Real Estate Investments and Equity Method Investments (Tables)

12 Months Ended

Dec. 31, 2018

Real Estate [Abstract]

Schedule of real estate investments

The Company’s real estate investments comprised the following as of December 31, 2018 and 2017 (in thousands):

	December 31, 2018
	Income producing property		Held for development		Construction in progress		Total
Land	$	192,677	$	2,994	$	17,961	$	213,632
Land improvements	53,521		—		—		53,521
Buildings and improvements	791,719		—		—		791,719
Development and construction costs	—		—		117,714		117,714
Real estate investments	$	1,037,917	$	2,994	$	135,675	$	1,176,586

	December 31, 2017
	Income producing property		Held for development		Construction in progress		Total
Land	$	175,885	$	680	$	21,212	$	197,777
Land improvements	44,681		—		—		44,681
Buildings and improvements	690,120		—		—		690,120
Development and construction costs	—		—		61,859		61,859
Real estate investments	$	910,686	$	680	$	83,071	$	994,437

Schedule of the purchase price allocation

The following table summarizes the purchase price allocation (including acquisition costs) based on relative fair value of the assets acquired and liabilities assumed for the three operating properties purchased during the year ended December 31, 2018 (in thousands):

	Indian Lakes Crossing			Parkway Centre			Lexington Square
Land	$	10,926		$	1,372		$	3,036
Site improvements	531			696			7,396
Building and improvements	1,913			7,168			10,387
In-place leases	1,648			2,346			4,113
Above-market leases	11			—			89
Below-market leases	(175		)	(10		)	(447		)
Net assets acquired	$	14,854		$	11,572		$	24,574

The following table summarizes the purchase price allocation, including acquisition costs, for this property (in thousands):

Land	$	5,550
Site improvements	232
Building and improvements	6,977
In-place leases	1,382
Above-market leases	327
Below-market leases	(50		)
Net assets acquired	$	14,418

Summary of estimated fair values of assets acquired and liabilities assumed

The following table summarizes the purchase price allocation (including acquisition costs for Columbus Village II and Renaissance Square) of the assets acquired and liabilities assumed during the year ended December 31, 2016 (in thousands):

	Retail Portfolio			Southgate Square			Southshore Shops			Columbus Village II			Renaissance Square			Total
Land	$	66,260		$	8,890		$	1,770		$	14,536		$	6,730		$	98,186
Site improvements	3,870			2,140			490			939			303			7,742
Building and improvements	88,820			23,810			6,019			9,983			8,137			136,769
In-place leases	20,630			5,990			1,140			2,225			2,008			31,993
Above-market leases	1,960			100			120			—			70			2,250
Below-market leases	(11,040		)	(1,400		)	(190		)	(939		)	(10		)	(13,579		)
Net assets acquired	$	170,500		$	39,530		$	9,349		$	26,744		$	17,238		$	263,361