Real Estate (Tables)

6 Months Ended

Jun. 30, 2021

During the six months ended June 30, 2021, we acquired the following properties:


Date Acquired	Property	City/State	Gross Leasable Area (GLA)	Joint Venture Interest (1)		Gross Value
			(in square feet)			(in millions)
April 30, 2021	Chesterbrook	McLean, Virginia	90,000	80	%	$	32.1	(2)
June 1, 2021	Grossmont Center	La Mesa, California	933,000	60	%	$	175.0	(3)
June 14, 2021	Camelback Colonnade	Phoenix, Arizona	642,000	98	%	$	162.5	(4)
June 14, 2021	Hilton Village	Scottsdale, Arizona	93,000	98	%	$	37.5	(5)

(1)These acquisitions were completed through newly formed joint ventures, for which we own the controlling interest listed above, and therefore, these properties are consolidated in our financial statements.

(2)Approximately $1.9 million and $0.6 million of net assets acquired were allocated to other assets for "acquired lease costs" and "above market leases," respectively, and $8.0 million of net assets acquired were allocated to other liabilities for "below market leases."

(3)Approximately $12.3 million and $2.6 million of net assets acquired were allocated to other assets for "acquired lease costs" and "above market leases," respectively, and $14.7 million of net assets acquired were allocated to other liabilities for "below market leases."

(4)Approximately $11.6 million of net assets acquired were allocated to other assets for "acquired lease costs" and $28.3 million were allocated to other liabilities for "below market leases."

(5)The land is controlled under a long-term ground lease that expires on December 31, 2076, for which we have recorded a $10.4 million "operating lease right of use asset" (net of a $1.3 million above market liability) and an $11.6 million "operating lease liability." Approximately $2.7 million and $1.1 million of net assets acquired were allocated to other assets for "acquired lease costs" and "above market leases," respectively, and $3.6 million were allocated to other liabilities for "below market leases."