Real Estate Investments

Acquisitions

The following tables detail the shopping centers acquired or land acquired for development (in thousands):



Year ended December 31, 2014
Date Purchased	Property Name	City/State	Property Type	Purchase Price		Debt Assumed, Net of Premiums	Intangible Assets	Intangible Liabilities
1/31/2014	Persimmon Place	Dublin, CA	Development	$	14,200	—	—	—
2/14/2014	Shops at Mira Vista	Austin, TX	Operating	22,500		319	2,329	291
3/7/2014	Fairfield Portfolio ⁽¹⁾	Fairfield, CT	Operating	149,344		77,730	12,650	5,601
6/2/2014	Willow Oaks Crossing	Concord, NC	Development	3,342		—	—	—
7/15/2014	Clybourn Commons	Chicago, IL	Operating	19,000		—	1,686	3,298
9/10/2014	Belmont Chase	Ashburn, VA	Development	4,300		—	—	—
9/19/2014	CityLine Market	Dallas, TX	Development	4,913		—	—	—
10/24/2014	East San Marco ⁽²⁾	Jacksonville, FL	Development	5,223		—	—	—
12/4/2014	The Village at La Floresta	Brea, CA	Development	6,750		—	—	—
12/16/2014	Indian Springs ⁽³⁾	Houston, TX	Operating	53,156		25,138	3,867	1,612
Total property acquisitions				$	282,728	103,187	20,532	10,802



Year ended December 31, 2013
Date Purchased	Property Name	City/State	Property Type	Purchase Price		Debt Assumed, Net of Premiums	Intangible Assets	Intangible Liabilities
1/16/2013	Shops on Main	Schererville, IN	Development	$	85	—	—	—
5/16/2013	Juanita Tate Marketplace	Los Angeles, CA	Development	1,100		—	—	—
5/30/2013	Preston Oaks	Dallas, TX	Operating	27,000		—	3,396	7,597
7/22/2013	Fontainebleau Square	Miami, FL	Development	17,092		—	—	—
10/7/2013	Glen Gate	Glenview, IL	Development	14,950		—	—	—
10/16/2013	Fellsway Plaza	Medford, MA	Operating	42,500		—	5,139	963
10/24/2013	Shoppes on Riverside	Jacksonville, FL	Development	3,500		—	—	—
12/27/2013	Holly Park	Raleigh, NC	Operating	33,900		—	3,146	1,526
Total property acquisitions				$	140,127	—	11,681	10,086

⁽¹⁾ On March 7, 2014, the Company acquired an 80% controlling interest in the Fairfield Portfolio. As a result of consolidation, the Company recorded the non-controlling interest of approximately $15.4 million at fair value. The portfolio consists of three operating properties located in Fairfield, CT.

⁽²⁾ On October 24, 2014, Regency acquired the remaining 50% interest and gained control of this previously unconsolidated investment in real estate partnership that owns land for development. The $5.2 million purchase price includes the consideration paid to purchase the other partners interest as well as Regency's carrying value in the partnership.

⁽³⁾On December 16, 2014, Regency acquired the remaining 50% interest and gained control of this previously unconsolidated investment in real estate partnership that owns a single operating property. As the operating property constitutes a business, acquisition of control was accounted for as a step acquisition and the net assets acquired were recognized at fair value. A gain of $18.3 million was recognized upon remeasurement as the difference between the fair value, of $14.1 million, and the carrying value of the Company's previously held equity interest. The fair value was measured based on an income approach, using rental growth rate of 3.0%, a discount rate of 7.0%, and a terminal cap rate of 6.1%.

In addition, on March 20, 2013, the Company entered into a liquidation agreement with Macquarie Countrywide (US) No. 2, LLC ("CQR") to redeem its 24.95% interest through dissolution of the Macquarie CountryWide-Regency III, LLC (MCWR III) co-investment partnership through a DIK. The assets of the partnership were distributed as 100% ownership interests to CQR and Regency after a selection process, as provided for by the agreement. Regency selected one asset, Hilltop Village, which was recorded at the carrying value of the Company's equity investment in MCWR III, net of deferred gain, on the date of dissolution of $7.6 million, including a $7.5 million mortgage assumed.

The real estate operations acquired are not considered material to Company, individually or in the aggregate.