Real Estate (Tables)

9 Months Ended

Sep. 30, 2021

Real Estate [Abstract]

Schedule of property acquired

The Company accounted for this transaction as an acquisition of an asset, and the following table summarizes the allocation of the purchase price of this property (in thousands):

	725 Ponce
Tangible assets:
Operating properties	$	292,946
Tangible assets	292,946
Intangible assets:
In-place leases	12,788
Above market leases	1,770
Intangible assets	14,558
Intangible liabilities:
Above market leases	(6,739)
Intangible liabilities	(6,739)
Total net assets acquired	$	300,765

Schedule of assets and liabilities of properties held for sale

The Company's Burnett Plaza property in Fort Worth was classified as held for sale as of December 31, 2020 as the result of the Company accepting an offer for the sale of the property in the fourth quarter of 2020. The major classes of assets and liabilities of those properties held for sale were as follows (in thousands):

	December 31, 2020
Real estate assets and other assets held for sale
Operating property, net of accumulated depreciation of $8,123	$	106,864
Notes and accounts receivable	439
Deferred rents receivable	2,480
Intangible assets, net of accumulated amortization of $6,065	15,830
Other assets	133
Total real estate assets and other assets held for sale	$	125,746
Liabilities of real estate assets held for sale
Accounts payable and accrued expenses	$	7,399
Deferred income	44
Intangible liabilities, net of accumulated amortization of $1,205	3,014
Other liabilities	2,149
Total liabilities of real estate assets held for sale	$	12,606