Investments in Real Estate

9 Months Ended

Sep. 30, 2020

Investments [Abstract]

Investments in Real Estate

Investments in Real Estate

For the nine months ended September 30, 2020, our investments had an aggregate purchase price of $52.9 million. As part of these investments, we incurred approximately $0.3 million of capitalized costs. The allocations for these investments, in which we own a controlling financial interest, are set forth below in the aggregate for the nine months ended September 30, 2020 and 2019, respectively (in thousands):

	Nine Months Ended September 30,
	2020		2019
Land	$	2,817	$	33,408
Building and improvements	45,610		174,708
In place leases	4,651		18,532
Below market leases	(762)		(3,386)
Above market leases	479		2,046
Below market leasehold interests	(242)		—
Net real estate assets acquired	52,553		225,308
Other, net	334		4,543
Aggregate purchase price	$	52,887	$	229,851

The acquired intangible assets and liabilities referenced above had weighted average lives of the following terms for the nine months ended September 30, 2020 and 2019, respectively (in years):

	Nine Months Ended September 30,
	2020	2019
Acquired intangible assets	5.1	5.6
Acquired intangible liabilities	3.4	7.7