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Real Estate Acquisitions (Tables)
9 Months Ended
Sep. 30, 2013
Real Estate Acquisitions  
Schedule of real estate acquisitions

The following chart details the Company’s real estate acquisitions during the nine months ended September 30, 2013 (amounts in thousands):

 

Description of Property

 

Date Acquired

 

Contract
Purchase
Price

 

Terms of
 Payment

 

Third Party
Real Estate
Acquisition
Costs (a)

 

Kmart retail store,

 

 

 

 

 

 

 

 

 

Clemmons, North Carolina (b) 

 

March 22, 2013

 

$

4,640

 

All cash

 

$

119

 

 

 

 

 

 

 

 

 

 

 

Shutterfly flex facility

 

 

 

 

 

 

 

 

 

Fort Mill, South Carolina

 

July 1, 2013

 

15,500

 

Cash and $9,300 mortgage (c)

 

118

 

 

 

 

 

 

 

 

 

 

 

Texas Land & Cattle restaurant

 

 

 

 

 

 

 

 

 

Killeen, Texas

 

July 30, 2013

 

2,020

 

All cash

 

43

 

 

 

 

 

 

 

 

 

 

 

Hooters restaurant

 

 

 

 

 

 

 

 

 

Concord, North Carolina

 

August 1, 2013

 

2,469

 

All cash

 

13

 

 

 

 

 

 

 

 

 

 

 

TRISUN Health Care - assisted living facility

 

 

 

 

 

 

 

 

 

Round Rock, Texas

 

August 6, 2013

 

22,800

 

Cash and $15,275 mortgage (d)

 

288

 

 

 

 

 

 

 

 

 

 

 

Hooters restaurant

 

 

 

 

 

 

 

 

 

Myrtle Beach, South Carolina

 

September 3, 2013

 

2,635

 

All cash

 

31

 

 

 

 

 

 

 

 

 

 

 

Joe’s Crab Shack restaurant

 

 

 

 

 

 

 

 

 

Ann Arbor, Michigan

 

September 12, 2013

 

2,980

 

All cash

 

28

 

 

 

 

 

 

 

 

 

 

 

FedEx Express facility

 

 

 

 

 

 

 

 

 

Indianapolis, Indiana

 

September 13, 2013

 

9,270

 

All cash

 

31

 

 

 

 

 

 

 

 

 

 

 

Northern Tool & Equipment distribution facility

 

 

 

 

 

 

 

 

 

Fort Mill, South Carolina

 

September 18, 2013

 

39,195

 

Cash and $27,300 mortgage (e)

 

84

 

 

 

 

 

 

 

 

 

 

 

Other (f) 

 

 

 

 

 

 

67

 

Totals

 

 

 

$

101,509

 

 

 

$

822

 

 

 

(a)   Included as an expense in the accompanying consolidated statements of income.

(b)   Owned by a consolidated joint venture in which the Company has a 90% interest.

(c)    The mortgage bears interest at 4.562% per annum and matures July 1, 2023.

(d)   The mortgage bears interest at 5.375% per annum and matures August 6, 2023.

(e)    The mortgage bears interest at 4.875% per annum and matures April 1, 2029.

(f)     Costs incurred for potential acquisitions and properties purchased in 2012.