Acquisitions (Tables)

9 Months Ended

Sep. 30, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of Purchase Price Allocation

The purchase price of 1180 Peachtree Street, inclusive of approximately $2.2 million of closing costs, was allocated as follows:

	1180 Peachtree Street
Land	$	56,932
Building and improvements	336,219
Intangible lease assets (1)	53,426
Lease acquisition costs, net of tenant credits received from seller (1)	(4,071)
Intangible lease origination costs (1)	56,748
Intangible lease liabilities (1)	(31,355)
Total allocated purchase price	$	467,899
Assumption of secured mortgage note	(197,000)
Net cash paid upon acquisition	$	270,899

(1)Amortization of in-place lease intangibles and lease acquisition costs are recognized using the straight-line method over approximately 7.4 years, the average remaining life of in-place leases.