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Real Estate Investments
12 Months Ended
Dec. 31, 2022
Real Estate [Abstract]  
Real Estate Investments
2.
Real Estate Investments

Acquisitions

The following tables detail consolidated shopping centers acquired or land acquired for development or redevelopment for the periods set forth below:

 

(in thousands)

 

December 31, 2022

 

Date
Purchased

 

Property Name

 

City/State

 

Property
Type

 

Regency Ownership

 

Purchase
Price
(1)

 

 

Debt
Assumed,
Net of
Premiums
(1)

 

 

Intangible
Assets
 (1)

 

 

Intangible
Liabilities
(1)

 

3/1/22

 

Glenwood Green

 

Old Bridge, NJ

 

Development

 

70%

 

$

11,000

 

 

 

 

 

 

 

 

 

 

3/31/22

 

Island Village

 

Bainbridge Island, WA

 

Operating

 

100%

 

 

30,650

 

 

 

 

 

 

2,900

 

 

 

6,839

 

4/1/22

 

Apple Valley (2)

 

Apple Valley, MN

 

Operating

 

100%

 

 

34,070

 

 

 

 

 

 

4,773

 

 

 

490

 

4/1/22

 

Cedar Commons (2)

 

Minneapolis, MN

 

Operating

 

100%

 

 

29,330

 

 

 

 

 

 

4,369

 

 

 

58

 

4/1/22

 

Corral Hollow (2)

 

Tracy, CA

 

Operating

 

100%

 

 

40,600

 

 

 

 

 

 

3,410

 

 

 

74

 

4/1/22

 

Shops at the Columbia (2)

 

Washington, DC

 

Operating

 

100%

 

 

14,000

 

 

 

 

 

 

889

 

 

 

181

 

5/6/22

 

Baederwood Shoppes

 

Jenkintown, PA

 

Operating

 

80%

 

 

51,603

 

 

 

22,779

 

 

 

5,796

 

 

 

1,062

 

10/12/22

 

East Meadow Plaza

 

East Meadow, NY

 

Operating

 

100%

 

 

30,000

 

 

 

 

 

 

3,295

 

 

 

10,867

 

Total property acquisitions

 

 

 

 

 

 

$

241,253

 

 

 

22,779

 

 

 

25,432

 

 

 

19,571

 

(1)
Amounts reflected for purchase price and allocation are reflected at 100%.
(2)
These properties were part of the four-property portfolio purchased from an existing unconsolidated real estate partnership, RegCal, LLC, in which the company held a 25% ownership interest. The basis allocated to Real estate assets was $93.2 million on a combined basis, including the Company's carryover basis related to its 25% previously owned equity interest in the partnership.

In addition to the acquisitions listed above, the Company acquired, for $9.0 million, the remaining 50% ownership interest from its partner in Kroger New Albany Center, an existing consolidated property.

 

(in thousands)

 

December 31, 2021

 

Date
Purchased

 

Property Name

 

City/State

 

Property
Type

 

Regency Ownership

 

Purchase
Price
(1)

 

 

Debt
Assumed,
Net of
Premiums
(1)

 

 

Intangible
Assets
 (1)

 

 

Intangible
Liabilities
(1)

 

7/30/21

 

Willa Springs (2)

 

Winter Springs, FL

 

Operating

 

100%

 

$

34,500

 

 

 

17,682

 

 

 

1,562

 

 

 

643

 

8/1/21

 

Dunwoody Hall (2)

 

Dunwoody, GA

 

Operating

 

100%

 

 

32,000

 

 

 

14,612

 

 

 

2,255

 

 

 

973

 

8/1/21

 

Alden Bridge (2)

 

Woodlands, TX

 

Operating

 

100%

 

 

43,000

 

 

 

27,529

 

 

 

3,198

 

 

 

2,308

 

8/1/21

 

Hasley Canyon Village (2)

 

Castaic, CA

 

Operating

 

100%

 

 

31,000

 

 

 

16,941

 

 

 

2,037

 

 

 

 

8/1/21

 

Shiloh Springs (2)

 

Garland, TX

 

Operating

 

100%

 

 

19,500

 

 

 

 

 

 

1,825

 

 

 

1,079

 

8/1/21

 

Bethany Park Place (2)

 

Allen, TX

 

Operating

 

100%

 

 

18,000

 

 

 

10,800

 

 

 

996

 

 

 

1,732

 

8/1/21

 

Blossom Valley (2)

 

Mountain View, CA

 

Operating

 

100%

 

 

44,000

 

 

 

23,611

 

 

 

2,895

 

 

 

732

 

11/18/21

 

Blakeney Shopping Center

 

Charlotte, NC

 

Operating

 

100%

 

 

181,000

 

 

 

 

 

 

14,096

 

 

 

4,431

 

12/30/21

 

Valley Stream

 

Long Island, NY

 

Operating

 

100%

 

 

48,000

 

 

 

 

 

 

21,505

 

 

 

1,675

 

12/30/21

 

East Meadow

 

Long Island, NY

 

Operating

 

100%

 

 

38,000

 

 

 

 

 

 

6,521

 

 

 

1,197

 

12/30/21

 

Wading River

 

Long Island, NY

 

Operating

 

100%

 

 

35,000

 

 

 

 

 

 

4,998

 

 

 

1,469

 

12/30/21

 

Eastport

 

Long Island, NY

 

Operating

 

100%

 

 

9,000

 

 

 

 

 

 

1,366

 

 

 

498

 

Total property acquisitions

 

 

 

 

 

 

 

$

533,000

 

 

 

111,175

 

 

 

63,254

 

 

 

16,737

 

(1)
Amounts reflected for purchase price and allocation are reflected at 100%.
(2)
These properties were part of the seven-property portfolio purchased from an existing unconsolidated real estate partnership, US Regency Retail I, LLC. The basis allocated to Real estate assets was $192.9 million, including the Company's carryover basis related to its 20% previously owned equity interest in the partnership.