Real Estate Acquisitions

6 Months Ended

Jun. 30, 2018

Real Estate Investments, Net [Abstract]

Real Estate Acquisitions

6. REAL ESTATE ACQUISITIONS

During the six months ended June 30, 2018 and 2017, we acquired one and six grocery-anchored shopping centers, respectively. None of these acquisitions were considered business combinations, but rather were classified as asset acquisitions. As such, most acquisition-related costs were capitalized and are included in the total purchase prices shown below. Our real estate asset acquired during the six months ended June 30, 2018, was as follows (dollars in thousands):

Property Name	Location	Anchor Tenant	Acquisition Date	Purchase Price		Square Footage	Leased % of Rentable Square Feet at Acquisition
Arlington Station	Arlington, TX	Walmart	1/19/2018	$	18,483	113,742	92.4%

During the six months ended June 30, 2017, we acquired the following real estate assets (dollars in thousands):

Property Name	Location	Anchor Tenant	Acquisition Date	Purchase Price		Square Footage	Leased % of Rentable Square Feet at Acquisition
Herndon Station	Fresno, CA	Save Mart	2/10/2017	$	16,934	95,370	96.1%
Windmill Station	Clovis, CA	Save Mart(1)	2/10/2017	9,665		27,486	100.0%
Plaza 23 Station	Pompton Plains, NJ	Stop & Shop	2/27/2017	52,375		161,035	95.5%
Bells Fork Station	Greenville, NC	Harris Teeter	3/1/2017	9,609		71,666	91.7%
Evans Towne Centre	Evans, GA	Publix	5/9/2017	12,030		75,668	92.2%
Riverlakes Village	Bakersfield, CA	Vons	6/16/2017	24,337(2)		92,212	95.8%

⁽¹⁾  We do not own the portion of the shopping center that contains the grocery anchor.

⁽²⁾  The purchase price includes debt assumed as part of the acquisition.

The fair value at acquisition as well as weighted-average useful life for in-place, above-market, and below-market lease intangibles acquired during the six months ended June 30, 2018 and 2017, are as follows (dollars in thousands, weighted-average useful life in years):

	2018				2017
	Fair Value			Weighted-Average Useful Life	Fair Value			Weighted-Average Useful Life
Acquired in-place leases	$	1,751		8	$	12,212		10
Acquired above-market leases	275			9	1,415			8
Acquired below-market leases	(564		)	13	(3,556		)	17