Acquisitions (Tables)

3 Months Ended

Mar. 31, 2012

Acquisitions [Abstract]

Acquisition of the shopping centers

Land	$	9,120
Buildings		36,176
Tenant improvements		1,320
Intangible assets		4,067
		50,683
Less: Below-market leases ( A )		(3,283	)
Net assets acquired	$	47,400

(A) Below-market leases will be amortized over a weighted-average life of 20.0 years.

The costs related to the acquisition of this asset were expensed as incurred and included in other income (expense), net.

Intangible assets recorded in connection with the above acquisition included the following (in thousands) (Note 5):

Intangible assets recorded in connection with the acquisitions

			Weighted Average Amortization Period (in Years)
In-place leases (including lease origination costs and fair market value of leases) ( A )	$	2,820		5.4
Tenant relations		1,247		10.6
Total intangible assets acquired	$	4,067

(A) Includes above-market leases valued at $1.3 million.