Investments in Real Estate

9 Months Ended

Sep. 30, 2015

Investments [Abstract]

Investments in Real Estate

For the nine months ended September 30, 2015, our investments had an aggregate purchase price of $254.6 million. We incurred $1.2 million of costs attributable to these investments, which were recorded in acquisition-related expenses in the accompanying condensed consolidated statements of operations.

Since the investments were determined to be individually not significant, but significant on a collective basis, the allocations for the 2015 investments are set forth below in the aggregate (in thousands):

	September 30, 2015
Land	$	13,286
Building and improvements	229,386
Below market leasehold interests	2,698
Above market leases	1,254
In place leases	22,414
Below market leases	(8,206		)
Above market leasehold interests	(7,725		)
Net assets acquired	253,107
Other, net	1,503
Aggregate purchase price	$	254,610

The acquired intangible assets and liabilities referenced above had weighted average lives of 26.8 years and 52.4 years, respectively.

The investments during the nine months ended September 30, 2014 were determined to be individually not significant, but significant on a collective basis. The allocations for these investments are set forth below in the aggregate (in thousands):

	September 30, 2014
Land	$	70,609
Building and improvements	227,458
Below market leasehold interests	98
Above market leases	1,708
In place leases	22,233
Below market leases	(953		)
Above market debt, net	(2,664		)
Net assets acquired	318,489
Other, net	(939		)
Aggregate purchase price	$	317,550

The acquired intangible assets and liabilities referenced above had weighted average lives of 9.1 years and 8.5 years, respectively.