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Real Estate Acquisitions and Contingent Liability (Tables) | 9 Months Ended
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Sep. 30, 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 nine months ended September 30, 2015 (amounts in thousands):
Description of Property |  | Date Acquired |  | Contract Purchase Price |  | Terms of Payment (a) |  | Third Party Real Estate Acquisition Costs (b) |
Marston Park Plaza retail stores, Lakewood, Colorado (c) |  | February 25, 2015 |  | $ | 17,485 |  | Cash and $11,853 mortgage (d) |  | $ | 184 |
Interline Brands distribution facility, Louisville, Kentucky |  | March 18, 2015 |  | 4,400 |  | Cash and $2,640 mortgage (e) |  | 42 |
Land — The Meadows Apartments, Lakemoor, Illinois |  | March 24, 2015 |  | 9,300 |  | All cash |  | — | (f)
Joint venture interest - Shopko retail store, Lincoln, Nebraska (g) |  | March 31, 2015 |  | 6,300 |  | All cash (g) |  | — |
Archway Roofing industrial facility, Louisville, Kentucky (h) |  | May 20, 2015 |  | 300 |  | All cash |  | 15 |
JCIM - industrial facility, McCalla, Alabama |  | July 28, 2015 |  | 16,750 |  | All cash |  | 45 |
Fedex & CHEP USA distribution facility, Delport (St. Louis), Missouri |  | September 25, 2015 |  | 19,050 |  | Cash and $12,383 mortgage (i) |  | 81 |
Other costs (j) |  |  |  | — |  |  |  | 50 |
Totals |  |  |  | $ | 73,585 |  |  |  | $ | 417 |
| (a) |  | All of the mortgages listed in this column were obtained simultaneously with the acquisition of the applicable property.
| (b) |  | Included as an expense in the accompanying consolidated statements of income.
| (c) |  | 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.
| (d) |  | The new mortgage debt bears interest at 4.12% per annum and matures February 2025.
| (e) |  | The new mortgage debt bears interest at 3.88% per annum and matures February 2021.
| (f) |  | Transaction costs aggregating $263 incurred with this asset acquisition were capitalized.
| (g) |  | 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.
| (h) |  | This property is adjacent to the Interline Brands distribution facility purchased in March 2015.
| (i) |  | The new mortgage debt bears interest at 3.85% per annum and matures August 2024.
| (j) |  | Costs incurred for potential acquisitions and 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 nine months ended September 30, 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) |  | 9,563 |  | — |  | — |  | — |  | — |  | 9,563 |
Joint venture interest - Shopko retail store, Lincoln, Nebraska (b) |  | 3,768 |  | 11,262 |  | 570 |  | 922 |  | (3,929 | ) | 12,593 |
Archway Roofing industrial facility, Louisville, Kentucky |  | 51 |  | 221 |  | 9 |  | 19 |  | — |  | 300 |
JCIM - industrial facility, McCalla, Alabama |  | 1,601 |  | 14,618 |  | 180 |  | 474 |  | (123 | ) | 16,750 |
FedEx & CHEP USA distribution facility, Delport (St. Louis), Missouri |  | 3,728 |  | 12,456 |  | 550 |  | 2,777 |  | (461 | ) | 19,050 |
Subtotals |  | 25,294 |  | 52,288 |  | 2,114 |  | 5,780 |  | (5,335 | ) | 80,141 |
Other (c) |  | 12 |  | 19 |  | — |  | — |  | (31 | ) | — |
Totals |  | $ | 25,306 |  | $ | 52,307 |  | $ | 2,114 |  | $ | 5,780 |  | $ | (5,366 | ) | $ | 80,141 |
| (a) |  | Includes capitalized transaction costs of $263 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 Real Estate Acquisitions and Contingent Liability + 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=56956791&loc=d3e4845-128472 + Details
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