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Acquisitions (Tables) | 6 Months Ended
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Jun. 30, 2021
Business Combinations [Abstract] |
Schedule of Company Acquired Shopping Centers | During the six months ended June 30, 2021, the Company acquired the following shopping centers (in millions):
Asset |  | Location |  | Date Acquired |  | Purchase Price |  |  | Face Value of Mortgage Debt Assumed |
Shoppes at Addison Place |  | Delray Beach, Florida |  | May 2021 |  | $ | 40.0 |  |  | $ | 17.9 |
Emmet Street Station |  | Charlottesville, Virginia |  | May 2021 |  |  | 8.8 |  |  |  | — |
Schedule of Acquisition Cost of Shopping Centers | The fair value of the acquisitions was allocated as follows (in thousands):
|  |  |  |  | Weighted-Average Amortization Period (in Years)
Land | $ | 14,845 |  |  | N/A
Buildings |  | 31,941 |  |  | (A)
Tenant improvements |  | 512 |  |  | (A)
In-place leases (including lease origination costs and fair market value of leases) |  | 3,361 |  |  | 5.4
Other assets assumed |  | 37 |  |  | N/A
|  | 50,696 |  |  |
Less: Mortgage debt assumed at fair value |  | (17,944 | ) |  | N/A
Less: Below-market leases |  | (1,279 | ) |  | 14.9
Net assets acquired | $ | 31,473 |  |  |
(A) | Depreciated in accordance with the Company’s policy.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121647850&loc=d3e4845-128472 + Details
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