XML 31 R20.htm IDEA: XBRL DOCUMENT v3.5.0.2
Subsequent Events
9 Months Ended
Sep. 30, 2016
Subsequent Events [Abstract]  
Subsequent Events
Subsequent Events
The Company has reviewed operating activities for the period subsequent to September 30, 2016, and prior to the date the financial statements are issued or are available to be issued, and determined the following subsequent event is required to be disclosed.
Burtonsville Town Square
The Company recently entered into an agreement to purchase for $75 million, plus approximately $1.3 million of acquisition costs, Burtonsville Town Square located in Burtonsville, Montgomery County, Maryland and has an earnest money deposit of $5 million at risk. Approximately $40 million of the purchase price will be funded through a new mortgage loan and the remainder will be funded through the Company’s revolving credit facility. The property is anchored by a Giant Food store and a CVS Pharmacy. The Company anticipates closing the acquisition and the loan on or before January 31, 2017.