Acquisitions

12 Months Ended

Dec. 31, 2019

5.	Acquisitions

In 2019 and 2018, the Company acquired the following shopping centers (in millions):

Asset	Location	Date Acquired	Purchase Price
Vintage Plaza	Austin, TX	October 2019	$	12.6
The Blocks	Portland, OR	November 2019		50.5
Southtown Center	Tampa, FL	December 2019		22.0
Sharon Greens	Cumming, GA	November 2018	$	13.4
Melbourne Shopping Center	Melbourne, FL	November 2018		11.4
Market Square	Douglasville, GA	December 2018		10.3

The fair value of acquisitions was allocated as follows (in thousands):

							Weighted-Average Amortization Period (in Years)
	2019			2018			2019	2018
Land	$	23,589		$	9,340		N/A	N/A
Buildings		55,604			20,661		(A)	(A)
Tenant improvements		1,578			370		(A)	(A)
In-place leases (including lease origination costs and fair market value of leases)		6,543			4,517		5.1	3.7
Tenant relationships		—			1,645		N/A	5.3
Other assets		88			13		N/A	N/A
		87,402			36,546
Less: Mortgage debt assumed at fair value		(9,403	)		—		N/A	N/A
Less: Below-market leases		(1,982	)		(1,333	)	12.6	12.7
Less: Other liabilities assumed		(394	)		(144	)	N/A	N/A
Net assets acquired	$	75,623		$	35,069

(A)	Depreciated in accordance with the Company’s policy (Note 1).

The total consideration was paid in cash for these assets. Included in the Company’s consolidated statements of operations are $1.1 million, $0.6 million and $6.9 million in total revenues from the date of acquisition through December 31, 2019, 2018 and 2017, respectively, for properties acquired during each of the respective years.