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Real Estate Acquisitions and Contingent Liability (Tables) | 3 Months Ended
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Mar. 31, 2015
Real Estate Acquisitions |
Schedule of acquisitions of real estate and interest in joint venture | The following chart details the Company’s acquisitions of real estate and an interest in a joint venture during the three months ended March 31, 2015 (amounts in thousands):
Description of Property |  | Date Acquired |  | Contract Purchase Price |  | Terms of Payment |  | Third Party Real Estate Acquisition Costs (a) |
Marston Park Plaza retail stores, Lakewood, Colorado (b) |  | February 25, 2015 |  | $ | 17,485 |  | Cash and $11,853 mortgage (c) |  | $ | 184 |
Interline Brands distribution facility, Louisville, Kentucky |  | March 18, 2015 |  | 4,400 |  | Cash and $2,640 mortgage (d) |  | 44 |
Land — The Meadows Apartments, Lakemoor, Illinois |  | March 24, 2015 |  | 9,300 |  | All cash |  | — | (e)
Joint venture interest- Shopko retail store, Lincoln, Nebraska (f) |  | March 31, 2015 |  | 6,300 |  | All cash (f) |  | — |
Other costs (g) |  |  |  | — |  |  |  | 20 |
Totals |  |  |  | $ | 37,485 |  |  |  | $ | 248 |
| (a) |  | Included as an expense in the accompanying consolidated statements of income.
| (b) |  | Owned by a joint venture in which the Company has a 90% interest. The non-controlling interest contributed $663 for its 10% interest, which was equal to the fair value of such interest at the date of purchase.
| (c) |  | The mortgage debt obtained in connection with the purchase bears interest at 4.12% per annum and matures February 2025.
| (d) |  | The mortgage debt obtained in connection with the purchase bears interest at 3.88% per annum and matures February 2021.
| (e) |  | Transaction costs aggregating $228 incurred with this asset acquisition were capitalized.
| (f) |  | The Company purchased its unconsolidated joint venture partner’s 50% interest for $6,300. The payment was comprised of (i) $2,636 paid directly to the partner and (ii) $3,664, substantially all of which was used to pay off the partner’s 50% share of the underlying joint venture mortgage.
| (g) |  | Costs incurred for transactions that were not consummated.
Schedule of allocation of purchase price for the company's acquisitions of real estate and an interest in joint venture | The following chart provides the preliminary allocation of the purchase price for the Company’s acquisitions of real estate and an interest in a joint venture during the three months ended March 31, 2015 (amounts in thousands):
|  |  |  |  |  | Building |  | Intangible Lease |  |  |
Description of Property |  | Land |  | Building |  | Improvements |  | Asset |  | Liability |  | Total |
Marston Park Plaza retail stores, Lakewood, Colorado |  | $ | 6,005 |  | $ | 10,109 |  | $ | 700 |  | $ | 1,493 |  | $ | (822 | ) | $ | 17,485 |
Interline Brands distribution facility, Louisville, Kentucky |  | 578 |  | 3,622 |  | 105 |  | 95 |  | — |  | 4,400 |
Land — The Meadows Apartments, Lakemoor, Illinois (a) |  | 9,528 |  | — |  | — |  | — |  | — |  | 9,528 |
Shopko retail store, Lincoln, Nebraska (b) |  | 4,009 |  | 11,040 |  | 574 |  | 930 |  | (3,960 | ) | 12,593 |
Subtotals |  | 20,120 |  | 24,771 |  | 1,379 |  | 2,518 |  | (4,782 | ) | 44,006 |
Other (c) |  | 12 |  | 19 |  | — |  | — |  | (31 | ) | — |
Totals |  | $ | 20,132 |  | $ | 24,790 |  | $ | 1,379 |  | $ | 2,518 |  | $ | (4,813 | ) | $ | 44,006 |
| (a) |  | Includes capitalized transaction costs of $228 incurred with this asset acquisition.
| (b) |  | Fair value of the assets previously owned by an unconsolidated joint venture of the Company. The Company owns 100% of this property as a result of its purchase of its partner’s 50% interest on March 31, 2015.
| (c) |  | Adjustments to finalize the purchase price allocation relating to a property purchased in October 2014.

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- Definition Tabular disclosure of real estate and interest in joint venture acquisitions during the period, including date purchased, contract price, terms of payment and third party acquisition costs. + References No definition available. + Details
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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=39739317&loc=d3e4845-128472 + Details
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