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Real Estate Acquired (Tables)

12 Months Ended

Dec. 31, 2018

Real Estate [Abstract]

Allocation of purchase prices to acquired assets and liabilities

The purchase price was allocated to the assets acquired and liabilities assumed based on their fair value as shown in the following table.

(in thousands)	700 N. Glebe Road				Thruway Pad				Total
Land	$	7,236			$	2,196			$	9,432
Buildings	—				874				874
In-place Leases	—				93				93
Above Market Rent	—				—				—
Below Market Rent	—				(63		)		(63		)
Total Purchase Price	$	7,236			$	3,100			$	10,336

The purchase price was allocated to assets acquired and liabilities assumed based on their relative fair values as shown in the following table.

(in thousands)	Ashbrook Marketplace				7316 Wisconsin Avenue				Total
Land	$	8,776			$	38,662			$	47,438
Buildings	—				979				979
In-place Leases	—				886				886
Above Market Rent	—				168				168
Below Market Rent	—				(21		)		(21		)
Total Purchase Price	$	8,776			$	40,674			$	49,450

Amortization of intangible assets and deferred income related to in place leases

As of December 31, 2018, scheduled amortization of intangible assets and deferred income related to in place leases is as follows:

(In thousands)	Lease acquisition costs				Above market leases				Below market leases
2019	$	1,141			$	102			$	1,533
2020	785				52				1,434
2021	538				36				1,409
2022	383				33				1,306
2023	316				33				1,297
Thereafter	1,197				376				4,731
Total	$	4,360			$	632			$	11,710

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- References

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- 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://fasb.org/us-gaap/role/ref/legacyRef
-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

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- Definition

Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275

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