XML 40 R27.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Acquired Properties (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2017
Business Combination, Description [Abstract] |
Schedule of acquisitions | The following table reflects the eight retail properties acquired during the year ended December 31, 2016 for a gross acquisition price of $465,177.
Property |  | Location |  | Acquisition Date |  | Gross Acquisition Price |  | Square Feet
Shops at the Galleria |  | Bee Cave, TX |  | April 1, 2016 |  | $ | 132,000 |  |  | 538,000
Renaissance Center (a) |  | Durham, NC |  | April 1, 2016 |  | 129,200 |  |  | 363,000
Stevenson Ranch |  | Stevenson Ranch, CA |  | April 15, 2016 |  | 72,500 |  |  | 187,000
The Pointe at Creedmoor |  | Raleigh, NC |  | July 12, 2016 |  | 16,977 |  |  | 60,000
Windward Commons |  | Alpharetta, GA |  | August 23, 2016 |  | 27,650 |  |  | 117,000
Old Grove Marketplace |  | Oceanside, CA |  | August 25, 2016 |  | 23,250 |  |  | 81,000
Northcross Commons (b) |  | Huntersville, NC |  | October 14, 2016 |  | 31,000 |  |  | 63,000
Riverwalk Market (b) |  | Flower Mound, TX |  | November 14, 2016 |  | 32,600 |  |  | 90,000
Total |  |  |  |  |  | $ | 465,177 |  |  | 1,499,000
(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 year ended December 31, 2016.
(b) | These retail properties were accounted for as asset acquisitions in accordance with ASU No. 2017-01. As a result, the Company capitalized transaction costs of approximately $220 during the year ended December 31, 2016 related to these retail properties.
The following table reflects the retail properties acquired during the year ended December 31, 2017.
Property |  | Location |  | Acquisition Date |  | Gross Acquisition Price |  | Square Feet
Campus Marketplace (a) |  | San Marcos, CA |  | January 6, 2017 |  | $ | 73,350 |  |  | 144,000
Paraiso Parc and Westfork Plaza |  | Pembroke Pines, FL |  | February 1, 2017 |  | 163,000 |  |  | 386,000
The Shops at Town Center |  | Germantown, MD |  | February 21, 2017 |  | 53,550 |  |  | 125,000
Cary Park Town Center |  | Cary, NC |  | August 14, 2017 |  | 25,000 |  |  | 93,000
The Parke |  | Cedar Park, TX |  | August 18, 2017 |  | 112,250 |  |  | 364,000
The Plaza Midtown |  | Atlanta, GA |  | August 18, 2017 |  | 31,800 |  |  | 70,000
River Oaks (b) |  | Santa Clarita, CA |  | September 14, 2017 |  | 115,000 |  |  | 275,000
Kyle Marketplace (b) |  | Kyle, TX |  | September 21, 2017 |  | 59,475 |  |  | 226,000
Total |  |  |  |  |  | $ | 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 year ended December 31, 2017.
(b) | These retail properties are held at the EAT subsidiary as Parked Assets in anticipation of completing a Reverse 1031 Exchange in 2018. (See "Note 5. Investment in Consolidated and Unconsolidated Entities").
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table summarizes the estimated fair value of the retail properties acquired and liabilities assumed for the year ended December 31, 2016, as listed above.
| 2016 Acquisitions
Land | $ | 154,737 |
Building and other improvements | 284,598 |
Total investment properties | 439,335 |
Intangible assets (a) | 44,672 |
Intangible liabilities (b) | (19,088 | )
Net other assets and liabilities | 258 |
Total fair value of assets acquired and liabilities assumed | $ | 465,177 |
(a) | Intangible assets include in-place leases and above market leases.
(b) | Intangible liabilities include below market leases.
The following table summarizes the estimated fair value of the retail properties acquired and liabilities assumed for the year ended December 31, 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.
Schedule of Pro Forma Information | The following pro-forma information is not necessarily indicative of the results that actually would have occurred nor does it indicate future operating results.
| (unaudited)
| Year ended December 31,
| 2016 |  | 2015
Total income | $ | 259,878 |  |  | $ | 288,943 |
Net income (loss) from continuing operations | $ | 89,680 |  |  | $ | (28,014 | )

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=79982066&loc=d3e1392-128463 + Details
Name: | us-gaap_BusinessAcquisitionProFormaInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_BusinessCombinationDescriptionAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

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=79982066&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=79982066&loc=d3e1392-128463 + Details
Name: | us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=84161108&loc=d3e4845-128472 + Details
Name: | us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration