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Acquired Properties

3 Months Ended

Mar. 31, 2019

The following table reflects the retail properties acquired, accounted for as asset acquisitions, during the three months ended March 31, 2019:



Acquisition Date	Property	Metropolitan Statistical Area ("MSA")(a)	Gross Acquisition Price		Square Feet
January 31, 2019	Commons at University Place	Raleigh-Cary, NC	$	23,250	92,000
March 20, 2019	Lakeside Winter Park and Lakeside Crossings	Orlando-Kissimmee-Sanford, FL	63,500		76,000
			$	86,750	168,000


(a)	As defined by the United States Office of Management and Budget.

The Company incurred transaction costs of $608 during the three months ended March 31, 2019, which were capitalized and included in building and other improvements on the Company's condensed consolidated balance sheets.

The following table summarizes the estimated fair value of the retail properties' assets acquired and liabilities assumed for the three months ended March 31, 2019:



	2019 Acquisitions
Land	$	19,902
Building and other improvements	59,672
Total investment properties	79,574
Intangible assets (a)	8,504
Intangible liabilities (b)	(2,091		)
Net other assets and liabilities	763
Total fair value of assets acquired and liabilities assumed	$	86,750


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


(b)	Intangible liabilities include below-market leases.

No retail properties were acquired during the three months ended March 31, 2018.