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Acquisitions | 9 Months Ended
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Sep. 30, 2023
Business Combinations [Abstract] |
Acquisitions | 3. Acquisitions During the nine months ended September 30, 2023, the Company acquired the following convenience centers (in millions):
Asset |  | Location |  | Date Acquired |  | Purchase Price |
Parker Keystone |  | Denver, Colorado |  | January 2023 |  | $ | 11.0 |
Foxtail Center |  | Baltimore, Maryland |  | January 2023 |  |  | 15.1 |
Barrett Corners |  | Atlanta, Georgia |  | April 2023 |  |  | 15.6 |
Alpha Soda Center |  | Atlanta, Georgia |  | May 2023 |  |  | 9.4 |
Briarcroft Center |  | Houston, Texas |  | May 2023 |  |  | 23.5 |
Towne Crossing Shops |  | Richmond, Virginia |  | July 2023 |  |  | 4.2 |
Oaks at Slaughter |  | Austin, Texas |  | August 2023 |  |  | 14.1 |
Marketplace at 249 |  | Houston, Texas |  | September 2023 |  |  | 9.8 |
The fair value of the acquisitions above was allocated as follows (in thousands):
|  |  |  | Weighted-Average Amortization Period (in Years)
Land | $ | 35,608 |  |  | N/A
Buildings |  | 58,388 |  |  | (A)
Tenant improvements |  | 2,502 |  |  | (A)
In-place leases (including lease origination costs and fair market value of leases) |  | 10,425 |  |  | 7.1
|  | 106,923 |  |  |
Less: Below-market leases |  | (4,181 | ) |  | 14.6
Less: Other liabilities assumed |  | (647 | ) |  | N/A
Net assets acquired | $ | 102,095 |  |  |
(A) Depreciated in accordance with the Company’s policy. The total consideration for these assets was paid in cash. Included in the Company’s consolidated statements of operations for the three and nine months ended September 30, 2023, was $1.6 million and $3.4 million, respectively, in total revenues from the date of acquisition through September 30, 2023, for the properties acquired in 2023.

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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479907/805-20-50-5 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//805/tableOfContent + Details
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