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Real Estate Acquisitions | 9 Months Ended
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Sep. 30, 2018
Real Estate Acquisitions |
Real Estate Acquisitions | Note 4 — Real Estate Acquisitions The following chart details the Company’s acquisitions of real estate during the nine months ended September 30, 2018 (amounts in thousands):
|  |  |  |  |  |  |  |  | Capitalized
|  |  |  |  |  |  |  |  | Third Party
|  |  |  | Contract |  |  |  | Real Estate
|  |  |  | Purchase |  | Terms of |  | Acquisition
Description of Property |  | Date Acquired |  | Price |  | Payment |  | Costs
Campania International/U.S. Tape industrial facility, Pennsburg, Pennsylvania |  | March 28, 2018 |  | $ | 12,675 |  | All cash (a) |  | $ | 227
Plymouth Industries industrial facility, Plymouth, Minnesota |  | June 7, 2018 |  |  | 5,500 |  | All cash (b) |  |  | 50
Totals |  |  |  | $ | 18,175 |  |  |  | $ | 277
| (a) |  | In July 2018, the Company obtained new mortgage debt of $8,238.
| (b) |  | In September 2018, the Company obtained new mortgage debt of $3,325.
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 nine months ended September 30, 2018 (amounts in thousands):
|  |  |  |  |  |  |  | Building |  |  |
Description of Property |  | Land |  | Building |  | Improvements |  | Total
Campania International/U.S. Tape industrial facility, Pennsburg, Pennsylvania |  | $ | 1,776 |  | $ | 10,399 |  | $ | 727 |  | $ | 12,902
Plymouth Industries industrial facility, Plymouth, Minnesota |  |  | 1,121 |  |  | 4,306 |  |  | 123 |  |  | 5,550
Totals |  | $ | 2,897 |  | $ | 14,705 |  | $ | 850 |  | $ | 18,452
Property Acquisitions Subsequent to September 30, 2018 On October 19, 2018, the Company acquired, in a sale-leaseback transaction, an industrial/office property, located in Englewood, Colorado for $12,800,000. The initial term of the lease is twelve years. On November 1, 2018, the Company acquired an industrial property, located in Moorestown, New Jersey for $7,350,000. The initial term of the lease is 9.5 years.

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- Definition Real Estate Acquisitions and Contingent Liability + References No definition available. + Details
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- Definition Disclosure pertaining to real estate acquisitions. + References No definition available. + Details
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