Note 4 — Real Estate Acquisitions

The following chart details the Company’s acquisitions of real estate during the six months ended June 30, 2018 (amounts in thousands):

Description of Property	Date Acquired	Contract Purchase Price		Terms of Payment	Capitalized Third Party Real Estate Acquisition Costs
Campania International/U.S. Tape industrial facility,
Pennsburg, PA	March 28, 2018	$	12,675	All cash	$	227
Plymouth Industries, industrial facility,
Plymouth, MN	June 7, 2018	5,500		All cash	50

Totals		$	18,175		$	277

The Company determined that with respect to each of these acquisitions, the gross assets acquired are concentrated in a single identifiable asset. Therefore, these transactions do not meet the definition of a business and are accounted for as asset acquisitions. As such, direct transaction costs associated with these asset acquisitions have been capitalized to real estate assets and depreciated over their respective useful lives.

The following chart details the allocation of the purchase price for the Company’s acquisitions of real estate during the six months ended June 30, 2018 (amounts in thousands):

					Building
Description of Property	Land		Building		Improvements		Total
Campania International/U.S. Tape industrial facility,
Pennsburg, PA	$	1,776	$	10,399	$	727	$	12,902
Plymouth Industries, industrial facility,
Plymouth, MN	1,121		4,306		123		5,550

Totals	$	2,897	$	14,705	$	850	$	18,452