Real Estate Acquisitions and Contingent Liability (Tables)

9 Months Ended

Sep. 30, 2014

Real Estate Acquisitions and Contingent Liability

Schedule of the Company's real estate acquisitions, all of which were acquired for cash

The following chart details the Company’s real estate acquisitions, all of which were acquired for cash, during the nine months ended September 30, 2014 (amounts in thousands):

Description of Property	Date Acquired	Contract Purchase Price		Third Party Real Estate Acquisition Costs (a)
Total Wine and More retail store, Greensboro, North Carolina	January 21, 2014	$	2,971	$	20
Chuck E Cheese restaurant, Indianapolis, Indiana	January 23, 2014	2,138		9
Savers Thrift Superstore, Highlands Ranch, Colorado	May 7, 2014	4,825		44
Hobby Lobby retail store, Woodbury, Minnesota	May 21, 2014	4,770		34
Land - River Crossing Apartments, Sandy Springs, Georgia (b)	June 4, 2014	6,510		—		(c)
Noxell Corporation industrial building, Joppa, Maryland (d)	June 26, 2014	11,650		—		(c)
Other (e)		—		104
Totals		$	32,864	$	211

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

(b) The Company’s fee interest in the land is collateral for the tenant’s mortgage loan secured by the buildings located at this property.

(d) Owned by a joint venture in which the Company has a 95% interest. The non-controlling interest contributed $306 for its 5% interest, which was equal to the fair value of such interest at the date of purchase.

(e) Costs incurred for potential acquisitions and properties purchased in 2013.

Schedule of allocation of purchase price for the company's real estate acquisitions

The following chart provides the allocation of the purchase price for the Company’s real estate acquisitions during the nine months ended September 30, 2014 (amounts in thousands):

					Building		Intangible Lease
Description of Property	Land		Building		Improvements		Asset			Liability			Total
Total Wine and More retail store, Greensboro, North Carolina	$	1,046	$	1,468	$	83	$	374		$	—		$	2,971
Chuck E Cheese restaurant, Indianapolis, Indiana	853		1,321		145		94			(275		)	2,138
Savers Thrift Superstore, Highlands Ranch, Colorado	2,361		2,644		280		856			(1,316		)	4,825
Hobby Lobby retail store, Woodbury, Minnesota	1,190		3,667		335		734			(1,156		)	4,770
Land - River Crossing Apartments, Sandy Springs, Georgia (a)	6,516		—		—		—			—			6,516
Noxell Corporation industrial building, Joppa, Maryland (b)	3,805		7,991		151		—			—			11,947
Subtotals	15,771		17,091		994		2,058			(2,747		)	33,167
Other (c)	74		70		18		(59		)	(97		)	6
Totals	$	15,845	$	17,161	$	1,012	$	1,999		$	(2,844	)	$	33,173

(a) Includes capitalized transaction costs of $6 incurred with this asset acquisition.

(b) Includes capitalized transaction costs of $297 incurred with this asset acquisition.