Real Estate Investments (Tables)

6 Months Ended

Jun. 30, 2016

Real Estate [Abstract]

Summary of Estimated 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 six months ended June 30, 2016 (in thousands): 

	Portfolio			SouthgateSquare		Total
Land	$	66,260		8,890		$	75,150
Site improvements	3,870			2,140		6,010
Building and improvements	88,820			23,810		112,630
In-place leases	20,630			5,990		26,620
Above-market leases	1,960			100		2,060
Below-market leases	(11,040		)	(1,400	)	(12,440		)
Net assets acquired	$	170,500		39,530		$	210,030

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   June 30,				Six Months Ended   June 30,
	2016		2015		2016		2015
	(Unaudited)				(Unaudited)
Rental revenues	$	24,251	$	24,523	$	48,065	$	47,329
Net income	3,131		4,231		3,693		6,321