STORE ACQUISITIONS

The following table shows the Company’s acquisitions of operating stores for the six months ended June 30, 2017. The table excludes purchases of raw land or improvements made to existing assets.



					Consideration Paid												Total
Property Location	Number of Stores	Date of Acquisition	Total		Cash Paid		Loan Assumed		Non- controlling interests		Net Liabilities/(Assets) Assumed			Value of OP Units Issued		Number of OP Units Issued	Real estate assets
Florida	1	6/12/2017	$	11,100	$	4,270	$	—	$	—	$	20		$	6,810	272,400	$	11,100
Florida	1	4/25/2017	7,377		7,400		—		—		(23		)	—		—	7,377
Pennsylvania	1	4/11/2017	16,164		4,938		9,463		1,827		(64		)	—		—	16,164
Illinois	1	2/1/2017	9,028		9,020		—		—		8			—		—	9,028
Georgia	1	1/6/2017	16,528		16,521		—		—		7			—		—	16,528
2017 Totals	5		$	60,197	$	42,149	$	9,463	$	1,827	$	(52	)	$	6,810	272,400	$	60,197

Store Dispositions

On April 20, 2016, the Company closed on the sale of seven operating stores located in Ohio and Indiana that had been classified as held for sale for $17,555 in cash. The Company recognized a gain of $11,265 related to this disposition.

On April 1, 2016, the Company disposed of a single store in Texas in exchange for 85,452 of our OP Units valued at $7,689. The Operating Partnership has canceled the OP Units received in this disposition. The Company recognized a gain of $93 related to this disposition.

Losses on Earnout from Prior Acquisition

In December 2014, the Company acquired a portfolio of five stores located in New Jersey and Virginia. As part of this acquisition, the Company agreed to make an additional cash payment to the sellers if the acquired stores exceeded a specified amount of net operating income for the years ending December 31, 2015 and 2016. At the acquisition date, the Company recorded an estimated liability related to this earnout provision. The operating income of these stores during the earnout period was higher than expected, resulting in an increase in the estimate of the amount due to the sellers of $1,544, which was recorded as a loss and included in gain (loss) on real estate transactions, earnout from prior acquisition and impairment of real estate in the Company’s condensed consolidated statements of operations for the six months ended June 30, 2016.