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Acquisitions | 3 Months Ended
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Mar. 31, 2024
Business Combinations [Abstract] |
Acquisitions | 2. Acquisitions During the three months ended March 31, 2024, the Company acquired the following convenience centers (in thousands):
Asset |  | Location |  | Date Acquired |  | Gross Purchase Price |  |
Grove at Harper's Preserve |  | Conroe, Texas |  | February 2024 |  | $ | 10,650 |  |
Shops at Gilbert Crossroads |  | Gilbert, Arizona |  | March 2024 |  |  | 8,460 |  |
|  |  |  |  |  | $ | 19,110 |  |
The fair value of the acquisitions was allocated as follows (in thousands):
|  |  |  | Weighted-Average Amortization Period (in Years)
Land | $ | 4,523 |  |  | N/A
Buildings |  | 11,760 |  |  | (A)
Tenant improvements |  | 573 |  |  | (A)
In-place leases (including lease origination costs and fair market value of leases) |  | 1,816 |  |  | 9.4
|  | 18,672 |  |  |
Less: Below-market leases |  | (381 | ) |  | 16.1
Less: Other liabilities assumed |  | (226 | ) |  | N/A
Net assets acquired | $ | 18,065 |  |  |
(A) Depreciated in accordance with the Company’s policy. The total consideration for the assets was paid in cash. Included in the Company’s consolidated statements of operations for the three months ended March 31, 2024, was $0.1 million in total revenues from the date of acquisition through March 31, 2024, for the properties acquired in 2024.

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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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