Properties, Net (Tables)

3 Months Ended

Mar. 31, 2024

Real Estate [Abstract]

Schedule of operating properties, net

Operating properties, net consisted of the following (in thousands): 

	March 31, 2024		December 31, 2023
Land	$	488,371	$	482,964
Buildings and improvements	4,218,702		4,164,004
Less: Accumulated depreciation	(1,434,621)		(1,400,162)
Operating properties, net	$	3,272,452	$	3,246,806

Schedule of allocation of acquisition costs

The table below sets forth the allocation of the purchase price and transaction costs associated with this acquisition (in thousands):

Land, operating properties	$	5,428
Building and improvements	2,534
Intangible assets on real estate acquisitions	7,248
Total acquisition cost	$	15,210

Schedule of intangible assets acquired

Intangible assets recorded in connection with this acquisition included the following (dollars in thousands):

			Weighted Average Amortization Period  (in Years)
Tenant relationship value	$	3,752	12.4
In-place lease value	2,229		2.4
Above-market leases	1,267		2.4
	$	7,248	7.6