Schedule of Company Acquired Shopping Centers |
During the nine months ended September 30, 2024, the Company acquired the following convenience centers and land (in thousands):
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Asset |
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Location |
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Date Acquired |
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Gross Purchase Price |
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Grove at Harper's Preserve |
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Conroe, Texas |
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February 2024 |
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$ |
10,650 |
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Shops at Gilbert Crossroads |
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Gilbert, Arizona |
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March 2024 |
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8,460 |
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Collection at Brandon Boulevard-Ground Lease(A) |
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Tampa, Florida |
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April 2024 |
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|
1,000 |
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Wilmette Center |
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Wilmette, Illinois |
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May 2024 |
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2,850 |
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Sunrise Plaza |
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Vero Beach, Florida |
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May 2024 |
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5,500 |
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Meadowmont Village(B) |
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Chapel Hill, North Carolina |
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May 2024 |
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44,250 |
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Red Mountain Corner |
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Phoenix, Arizona |
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June 2024 |
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2,100 |
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Roswell Market Center |
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Roswell, Georgia |
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June 2024 |
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17,750 |
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Crocker Commons |
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Westlake, Ohio |
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July 2024 |
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18,500 |
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Maple Corner |
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Henderson, Tennessee |
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July 2024 |
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8,250 |
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Village Plaza |
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Houston, Texas |
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August 2024 |
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31,000 |
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Brookhaven Station |
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Atlanta, Georgia |
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August 2024 |
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30,200 |
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Loma Alta Station |
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Oceanside, California |
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September 2024 |
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12,350 |
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Nine Mile Corner |
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Erie, Colorado |
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September 2024 |
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10,880 |
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Crossroads Marketplace |
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Chino Hills, California |
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September 2024 |
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34,150 |
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$ |
237,890 |
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(A)Acquired the fee interest in a land parcel at this center. (B)Acquired from the DDRM Properties Joint Venture (Note 3). Meadowmont Village, consisting of 62,116 square feet of GLA was included in the spin-off of Curbline.
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Schedule of Acquisition Cost of Shopping Centers |
The fair value of the acquisitions was allocated as follows (in thousands):
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Weighted-Average Amortization Period (in Years) |
Land |
$ |
104,632 |
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N/A |
Buildings |
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113,110 |
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(A) |
Tenant improvements |
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6,392 |
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(A) |
In-place leases (including lease origination costs and fair market value of leases) |
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25,704 |
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|
7.1 |
Other assets assumed |
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98 |
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N/A |
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249,936 |
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Less: Below-market leases |
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(12,912 |
) |
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15.7 |
Less: Other liabilities assumed |
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(2,130 |
) |
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N/A |
Net assets acquired |
$ |
234,894 |
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(A)Depreciated in accordance with the Company’s policy.
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