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Property Acquisitions (Tables)

9 Months Ended

Sep. 30, 2024

During the nine months ended September 30, 2024, we acquired fee simple interests in 52 properties for an aggregate purchase price of $204.5 million (including amounts funded in prior periods) as follows (in thousands):


					Purchase Price Allocation
Asset Type	Properties		Purchase Price		Land		Buildings & Improve- ments		In-Place Leases		Intangible/ Market Lease Assets		Intangible/ Market Lease Liabilities
Express tunnel car washes		29	$	136,070	$	31,497	$	89,775	$	14,870	$	434	$	(506	)
Convenience stores		3		18,853		6,271		10,964		1,618		—		—
Auto service centers		17		41,370		11,534		19,104		4,842		5,890		—
Drive thru QSRs		3		8,195		1,689		5,538		968		—		—
		52	$	204,488	$	50,991	$	125,381	$	22,298	$	6,324	$	(506	)

During the nine months ended September 30, 2023, we acquired fee simple interests in 37 properties for an aggregate purchase price of $193.0 million (including amounts funded in prior periods) as follows (in thousands):


					Purchase Price Allocation
Asset Type	Properties		Purchase Price		Land		Buildings & Improve- ments		In-Place Leases		Intangible Market Lease Assets		Intangible Market Lease Liabilities
Express tunnel car washes		23	$	123,416	$	34,481	$	75,759	$	13,096	$	637	$	(557	)
Convenience stores (a)		10		61,392		21,313		34,245		5,834		—		—
Drive thru QSRs		3		6,094		2,625		2,737		583		149		—
Auto service centers		1		2,086		894		990		202		—		—
		37	$	192,988	$	59,313	$	113,731	$	19,715	$	786	$	(557	)

(a)

Purchase price and land allocation include $0.9 million related to the acquisition of a land parcel adjacent to an existing site which was subsequently combined with the existing site into a single property upon redevelopment of the existing site.