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Acquisitions | 9 Months Ended
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Sep. 30, 2024
Business Combinations [Abstract] |
Acquisitions | 2. Acquisitions During the nine months ended September 30, 2024, the Company acquired the following convenience centers and land (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 |  |
Collection at Brandon Boulevard-Ground Lease(A) |  | Tampa, Florida |  | April 2024 |  |  | 1,000 |  |
Wilmette Center |  | Wilmette, Illinois |  | May 2024 |  |  | 2,850 |  |
Sunrise Plaza |  | Vero Beach, Florida |  | May 2024 |  |  | 5,500 |  |
Meadowmont Village(B) |  | Chapel Hill, North Carolina |  | May 2024 |  |  | 44,250 |  |
Red Mountain Corner |  | Phoenix, Arizona |  | June 2024 |  |  | 2,100 |  |
Roswell Market Center |  | Roswell, Georgia |  | June 2024 |  |  | 17,750 |  |
Crocker Commons |  | Westlake, Ohio |  | July 2024 |  |  | 18,500 |  |
Maple Corner |  | Henderson, Tennessee |  | July 2024 |  |  | 8,250 |  |
Village Plaza |  | Houston, Texas |  | August 2024 |  |  | 31,000 |  |
Brookhaven Station |  | Atlanta, Georgia |  | August 2024 |  |  | 30,200 |  |
Loma Alta Station |  | Oceanside, California |  | September 2024 |  |  | 12,350 |  |
Nine Mile Corner |  | Erie, Colorado |  | September 2024 |  |  | 10,880 |  |
Crossroads Marketplace |  | Chino Hills, California |  | September 2024 |  |  | 34,150 |  |
|  |  |  |  |  | $ | 237,890 |  |
(A) Acquired the fee interest in a land parcel at this center. (B) Acquired from the DDRM Properties Joint Venture (Note 3). Meadowmont Village, consisting of 62,116 square feet of GLA was included in the spin-off of Curbline. The fair value of the acquisitions was allocated as follows (in thousands):
|  |  |  | Weighted-Average Amortization Period (in Years)
Land | $ | 104,632 |  |  | N/A
Buildings |  | 113,110 |  |  | (A)
Tenant improvements |  | 6,392 |  |  | (A)
In-place leases (including lease origination costs and fair market value of leases) |  | 25,704 |  |  | 7.1
Other assets assumed |  | 98 |  |  | N/A
|  | 249,936 |  |  |
Less: Below-market leases |  | (12,912 | ) |  | 15.7
Less: Other liabilities assumed |  | (2,130 | ) |  | N/A
Net assets acquired | $ | 234,894 |  |  |
(A) Depreciated in accordance with the Company’s policy.
| 2024 |  |
Consideration: |  |  |
Cash | $ | 226,079 |  |
Gain on Sale and Change in Control of Interests |  | 2,669 |  |
Carrying value of previously held equity interest (Note 3) |  | 6,146 |  |
Total consideration | $ | 234,894 |  |
Included in the Company’s consolidated statements of operations for the three and nine months ended September 30, 2024, was $3.4 million and $4.5 million, respectively, in total revenues from the date of acquisition through September 30, 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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