2016 and accounted for as business combinations, the Company recorded total income of $8,025 and $14,804, respectively, for the three and nine months ended September 30, 2016. In addition, the Company recorded net income of $1,464 and $2,460, respectively, excluding acquisition costs expensed as general and administrative expense of $239 and $1,009, respectively, for the three and nine months ended September 30, 2016.

The assets acquired are included in the Company's results of operations based on their date of acquisition. 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 September 30, 2016		Nine months ended September 30, 2016
Total income	$	61,236	$	192,581
Net income from continuing operations	$	29,818	$	65,667