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Acquisitions (Tables)
6 Months Ended
Jun. 30, 2017
Business Combinations [Abstract]  
Schedule of Acquisition Cost of Shopping Centers

This acquisition was accounted for as an asset acquisition and the fair value was allocated as follows (in thousands):

 

 

 

 

 

Weighted-Average

Amortization Period

(in Years)

 

Land

$

23,588

 

 

N/A

 

Buildings

 

35,659

 

 

(A)

 

Tenant improvements

 

8,565

 

 

(A)

 

In-place leases (including lease origination costs and fair market value of leases)

 

7,051

 

 

 

16.0

 

Tenant relations

 

6,934

 

 

 

16.3

 

Other assets

 

419

 

 

N/A

 

 

 

82,216

 

 

 

 

 

Less: Below-market leases

 

(1,872

)

 

 

20.0

 

Less: Other liabilities assumed

 

(581

)

 

N/A

 

Net assets acquired

$

79,763

 

 

 

 

 

(A)

Depreciated in accordance with the Company’s policy.