Real Estate Investments (Tables)

9 Months Ended

Sep. 30, 2015

Summary of Consolidated and Combined Results of Operations on Pro Forma Basis

The following table summarizes the consolidated results of operations of the Company on a pro forma basis, as if each of these properties had been acquired on January 1, 2014 (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2015		2014		2015		2014
	(Unaudited)
Rental revenues	$	21,781	$	18,838	$	63,392	$	53,601
Net income		4,657		2,999		24,158		7,322

Stone House Square and Mary Land and Perry Hall Market Place [Member]

Summary of Fair Values of Assets Acquired and Liabilities Assumed

The following table summarizes the acquisition date fair values of the assets acquired and liabilities assumed during the nine months ended September 30, 2015 (in thousands):

Land	$	29,500
Site improvements		3,290
Building and improvements		49,260
In-place leases		14,160
Above-market leases		2,260
Below-market leases		(4,420	)
Indebtedness		(13,935	)
Net assets acquired	$	80,115