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Real Estate Acquisitions (Tables) | 9 Months Ended
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Sep. 30, 2016
Real Estate Acquisitions |
Schedule of the Company's acquisitions of real estate | The following chart details the Company’s acquisitions of real estate during the nine months ended September 30, 2016 (amounts in thousands):
Description of Property |  | Date Acquired |  | Contract Purchase Price |  | Terms of Payment |  | Third Party Real Estate Acquisition Costs (a) |
Multi-tenant industrial facility, Greenville, South Carolina (b) |  | March 30, 2016 |  | $ | 8,100 |  | All cash |  | $ | 81 |
Multi-tenant industrial facility, Greenville, South Carolina (b) |  | March 30, 2016 |  | 8,950 |  | All cash |  | 83 |
Toro distribution facility, El Paso, Texas (c) |  | June 3, 2016 |  | 23,695 |  | All cash |  | 65 |
4 Advanced Auto retail stores, Ohio (d) |  | June 16, 2016 |  | 6,523 |  | Cash and $4,300 mortgage (d) |  | 101 |
Land - The Briarbrook Village Apartments, Wheaton, Illinois (e) |  | August 2, 2016 |  | 10,530 |  | All cash |  | — | (f)
Burlington Coat and Micro Center retail stores, St. Louis Park, Minnesota (g) |  | August 12, 2016 |  | 14,150 |  | All cash |  | 73 |
Land - The Vue Apartments, Beachwood, Ohio (e) |  | August 16, 2016 |  | 13,896 |  | All cash |  | — | (h)
Famous Footwear distribution facility, Lebanon, Tennessee (i) |  | September 1, 2016 |  | 32,734 |  | Cash and $21,288 mortgage (i) |  | 193 |
Other costs (j) |  |  |  | — |  |  |  | 14 |
Totals |  |  |  | $ | 118,578 |  |  |  | $ | 610 |
| (a) |  | Included as an expense in the accompanying consolidated statement of income.
| (b) |  | These properties are adjacent to one another and are each net leased to three unrelated tenants pursuant to leases that expire between 2017 and 2021.
| (c) |  | The property is net leased by a single tenant pursuant to two separate coterminous leases expiring in 2022.
| (d) |  | The new mortgage debt, which was obtained simultaneously with the acquisition of these properties, bears interest at 3.24% per annum, matures July 2026, and is comprised of four individual and cross-collateralized loans. The properties are net leased by a single tenant pursuant to four separate leases, three of which expire in 2026 and one of which expires in 2025.
| (e) |  | These properties are net leased to related entities through 2046. See Note 6.
| (f) |  | Transaction costs aggregating $6 incurred with this asset acquisition were capitalized.
| (g) |  | This property is net leased to two unrelated tenants pursuant to leases expiring between 2019 and 2020.
| (h) |  | Transaction costs aggregating $5 incurred with this asset acquisition were capitalized.
| (i) |  | The new mortgage debt, which was obtained simultaneously with the acquisition of the property, bears interest at 3.7% per annum and matures October 2031. The property is net leased by a single tenant through 2031.
| (j) |  | Costs incurred for properties purchased in 2015 and transactions that were not consummated.
Schedule of allocation of purchase price for the company's acquisitions of real estate | The following chart provides the allocation of the purchase price for the Company’s acquisitions of real estate during the nine months ended September 30, 2016 (amounts in thousands):
|  |  |  |  |  | Building |  | Intangible Lease |  |  |
Description of Property |  | Land |  | Building |  | Improvements |  | Asset |  | Liability |  | Total |
Multi-tenant industrial facility, Greenville, South Carolina |  | $ | 693 |  | $ | 6,718 |  | $ | 175 |  | $ | 514 |  | $ | — |  | $ | 8,100 |
Multi-tenant industrial facility, Greenville, South Carolina |  | 528 |  | 7,893 |  | 181 |  | 441 |  | (93 | ) | 8,950 |
Toro distribution facility, El Paso, Texas |  | 3,691 |  | 17,525 |  | 379 |  | 2,100 |  | — |  | 23,695 |
4 Advanced Auto retail stores, Ohio |  | 653 |  | 5,012 |  | 189 |  | 912 |  | (243 | ) | 6,523 |
Land - The Briarbrook Village Apartments, Wheaton, Illinois (a) |  | 10,536 |  | — |  | — |  | — |  | — |  | 10,536 |
Burlington Coat and Micro Center retail stores, St. Louis Park, Minnesota (b) |  | 3,388 |  | 12,632 |  | 456 |  | 651 |  | (2,977 | ) | 14,150 |
Land - The Vue Apartments, Beachwood, Ohio (c) |  | 13,901 |  | — |  | — |  | — |  | — |  | 13,901 |
Famous Footwear distribution facility, Lebanon, Tennessee (b) |  | 2,094 |  | 29,436 |  | 603 |  | 3,576 |  | (2,975 | ) | 32,734 |
Totals |  | $ | 35,484 |  | $ | 79,216 |  | $ | 1,983 |  | $ | 8,194 |  | $ | (6,288 | ) | $ | 118,589 |
| (a) |  | Transaction costs aggregating $6 incurred with this asset acquisition were capitalized.
| (b) |  | The Company is in the process of finalizing the purchase price allocation for this property; therefore, the allocation is preliminary and subject to change.
| (c) |  | Transaction costs aggregating $5 incurred with this asset acquisition were capitalized.
Schedule of business acquisition pro forma information |
|  | Nine Months Ended |  | Year Ended |
|  | September 30, 2016 |  | December 31, 2015 |
Pro forma revenues |  | $ | 55,519 |  | $ | 73,037 |
Pro forma net income attributable to One Liberty Properties, Inc. |  | 21,128 |  | 20,560 |
Pro forma weighted average number of common shares outstanding: |  |  |  |  |
Basic |  | 16,605 |  | 15,971 |
Diluted |  | 16,722 |  | 16,079 |
Pro forma per common share attributable to common stockholders: |  |  |  |  |
Basic |  | $ | 1.23 |  | $ | 1.23 |
Diluted |  | $ | 1.22 |  | $ | 1.23 |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2)-(3) -URI http://asc.fasb.org/extlink&oid=65885119&loc=d3e1392-128463 + 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=73530397&loc=d3e4845-128472 + Details
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