XML 27 R13.htm IDEA: XBRL DOCUMENT v3.22.0.1
Property Acquisitions and Dispositions
12 Months Ended
Dec. 31, 2021
Real Estate [Abstract]  
Property Acquisitions and Dispositions PROPERTY ACQUISITIONS AND DISPOSITIONS
Store Acquisition

The following table shows the Company’s acquisitions of stores for the years ended December 31, 2021 and 2020. The table excludes purchases of raw land and improvements made to existing assets.
Consideration PaidTotal
QuarterNumber of StoresTotalCash PaidLoan AssumedFinance Lease LiabilityInvestments in Real Estate VenturesNet Liabilities/ (Assets) AssumedValue of OP Units IssuedReal estate assets
Total 202174$1,344,575 $1,011,483 $20,028 $26,998 $5,383 $4,293 $276,390 $1,344,575 
Total 202023$296,725 $254,111 $— $41,491 $— $1,123 $— $296,725 

(1)Store acquisitions during the year ended December 31, 2021 included the acquisition of five stores previously held in joint venture where the Company held a noncontrolling interest. The Company purchased its partner's equity interest in these joint ventures, and the properties owned by the joint ventures became wholly owned by the Company. In addition, store acquisitions include the acquisition of two stores that were subject to finance land leases. The right-of-use assets associated with these leases are included in real estate assets above.
(2)Store acquisitions during the year ended December 31, 2020 include the acquisition of three stores that were subject to finance land leases. The right-of-use assets associated with these leases are included in real estate assets above.
Store Dispositions

On December 16, 2021 the Company sold 16 stores that had been classified as held for sale for total cash consideration of $200,292. The Company recorded a gain of $73,854.

On March 1, 2021 the Company sold 16 stores that had been classified as held for sale to a newly established unconsolidated joint venture. The Company received $132,759 and maintained a 55% interest in the new joint venture valued at $33,878. The Company recognized a gain of $63,477 related to the sale of these properties.

On December 18, 2020, the Company sold four stores located in Florida that had been classified as held for sale for a total sale price of $46,592. The Company recorded a gain on the sale of $19,600.

On April 11, 2019, the Company sold a store located in New York that had been classified as held for sale for $11,272 in cash. The Company recorded a gain on the sale of $1,205.