ACQUISITION AND DISPOSITION OF REAL ESTATE AND PROPERTIES HELD FOR SALE

Acquisitions

During 2015, the Company acquired the following properties through its Core Portfolio and Fund IV as follows:



(dollars in thousands)
Property	GLA	Percent Owned		Type	Month of Acquisition	Purchase Price		Location	Assumption of Debt
Core Portfolio:
City Center	205,000	100	%	Urban Retail Center	March	$	155,000	San Fransisco, CA	$	—
163 Highland Avenue	40,500	100	%	Suburban Shopping Center	March	24,000		Needham, MA	9,765
Total Core Portfolio	245,500					$	179,000		$	9,765

Fund IV:
1035 Third Avenue (1)	53,294	100	%	Street Retail	January	$	51,036	New York, NY	$	—
Total Fund IV	53,294					$	51,036		$	—

Total	298,794					$	230,036		$	9,765

Note:

(1) GLA includes a portion of office space and a below-grade operator controlled parking garage.

The Company expensed $0.6 million of acquisition costs for the three months ended March 31, 2015, related to the Core Portfolio and $1.6 million of acquisition costs for the three months ended March 31, 2015, related to Fund IV.

Purchase Price Allocations

The above acquisitions have been accounted for as business combinations. The purchase prices were allocated to the acquired assets and assumed liabilities based on their estimated fair values at the dates of acquisition. The preliminary measurements of fair value reflected below are subject to change. The Company expects to finalize the valuations and complete the purchase price allocations within one year from the dates of acquisition.

The following table summarizes the Company's preliminary allocations of the purchase prices of assets acquired and liabilities assumed during 2015 which have yet to be finalized:



(dollars in thousands)	Preliminary Purchase Price Allocations
Land	$	57,509
Buildings and improvements	172,527
Above-below market debt assumed (included in Mortgage and other notes payable)	(9,765		)
Total consideration	$	220,271

4. ACQUISITION AND DISPOSITION OF REAL ESTATE AND PROPERTIES HELD FOR SALE(continued)

Acquisitions (continued)

During 2014, the Company acquired properties and recorded the preliminary allocations of the purchase prices to the assets acquired and liabilities assumed based on provisional measurements of fair value. During 2015, the Company finalized the allocations of the purchase prices and made certain measurement period adjustments. The following table summarizes the preliminary allocations of the purchase prices of these properties as recorded as of December 31, 2014, and the finalized allocations as adjusted as of March 31, 2015:



(dollars in thousands)	Purchase Price Allocations as Originally Reported		Adjustments			Finalized Purchase Price Allocations
Land	$	22,625	$	10,765		$	33,390
Buildings and improvements	67,875		(12,626		)	55,249
Acquisition-related intangible assets (in Acquired lease intangibles, net)	—		4,705			4,705
Acquisition-related intangible liabilities (in Acquired lease intangibles, net)	—		(2,844		)	(2,844		)
Total consideration	$	90,500	$	—		$	90,500

Dispositions

During 2015, the Company disposed of the following property:



(dollars in thousands)
Dispositions	GLA	Sale Price		Gain on Sale		Month Sold	Owner
Lincoln Park Centre	61,761	$	64,000	$	27,143	January	Fund III

Properties Held For Sale

At March 31, 2015, no assets were held for sale. At December 31, 2014, The Company had two properties classified as held-for-sale. The assets and liabilities relating to those properties are summarized as follows:



(dollars in thousands)	December 31, 2014
Assets of properties held for sale	$	56,073
Liabilities of properties held for sale	$	25,500