Real Estate Investments (Tables)

3 Months Ended

Mar. 31, 2016

Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed

The following table summarizes the acquisition date preliminary fair values of the assets acquired and liabilities assumed during the three months ended March 31, 2016 (in thousands):




Land	$	63,739
Site improvements		3,828
Building and improvements		86,067
In-place leases		20,850
Above-market leases		1,980
Below-market leases		(5,964)
Net assets acquired	$	170,500

Summary of consolidated results of operations on a pro forma basis

The following table summarizes the consolidated results of operations of the Company on a pro forma basis, as if the retail portfolio acquisition had occurred on January 1, 2015 (in thousands):


	Three Months Ended
	March 31,
	2016		2015
	(Unaudited)
Rental revenues	$	23,814	$	22,805
Net income		575		2,091