Property Acquisitions (Tables)

6 Months Ended

Jun. 30, 2013

Property Acquisitions

Schedule of allocation of the purchase price of the assets acquired and liabilities assumed

The following summarizes our allocation of the purchase price of the assets acquired and liabilities assumed upon the closing of these acquisitions (in thousands):

	248-252 Bedford Avenue		131-137 Spring Street		635-641 Sixth Avenue		304 Park Avenue South		Stonehenge Properties
Land	$	$10,865	$	27,021	$	69,848	$	54,189	$	65,533
Building and building leasehold	44,035		105,342		104,474		75,619		128,457
Above market lease value	—		179		—		2,824		594
Acquired in-place leases	—		7,046		7,727		8,265		9,573
Other assets, net of other liabilities	—		—		—		—		2,190
Assets acquired	54,900		139,588		182,049		140,897		206,347
Fair value adjustment to mortgage note payable	—		—		—		—		—
Below market lease value	—		17,288		9,049		5,897		13,239
Liabilities assumed	—		17,288		9,049		5,897		13,239
Purchase price allocation	$	54,900	$	122,300	$	173,000	$	135,000	$	193,108
Net consideration funded by us at closing, excluding consideration financed by debt	$	21,782	$	122,300	$	173,000	$	135,000	$	78,121
Equity and/or debt investment held	$	—	$	—	$	—	$	—	$	—
Debt assumed	$	—	$	—	$	—	$	—	$	—